The Investing for Beginners Podcast - Your Path to Financial Freedom

By Andrew Sather, Stephen Morris, and Evan RaidtBusiness Investing

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The Investing for Beginners Podcast - Your Path to Financial Freedom episodes

July 17, 2018 IFB65: Listener Q&A: Stop Loss, Fractional Shares & Tesla

Welcome to Investing for Beginners podcast this is episode 65. Tonight Andrew and I are going to answer some readers’ questions, we’ve gotten some fantastic questions over the last few weeks and Andrew and I wanted to take a few minutes to go ahead and answer those.
I’m going to go ahead and start off with the first one so bear with me reading this so I have.
Hi Andrew,
I stumbled across yours and Dave’s podcast of the search for the ultimate truth and knowledge of investing. I have dabbled in investing, more gambling with Forex and options with a couple of stocks not good ones just losers.
The thing I’m finding is there is so much info out there or leading you this way in that so the question I have for you is now that you’ve been investing for a while I’m probably still learning along the way if you had to start again or start your daughter if she was of age for investing of her own like fill town and his daughter where would you start and what steps would you suggest?
I understand the concepts of Valle investing I believe by a good company for less than what it’s worth for a margin of safety and look for good businesses that I can understand.
I’ve just finished listening to the value investor from Graham but the issue I seem to run into is it valuation of businesses or should I start looking somewhere else.
I know you’ve both put out good info for stocks but how do you go about finding those I forgot to say thank you for both of you from probably every new investor for trying to help people realize that there is a way to have money for retirement.
Tom
Well Tom you’re welcome this is why we do what we do we love helping people and that’s a lot of fun to talk about this and Andrew and I get to geek out on air.
Let’s see let me take some of these questions for you. so if I had to start we’ve talked a little bit about this but I’ll go back and talk a little bit about this again if I had to start again or start my daughter when she was of age oh I feel town on his daughter if you guys have not checked out that’s Invested fill town and his daughter Danielle talked a lot about investing Daniella is a newbie and fill town is a value investor and of the like that we talked about and it’s kind of a great interplay between he and his daughter is their he’s trying to teach her all about Wall Street and everything. so it’s kind of a it’s a cool podcast if you want to check it out.
If I wanted to start Sadie off with investing I would just basically sit her down and talk about buying companies and so many people look at investing as buying a stock as a piece of paper or a ticker symbol on their computer or their iPad or their phone. And I would talk more about what you’re actually buying you’re actually buying a piece of the business and go about talking about how the business makes money and teacher the ways of businessman.
Warren Buffett always says that he’s a great investor because he’s a great businessman he talks a lot about and kind of vice versa he’s a great businessman because his investor and they really go lockstep hand-in-hand with each other the more you learn about business and how they operate and how they make money you become much a better investor because as I’ve said before our we’re buying businesses.
I would start with that and learning more about how businesses make money and where their revenue comes from and just learning the ins and outs of the business. And I’m not necessarily talking about learning how to read a 10k that I think would be overwhelming and kind of boring and I think that would put people off.
But if you really started off with looking at things that you go and buy on a regular basis like Starbucks and have a conversation about how the store ...
48 min
July 16, 2018 IFB65:LIstener Q&A: Stop Loss, Fractional Shares & Tesla
Welcome to episode 65 of the Investing for Beginners podcast. In today's show, we answer listener's questions on a broad range of topics including stop losses, buying fractional shares, fractional dividends, and a discussion on investing in Tesla.

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52 min
July 06, 2018 IFB64: Personal Finance 105: Maximizing Passive Income

Welcome to Investing for Beginners podcast this is episode 64. Tonight we’re going to conclude our series on personal finance, this is episode 105 of our little series here. Andrew’s going to start us off we’re going to talk a little bit of passive income so Andrew go ahead and take it away.
Andrew: so I really wanted to talk about this because I feel like a discussion on personal finance isn’t complete especially in my own situation if we don’t talk about creating passive income.
By far creating a passive income stream has been the most if not influential is not the right word but it has had the greatest impact on my own trajectory my own path to financial freedom and that’s something that we definitely need to cover because I think it can be that way for a lot of people too if they’re willing to put in the work.
I understand like I have a very entrepreneurial mindset kind of like a workaholic type a type person so I understand that maybe this episode isn’t going to apply for everyone and that’s fine and if that’s the case for you and you want to just focus on the investing side and that’s 100% okay and we’ll get back to it like we normally do.
However we are talking about personal finance I am super passionate about creating passive income and when you’re doing investing, in general, you create a passive income that should be the goal with dividends and so obviously you need money to make money you can start small like we always talk about you grow that little income stream from dividends and your growth over time you reinvest it continues to get larger and larger and larger.
If you couldn’t add this element of passive income whether that’s picking up a side hustle, getting a second job where at whatever that entails that can also compound for you over the long term. Because now obviously you’re getting free money that you can invest for example if you have all your bills set up you have your budget set up like we talked about in the previous personal finance episode.
Then you could have a side hustle or a second job where all that money can go straight to your investments and it can really grow at a much-accelerated rate. And so the thing the things that I like about passive income and this is going to be something where I guess if you’re doing like a second job it doesn’t necessarily apply.
And I don’t want to speak to like every single type of passive income you could create because if that’s something you’re interested in I highly recommend Pat Flynn Smart Passive Income podcast. But I think there are some things I’ve seen success with that I believe both Dave and I can shed some light on today experiences is often the best teacher and I still believe like the way I found success is something that’s very early in the game so to say and there’s a lot of opportunity for people to kind of pick up that torch and continue with on.
And that might be kind of a stupid thing for me to say because I’m creating competitors as I say it but I’ve had like Porter Stanberry for example. He’s he has a podcast and I remember something he said that really stood out to me was the idea that the thing with investing I mean you can only create and I want to put words in his mouth.
But the way the way I kind of took out of it was you can only create so much from whatever capital you have so even if we were to say we’re the best investor in the world right let’s say you’re Warren Buffett and you’re able to compound it like an insane twenty-two percent a year or something like that.
If you’re broke is a joke and you’ve got five dollars to your name compounding of twenty-two percent a year isn’t going to make you a millionaire so I can make you a billionaire it won’...
31 min
July 06, 2018 IFB64:Personal Finance 105: Maximizing Passive Income
Welcome to episode 64 of the Investing for Beginners website. In today's show, we discuss how to find a side hustle and make it go. Being able to create a little side income can help you tremendously.

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34 min
June 26, 2018 IFB63: Personal Finance 104: Designing Your Investment Lifestyle

Welcome to investing for beginners podcast. this is episode 63 tonight we’re going to continue our discussion on personal finance, this is personal finance 104 and tonight we’re going to talk about designing your investment lifestyle.
We’re going to talk a little about picking an investment strategy and different areas of that and I know Andrew had some things you wanted to start off with so when I turn it over to him.
Andrew: yes so last week we talked about budgeting the next natural step is figuring out what to do once you have that extra money. so like they have mentioned you’re going to want to have to pick an investment strategy you want to look around and really try to understand you not just pick a strategy just off the onset just because it sounds good.
But try to understand what’s going to fit so that might that might entail looking at a couple different things before you really make a decision and I’ll kind of explain why.
But there’s a lot of different ways you can invest money we covered this in our back to the basics part 3 or we talked about stocks versus other investments we’ve talked in the past about how we’re both adamant value investors and why we kind of why we tilt that way and why we recommend that investors try to model portfolio a base approach trying to buy low trying to buy businesses that are trading at a discount to their intrinsic value.
I don’t have what episode that is off the top of my head but we did talk about what kind of options you have as versus any other sort of investment I also talked about like value machine versus growth investing versus whatever other kind of strategies are out there so those are two episodes to help a broader base and a broader sense of kind of what all your options are out there.
I wanted to start off though with a couple of things that maybe if I talked about it will help give like a mindset shift on why it is important to pick a strategy in this way and to kind of understand and conceptualize what I’m about to say.
Basically when you break down investing there’s two forms of it you have passive investing and active investing. So passive investing is the type of vesting that’s usually recommended by investment professionals if you go see a financial advisor they’ll usually recommend that as well and basically what that means is you’re just buying stocks and then not touching them that’s the best way to do passive strategy.
And it usually entails buying like an index fund and just passively holding it and not touching it so if a passive strategy fits your personality if it’s something you’re able to stick to then it can be a very great option for you.
The other side of that is active and what active means is you’re trying to pick stocks you might be selling in and out you might not be a buying hold forever and although at least personally I really try to talk about buying stocks and holding them as long as you can ideally forever. I also understand that stocks go bankrupt and so that’s why I always talk about the bankruptcy research the negative earnings discussions I went to sell.
But in general you want to try that hold your positions as long as possible so that’s what active is you’re buying individual stocks you’re making stock selections that way then you’re also making decisions on the opposite side of how long you’re staying in these stocks when you’re getting now how long when you’re getting down when you’re staying in and all those sorts of things. And I do believe like for the majority of investors that having a passive strategy is the best way to go.
However I see a huge problem and I’ve kind of talked about this before but a huge problem with the idea that you’re just going to tell people...
31 min
June 26, 2018 IFB63:Personal Finance 104: Designing Your Investment Lifestyle
Welcome to episode 63 of the Investing for Beginners podcast. In today's show, we continue our series on Personal Finance. This episode we will discuss how to develop your own investment lifestyle.

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34 min
June 19, 2018 IFB62: Personal Finance 103: Managing Personal Cash Flow

Welcome to Investing for Beginners podcast this is episode 62. Tonight Andrew and I are going to continue our series on personal finance. Tonight we’re going to talk about managing personal cash flow.
Andrew why don’t you go ahead and start us off and we’ll chat a little bit between each other.
Andrew: all right let me get some wild and crazy ideas out there cool. how am I put this nicely so there is a term in the fitness world that is called F around itis and it’s made popular by a guy who runs Lean Gains site his name’s Martin Berkman and basically the whole it’s like a great blog post went viral that all those sorts of things and basically his big thing with the reason why so many people aren’t finding progress in the gym is because they’re they have this condition called F around itis.
And it’s basically because when you’re going through the gym you’re trying to do everything you can but if you don’t sit down and write things down and track it and measure and see where your progress is going. Then you don’t actually make any progress and you end up just kind of spinning your wheels.
Another business management guy’s name is Peter Drucker he has a quote and he says if you can’t measure it you can’t improve it. And so I think when we talk about personal finances and you really try to get to the bottom of figuring out how to improve how your personal finances are working because it’s all like kind of a chaotic mess.
Everybody solutions going to be kind of different and that’s why you have the personal part in personal finance. However, there is that key point that you need to be tracking something and measuring something and so I think Dave and I can throw out some ideas of how we feel about measuring the way that your money is flowing through your life.
But if you really want to make progress and improve a just to be aware of how your money situations moving this time goes on and beat to hopefully see that progress and just by measuring it and tracking it has a bi-effect of making that situation better for yourself.
I definitely have what works for me when it comes to tracking my personal finances I’m sure Dave has the system and I’m sure you take 10 people off the street and whether they’re financially whether or not I’m sure everybody else has their own situation to their own system sorry.
It’s going to be different hopefully we can just throw out some ideas and if it’s something that speaks to you then you can make it stick. But the whole point of this episode I think is that when it comes to your money you don’t want to have a frown that’s you don’t want to be just enough flailing your hands blindly you want to have a plan and you want to have measurements and you want to be tracking your progress.
I know this is not some sort of straight linear path trust me it’s not like they say success is never a straight line there’s always bumps in the road and when you look at finances I think that applies 110%. I’ve definitely seen in my own life and I’m sure other people can speak to and relate to that as well.
Just when you think you have things sore that something major always pops up around the corner but there are ways that we can still take on those obstacles and those challenges and still make progress moving forward I think the most important part of that is like what Dave says is managing your cash flow and having in my mind it’s budgeting but I think having any sort of measurement system in place is really the first and probably the most important step.
Dave: I totally agree with what Andrew was saying I think if you can’t measure what you’re trying to improve on you’re never really going to prove upon something and I really like what his...
23 min
June 18, 2018 IFB62:Personal Finance 103: Managing Personal Cash Flow
Welcome to episode 62 of the Investing for Beginners podcast. In today's show, we discuss personal cash flow.

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27 min
June 12, 2018 IFB61: Personal Finance 102: Building Assets in the Adult World

Welcome to Investing for Beginners podcast this is episode 61. We’re going to go ahead and talk a little bit about personal finance today. Andrew has a disclaimer he wanted to discuss before we get started so Andrew why don’t you go ahead and chat a little bit.
Andrew: sure so real quick I know there’s like varying degrees of experience level with people who listen to us so I would say we’re going like super into the basics for the next couple of weeks. I would say if it’s stuff that’s going to kind of bore you or if it’s stuff that you already know I go through our archives and we get in swarmed the nitty-gritty in into the stocks and individual stocks and accounting and stuff like that in those.
But Dave and I had a lot of fun last week talking about some of the basics and personal finance and figured we’d turn it into a little bit of a series. So we’re going to do we’re going to call last week’s personal finance 101, and we’ll call this one 102 and make a couple of episodes that way.
There was a lot of fanfare when we did the back to the basics part 1 through 5 series, so this is going to be kind of similar but for personal finance and we’ll try to throw in some more advanced things, but I would say go through the archives. I know when I check out podcasts and some of the other ones there was a big one that I remember I listened through every single episode in the archive, and that helped me out, and I’ve done that for investing entrepreneurship and whenever there’s like a skill I wanted to learn.
I always thought the archives were like a valuable resource and we got stuff on their blogs and stuff like that too if you are dying for content. But for now that’s where we’re going to head and yeah let’s talk about last week we were talking about some things that we would do some things we would say there were five-year-olds and try to give them some concept of money and making money investing money all those sorts of things.
We talked about the importance of building the business building assets. But we didn’t say how to do that specifically, so I was going to say, Dave, what would you say is the first step if we do now want to take our discussion from last week and yep start building assets and how do we do that in the adult world.
Dave: Well I think the easiest thing is to start a savings account that’s probably rule number one is to start saving money. Learning how to save money, and we talked a little bit about that last week with what we’re going to do with our daughters, and I know that I’ve talked to my daughter Sadie about that numerous times and she’s starting to kind of take to it.
Last week when I gave her earnings she took two dollars of it and went ahead and set it aside and I’d even have to tell her that it was kind of cool. I think the first thing is setting up a savings account starting to save money and putting money aside whether you’re 14 years old or 24 years old I think that’s so critical to have extra money.
There was a tweet going around earlier this week where there was a study done that said I think it was seventy-five percent of Americans have less than four hundred dollars in a quote-unquote emergency fund. So if your car breaks tire blows out you have some medical emergency, you break a tooth or something like that that you that the average American doesn’t have any money saved.
And I can tell you from firsthand experience working in the banking world for those years that is right on the money there is lots and lots of people that have nothing they have no money saved that would have paycheck-to-paycheck.
Some of some of it’s their own doing they live above their means but some people they just aren’t earning enough money,
21 min
June 12, 2018 IFB61:Personal Finance 102: Building Assets in the Adult World
Welcome to episode 61 of the Investing for Beginners podcast. In today's show, we discuss how to start building assets and what those assets could consist of.

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25 min

About The Investing for Beginners Podcast - Your Path to Financial Freedom

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The Investing for Beginners Podcast teaches you how to buy your first stocks and build long-term wealth in the stock market— without the hype or confusing jargon.