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Chapter 1: Episode 8 (The Philosophy of Money: Investing Prudently)
This episode builds upon Episode 4 (The Philosophy of Money: Income) and Episode 6 (The Philosophy of Money: Saving Frequently). These episodes are to spark an internal dialogue within you to evaluate your current philosophy of money and how it's working out for you.
In this episode we go over:
- What is an investment?
- According to Benjamin Graham, "An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative."
- Parable of the talents.
- To those who are faithful with a few things; they will be put in charge of many things.
- Whoever has will be given more and they will have an abundance. Whoever does not have, even the little they have will be taken away and given to those with abundance.
- From the book "The Richest Man in Babylon" by George S. Clason.
- Make thy gold multiple; invest wisely/prudently.
- Guard thy treasures from loss; avoid investments that sound too good to be true.
- Stock market.
- Dividends- profits/earning distributed by companies to shareholders.
- Capital gains- appreciation in value of investments.
- Re-investing profits.
- Compound interest- earn interest/value for both the capital and subsequent interest earned. “Compound interest is the 8th wonder of the world. He who understands it, earns it; he who doesn’t, pays it.” Albert Einstein.
- Real estate.
- Once you own real estate you let other people go to work for you as rent and mortgages are the highest bills for most people.
- REITs. Real Estate Investment Trusts. They are real estate products listed in the stock market in which for most cases are required to pay at least 80% of their profits out to investors.
- Invest in yourself and start now.
- The best investment you can ever make is in yourself. Do what you love, do it for free if you have to. Eventually you will find a way to get paid for it.
- Start today with what you have and learn as you go.
- Find a mentor.
- Tap into the knowledge of someone who's already accomplished what you want.
- Almost every successful person has a mentor. Success leaves clues so never shy away from asking for direction.
View all episodes
By Michael K.This episode builds upon Episode 4 (The Philosophy of Money: Income) and Episode 6 (The Philosophy of Money: Saving Frequently). These episodes are to spark an internal dialogue within you to evaluate your current philosophy of money and how it's working out for you.
In this episode we go over:
- What is an investment?
- According to Benjamin Graham, "An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative."
- Parable of the talents.
- To those who are faithful with a few things; they will be put in charge of many things.
- Whoever has will be given more and they will have an abundance. Whoever does not have, even the little they have will be taken away and given to those with abundance.
- From the book "The Richest Man in Babylon" by George S. Clason.
- Make thy gold multiple; invest wisely/prudently.
- Guard thy treasures from loss; avoid investments that sound too good to be true.
- Stock market.
- Dividends- profits/earning distributed by companies to shareholders.
- Capital gains- appreciation in value of investments.
- Re-investing profits.
- Compound interest- earn interest/value for both the capital and subsequent interest earned. “Compound interest is the 8th wonder of the world. He who understands it, earns it; he who doesn’t, pays it.” Albert Einstein.
- Real estate.
- Once you own real estate you let other people go to work for you as rent and mortgages are the highest bills for most people.
- REITs. Real Estate Investment Trusts. They are real estate products listed in the stock market in which for most cases are required to pay at least 80% of their profits out to investors.
- Invest in yourself and start now.
- The best investment you can ever make is in yourself. Do what you love, do it for free if you have to. Eventually you will find a way to get paid for it.
- Start today with what you have and learn as you go.
- Find a mentor.
- Tap into the knowledge of someone who's already accomplished what you want.
- Almost every successful person has a mentor. Success leaves clues so never shy away from asking for direction.