Discussing "How to get rich" by Felix Dennis.

In this episode we cover:

- A short status update about my moves related to Coronavirus

- The books corny title

- Dennis' poetry

- Drive and focus

- Money is the most competitive game in the world

- Sacrifices

- Ownership is everything

- Luck and preparation

- Why you don't need to be great to become super wealthy

- Talented risk-adverse people

- Leverage through people

- Keeping the eyes on the ball

- "Memento Mori" as a freeing maxim  

- Boldness

- Cutting negative people

- Cutting distractions, making sacrifices

- Chasing money as a foolish pursuit (and doing it anyways)

- People need a purpose to be happy

Outside of the importance of smart decisions during recessions, I've noticed a recent change in people's views and attitudes. 

In the recent past, most people have been admiring one specific mindset, the YOLO I-am-broke-and-unskilled-but-let's-spend-my-last-bucks-on-a-trip-to-Bali people, that exist in good economies. Right now, smart decisions may be taking back the limelight.

In this episode, we cover:

- Covid-19 ending the longest bull market and thriving economy

- Making millions out of fairy dust 

- Instagramer models, TikTok

- Supreme extinguishers and limited sneakers

- Making use of the environment of the time, take the money

- Dream jobs and entitlement

- Scarce job options nowadays

- My own entitlement

- People's idols, influencers

- Purposeless people living in the moment

- Respecting "boring" disciplined people

- Giving me sh*t for for driving a cheap car

- Fake security in job experience  

- Is this a long-term shift or will it last only as long as the Coronavirus crisis?

- Remembering at least one worldwide crisis in your lifetime

Despite motivational speeches and advice everywhere encouraging people to take risks, could some caution be warranted in a Covid-19 recession?

In this episode, we cover:

- Taking risks

- Seeking difficult situations intentionally, for growth

- Starting a business and having a purpose

- Leaving your job during a recession or economic downturn

- Business failure

- Ease of getting a new job, layoffs, etc.

- Economic environment and consumption

- Starting a business while keeping (and solidifying your job)

- Being a valuable yes-man during recessions

- Cheap assets, and keeping cash-flow to purchase it

- Stocks

- commercial real estate

- Possibly low-interest rates AND low prices at the same time?

- Why personally, I'm still not buying real estate at the moment

- Keeping liquid reserves

- High-margin, low-expense businesses

- Side-jobs, gig economy

- Importance of having income when assets are cheap

- Keeping a layer of safety during recessions 

It may be the first time in recent history that "stars align" in this way. As a result of Coronavirus and central banks reactions, timing could become perfect between stocks, real estate and interest rates, let me explain.

The most common financial advice you would receive is "own your home", as most consider renting to be flushing money down the toilet. But is that so, is owning really more profitable? For very ambitious people I don't think so, here's why.

- Why you can't compare mortgage and rent amount

- Hidden costs of homeownership

- Opportunity cost

- Sunk costs (fees, transfer taxes, etc.)

- Why "apples to apples" makes no sense, you don't buy the same as you'd rent

- Pride of ownership and utilitarian renting

- Upgrades and remodelling 

- Why home improvement doesn't necessarily add value to the home

- Easier to be furgal or minimalist when renting

- Flexibility when your are relatively young

- If you have to move it, can you sell it or rent it our profitably?

- Why a home you chose for yourself is not typically a good investment

- Renting makes it easier to move in together, picking a place, etc.

- Easing of moving out for bad neighbors, new job, etc.

- Not remodeling, or buying fancy furniture

- Renting to reduce your employer's leverage on you and work-related  stress 

- Renting to keep your options open

- Renting for free time and peace of mind 

- Renting to focus on and invest in your business

- Differentiating between buying a home and doing real estate as a business

- Why profitable real estate is generally not attractive

- What about quality of life?

- Making a genuine comparison for yourself

In this episode, we cover:

- Useless people afraid of being cut

- Large corporations' inefficient hierarchies

- Negative attrition: skilled people leaving, bad ones staying

- Working from home highlights each person's output

- People are more productive when working from home?

- The true cost of unproductive team meetings

- Higher ranks are older and can't use technology

- Make-believe positions

- Story time: Human resources wasting 300k€ in just two meetings

- Usuless coordinaton jobs

- Working from home was possibile all along, the infrastructure was there !

- High ranks not trusting people working from home

- Office costs for the company

- Employees can't afford to live near work

- Commute time !

- Will coronavirus and working from home make downtown apartment prices crash?

- Quality of life of people able to work remotely from cheaper areas

- Will we forget about these realizations as soon as Covid-19 is behind us?

Times changed and one can live a very comfortable life on a minimum wage salary. 

In particular, we explore:

- How cheap comfortable modern housing can be

- How one can drive a reliable car for very little money

- Unlimited entertainment and knowledge

- Low startup costs for small businesses

- Cheap and quality healthcare

- People complaining about how life is so difficult these days

- How it allows you to live cheaply and comfortably to achieve your goals

- And more

In this podcast, I was pissed at my firm scamming me out of my vacation. And at the time of the recording, I lost one week vacation, a few days afterward I was actually informed it would be 5 weeks instead. In hindsight though, given how many people lost their jobs, I should be happy losing only vacation.

In this episode, we cover:

- My firm trying not to send us home, and finally caving in

- How I was forced to take my holidays during lockdown

- Employers mistrusting work from home

- Bringing back my weights to lift at home during lockdown

- Improvising a home lifting routine that hits every muscle group

- Covid-19 buying opportunity?

- My risk-adverse friends who's invested 80% in cash

- Don't trust your company

- The head sticking out gets chopped

- My friend's motto : exploit your employer as they will exploit you

- Work for yourself, only way to get meritocracy

- Felix Dennis on ownership

- Why wou cannot get really rich just with stocks or real estate

- Discussing with people in the grind, not only people who already made it

Going back to work as my office tried not to close its building during Coronavirus chaos.

- Team rotation quarantine

- Belgians workarounds to go clubbing during Covid-19

- People getting their news through facebook instead of reliable sources

- Gym rats not going to the gym under Covid-19

- Belgian worry-free attitude

- When I plan to buy more stocks

- How the US could impact the markets the most

- Timeline for a vaccine

- Buying when blood is in the street

- How working from home finally allows you to learn anything

- Why inovation is not rewarded in large companies

- How large companies incentivize selfishness

- How humans are made to go towards a goal

- Why it feels better to be self-employed

- Using the lockdown to read great non-fiction books

- The invisible effect of great books on your life

- Some of my book recommandations

- How building good habits is actually much easier than people think

- Intentionally putting yourself in difficult situations for growth

- How my health is super optimized without much effort

- Yoga for the stretches, not the philosophy

- Batch cooking

- Push-back from people when you make good decisions

- Why it makes no sense to make your good decisions visible

- How your brain works entirely on dopamine

- How dopamine kills drug addicts

- Restricting dopamine as a competitive advantage

Episode in the car on the way home, Covid-19 is starting to spread and it's affecting my office and finances.

In this episode we cover:

- Chaos in Luxembourg with the early spread of Coronavirus

- Office buildings closing

- Losses on my portfolio

- Effect of a dip depending on age 

- My trusty old car

- Why older cars are not ideal for podcasting

- How people in Luxembourg spend so much in their cars and clothes

- Empty supermarkets in Europe

- Social distance in Luxembourg public transports and shops

- Working from home in tiny apartments 

- Family baffled by my working conditions

- Managing people early in your career

- Careers allowing you to grow fast

- Selling your soul to grow fast

- Stupid people with office politics skills

- How long to stay in a career path

- Learning transferable skills at your corporate job

- Backstabbing culture and heavy turnover

- People discussing other job offers in the open space

- Admitting to love all the drama

- Is it worth it to make Partner?

- Real estate at the moment

- My strategy right now