On the long road to wealth creation, we can lose focus if it is a hassle to manage our different accounts and other aspects of our finances. So this week, I’m going to give you some practical wealth building tips to make your life easy.
The problem with building wealth is that it takes a while; 20,30,40 years or more sometimes. And because it can be a slow process, it can be tough to stay focused, particularly when things are difficult. In this session I’m going to help you visualise your dream so that it inspires you enough to stick to those long term goals.
It’s a new season here on MeaningfulMoney and we’re going to be building on the previous two seasons and talk about how to build wealth the right way, that is for the long term. I work with clients every day who have been carefully building wealth over many years, and have done so without living like monks along the way. I am seeking to emulate those people and in this season, I want to try to impart what I am continuing to learn and apply.
Today, I’m chatting to Buck Joffrey MD, an investor from the US, and creator of the Wealth Formula Podcast. Buck’s bio says that he believes traditional investing in stocks and shares for capital growth is no longer relevant and that cash flow is everything. That piqued my interest, and so that’s the topic of conversation – cash flow or capital gains?
Over the past six weeks, we’ve taken a look at what Behavioural Finance is, and spoken to some experts and practitioners for their thoughts on the subject. Today I want to look at applying behavioural finance in real-world situations, so that we all can stand the best chance of making optimum decisions.
It’s not often this happens, but there will be no podcast this week. I hardly ever get a cold, so I’m a bit annoyed! But I’m in no shape to talk for 30 minutes into a microphone, so if you don’t mind I’m going to take a week off, and return next week to close out the season on Behavioural Finance.
BUT! There are a couple of things worthy of a mention.
Firstly, the podcast averaged over 1,000 downloads per day in October, which is a big step-up. Here’s the proof:
That’s ever so cool. Thanks to all of you for sharing, leaving iTunes reviews and helping me spread the word. Apart from this week, the show goes from strength to strength!
Secondly, I may have mentioned that I’m getting my legs waxed to raise money for StageStruck, a youth theatre in Penzance that my girls have been a part of for many years. We’re putting on a new production of St Trinians in a couple of weeks, and I’ll be playing Headmistress Millicent Fritton. The leg-waxing was the director’s idea, and I foolishly agreed.
If you have ever had any value from this show, please consider sending a fiver or whatever to StageStruck via the GoFundMe page here. I’ll attempt to live stream the leg-waxing to Facebook, so you can share my pain, if you like that sort of thing!
Thanks very much – normal service will resume next week!