Podcast Episode 48: Where Can Your Human Capital Make You Money

EPISODE SUMMARY

In today’s discussion, Paul focuses on why we need to spend like the rich, not save like them. The rich spend their money on acquiring more assets, and by investing in our own education, we will be well-equipped for the financial decisions necessary to help keep our assets intact and growing. You have to understand your own portfolio! Do not toss it blindly into someone else’s hands.

WHAT WAS COVERED

  • 01:35 – So, how do people really create significant wealth for themselves?
  • 05:15 – We need to control our spending.
  • 05:35 – The first thing the wealthy spend their money on is more acquiring assets.
  • 09:10 – We have to invest in our own education.
  • 09:55 – Figure out how to manage your cashflow where you’re saving 20%.
  • 10:45 – Listen carefully to what Paul has to say here. This is the biggest step that people trip up on.
  • 14:45 – Stock picking, does it work? No!
  • 15:35 – Statistics show that asset managers are unlikely to outperform the market.
  • 16:45 – Your portfolio isn’t going to help you buy that 50ft yacht.
  • 17:10 – Our portfolio is going to grow wealth for us, but over time.
  • 19:05 – There are places where we can invest our human capital, our knowledge, to produce wonderful returns.

TWEETABLES

“It’s not a matter of ‘saving’ like the wealthy do. It’s more important to spend like the wealthy spend.”

“If we invest in our knowledge, we produce better returns. That’s true.”

“Our portfolio should grow wealth for us. We want it to grow wealth and outpace inflation, over time.”

SHARE THE SHOW

Did you enjoy the show? We would love it if you subscribed today and left us a 5-star review!

  1. Click this link – Sound Financial Bites
  2. Click on the ‘Subscribe’ button below the artwork
  3. Go to the ‘Ratings and Reviews’ section
  4. Click on ‘Write a Review’

RELATED LINKS

MUSIC CREDITS

“Legends Are Made” Copyright 2017. Music, arrangement and lyrics by Sam Tinnesz, Savage Youth Music Publishing SESAC and Matt Bronleewe, UNSECRET Songs SESAC

EPISODE TRANSCRIPT – FORMATTED PDF

EPISODE TRANSCRIPT – ORIGINAL TEXT

Full Episode Transcription

PRODUCTION CREDITS

Podcast production and marketing by FullCast

Recorded using Switcher Studio: sales@switcherstudio.com