EP 29: Dave Mason - Before You Skip Financial Education, Listen To This!

Resources:

The Cash Machine https://buildmycashmachine.com/ The Cash Machine Book https://www.amazon.com/Cash-Machine-Persistence-Financial-Independence/dp/1623930197/ Knobs.co https://www.knobs.co/ Kiyosaki https://www.instagram.com/therealkiyosaki/ Rich Dad Poor Dad https://richdadeducation.com/Country/ Yonah Weiss https://www.linkedin.com/in/cost-segregation-yonah-weiss

Outline of the Episode:

·      [03:08] Introduction: working as a personal assistant to the Interpol Secretary-General ·      [05:47] Finding time to do fascinating things after being a litigator. He traveled over 20 countries! ·      [07:45] Selling cabinet hardware online, earning as much money as needed, then earning way more than needed. ·      [10:45] The difference between conscious and subconscious thinking. Justifying things consciously but still making dumb decisions. ·      [12:50] An epiphany about financial difficulty, understanding stuff on his own, and researching everything from credit cards to real estate. ·      [19:59] His mistake of sinking a ton of cash into renovating his house and ended up losing it just to pay back his debt to his parents. ·      [21:05] The main characters in his book The Money Machine, the college drop-out, the one who looked for a well-paying career, and the woman who dated the former but acts like the latter! ·      [27:17] The inspiration behind his book. A discussion on assets and liabilities. ·      [29:00] Yona Weiss and how Dave learned depreciation from him. ·      [32:30] The other character in the story who had an agenda against the IRS! ·      [36:29] How to use the tax code to your benefit and differences between index funds and mutual funds. ·      [42:52] Is there a way to avoid taxes in the United States? ·      [43:54] His goals for the book. Getting others financially literate, asking the right questions, and being exposed to financial matters. ·      [47:23] Doing better financially, but not spending more money. ·      [50:15] Be a tail to lions rather than a head to foxes.

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