295- Luck vs. Skill in Investing with Jake Taylor
12.15.2020 - By InvestED: The Rule #1 Investing Podcast
Investing in the stock market does not involve luck or gambling. It requires a strategy and a solid foundation of knowledge.
Investing in anything, especially the stock market, when you don’t have a concrete strategy can be scary. It’s a serious journey that shapes your life and can determine whether or not you live a life free from financial burden.
For example, if you don’t have a solid amount of money to retire on in 20 or 30 years from now, the government may not have the funds available to support your lifestyle, which is scary.
That is why it is becoming increasingly important to learn how to invest for yourself. In reality, the only fear of investing you should have is the fear of what you will miss out on if you don’t invest.
You wouldn’t jump in the ring without knowing the basics of boxing, so you shouldn’t jump into the stock market without knowing the basics of investing.
Before you begin building wealth, it’s important to understand your long-term goals of investing as well as the basic process that you will use to reach those goals. But once you learn the basics, you must constantly stay up-to-date with trends and market updates. The most successful investors in the world are reading and educating themselves on a daily basis.
In today’s podcast, Jake Taylor—Chief Executive Officer of Farnam Street Investments—sits down with Danielle to discuss luck vs. skill in investing, and why it’s important to stay in a growth mindset.
Learn how to invest and make decisions with confidence with the Rule #1 Cheat Sheet for Smarter Investing. Click here to download: https://bit.ly/3gNe0ub
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