The Investing “Rules” I Refuse to Follow (And How it Pays Off)
Feb 21, 2025
Dive into unconventional investing strategies that challenge traditional financial norms. Discover why individual stock purchases can be beneficial and how angel investing might not be the best route for everyone. Learn the significance of understanding financial numbers and creating a personal balance sheet. The host critiques the conservative 4% retirement rule while questioning the supposed goldmine status of real estate. Tune in for personal anecdotes and insight into the potential of collaborative entrepreneurial networks.
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volunteer_activism ADVICE
Money as Freedom
View money as freedom, enabling you to pursue your passions.
This mindset shift prioritizes flexibility and meaningful work over material possessions.
volunteer_activism ADVICE
Know Your Numbers
Know your personal burn rate, including income and expenses.
Track spending to understand your financial standing and plan effectively.
volunteer_activism ADVICE
Personal Balance Sheet
Build a personal balance sheet alongside your business.
Diversifying investments mitigates risk and improves financial skills.
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Die with Zero presents a provocative philosophy and practical guide on how to get the most out of your money and your life. Bill Perkins argues against over-saving and under-living, advocating for investing in experiences early and maximizing positive life experiences. The book introduces concepts like 'time-bucketing,' 'net worth curve,' and 'fulfillment curve' to help readers optimize their life stages and make the most of their resources. Drawing from his own life experiences and insights from psychological science and behavioral finance, Perkins makes a compelling case for living large and accumulating memorable experiences rather than wealth.
The Psychology of Money
Timeless Lessons on Wealth, Greed, and Happiness
Morgan Housel
In 'The Psychology of Money,' Morgan Housel delves into the psychological and emotional aspects of financial decisions. The book consists of 19 short stories that illustrate how personal history, worldview, emotions, and biases influence financial outcomes. Housel emphasizes the importance of behavior over knowledge in managing money, highlighting the power of compounding, the dangers of greed, and the pursuit of happiness beyond mere wealth accumulation. He advocates for a frugal lifestyle, long-term perspective, and a balanced approach to investing, stressing that financial success is more about mindset and discipline than about technical financial knowledge[2][3][4].
Should you be buying bonds or real estate? And what’s the real path to financial freedom? In this episode, I'm breaking down the investment strategies that have worked for me over the last five years, from stock selection to wealth-building habits. I’ll share why buying individual stocks can be a great move—if done correctly—and why I believe angel investing and bonds aren’t the best options for most people.
Listen in as I dive into the importance of knowing your financial numbers, how to build a personal balance sheet alongside your business, and why the traditional 4% retirement rule may be too conservative. Plus, I explain whether real estate is really the goldmine people think it is and what to consider doing instead.
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