In episode #570, Eric and Neil discuss how the rich get richer. Tune in to hear in which businesses you should be investing in.
TIME-STAMPED SHOW NOTES:
- [00:27] Today’s Topic: How the Rich Get Richer
- [00:37] The way Neil makes more money is that he “invests in what he knows”.
- [00:53] He invests in his business and its marketing.
- [01:08] If you invest in yourself, you’ll get the highest ROI.
- [01:15] Neil has lost the most money investing in things he didn’t really understand.
- [01:48] Warren Buffett says the best investment you can make is in yourself.
- [01:55] There are two ways to invest in yourself: knowledge and your business.
- [02:15] When you invest in yourself, no one can take that away from you.
- [02:59] Once you build a business, you’re able to see your goals more clearly and see that you should invest in yourself.
- [03:50] Neil was doing a wire transfer the other day and the banker tried to pitch him on investments.
- [04:20] The perfect response to this kind of pitch is to tell them you don’t believe in investing.
- [05:08] Eric and Neil regret investing in long-shot, but great-sounding opportunities.
- [06:04] That’s all for today!
- [06:07] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!
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