What Financial Experts Won't Tell You About Money

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Published 2023-04-07
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Ep 1 - 25 of the Erika Taught Me podcast are here: youtube.com/user/erikataughtme

Ep 4 - Author of the New York Times bestseller “The Psychology of Money” Morgan Housel shares today with us his realistic tips and strategies for saving, investing, and achieving financial freedom. Learn how to have a better relationship with your money without compromising happiness along the way.

New to the Erika Taught Me podcast? Start here:
Barbara Corcoran (Shark Tank) on success:    • How Barbara Corcoran turned $1,000 in...  
What Financial Experts Won't Tell You About Money -    • What Financial Experts Won't Tell You... …
Negotiating Lessons with Former FBI Hostage Negotiator Chris Voss -    • How To Never Lose A Negotiation With ...  
Top Airline Travel Hacks with Sec. Pete Buttigieg -    • Sec. Pete Buttigieg: Know the “Fine P...  
Fly For Free with The Points Guy -    • Fly First Class For Free with These T...  

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Timestamps:
00:00 - Intro
01:50 - Is there a “right answer” in finance?
04:33 - The closest thing to a formula for better finance
09:15 - Biggest mistakes to avoid when investing
12:36 - Red flags to look out for in the finance industry
30:45 - Morgan’s approach to investing today
39:18 - The secret to Warren Buffett’s investing success
53:20 - Advice to achieve financial independence
1:06:36 - What happened to Warren Buffett’s partner Charlie Munger?
01:23:18 - The Psychology of Money Book
1:31:00 - Morgan Taught Me

All Comments (21)
  • @Bernando441
    It's quite shocking how few people know about the forbidden book: Making money your reality
  • @user-tu1qe4ov7g
    What side are you on as Blcktken300 divides the wealthy from the poor?
  • @fredm1
    I was an investment advisor. The advice in the video is excellent and true for the typical American. But for people who have a good portfolio of about $5m, if you look around, most people are still active at 70 (I live in LA) but by 80, not so much, so enjoy yourself at some point before it’s too late. That nice vacation will pay for your last week in the nursing home. There is a difference between wasting money and spending it. Be value-conscious.
  • @Richardcarlett
    I'm a single, 45 -year-old father who resides in Hamburg. If everything continues to go well for me, I intend to retire at age 50. I couldn't be happier right now than I am that I just bought my first house last month. I'm so happy that I made wise choices that altered my life forever.
  • My Blcktken300 shorts are doing pretty well and I plan to hold much longer.
  • @KarlGrabe955
    Making money is not the same as keeping it there is a reason why investments aren't well taught in schools, the examples you gave are well stationed, the market crisis gave me my first millions, people shy away from hard times, I embrace them., well at least my advisor does lol
  • @dylanzapien166
    Do it. Blcktken300 already in my bags. I had a Blcktken300 after ( your should I buy ) and I agreed and bought. I'm looking to stack more, too.
  • @SarahTaylor_
    I feel investors should focus on under-the-radar stocks, especially given the present rollercoaster nature of the stock market, because 35% of my $270k portfolio consists of plunging stocks that were once respected, and I'm at a loss for what to do now.
  • I'm DCAing in Blcktken300 as well. ETH heavier DCA and ALGO. I'm taking your advice and starting Google tomorrow with a 50 dollar purchase and continuing Microsoft and Apple. VTI and VOO on another app and longterm portfolio. Here we go family!
  • @johnben9
    The idea of investing a significant sum of money may be both thrilling and intimidating. There seems to be potential for considerable wealth increase with the correct strategy. How can one take advantage of the present market to grow one's retirement savings over time?
  • Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
  • @mayradiaz7157
    Blcktken300 anticipation is building to a fever pitch! 😥
  • @poncho87ro
    "Wealth is not to gain nicer stuff, it is to gain total independence and autonomy in my life." ..... SOOOOOOOO POWERFUL AND TRUE FOR ME!!!
  • @Elrenyer58
    Love the Blcktken300 content. I think this project is just as essential as HBAR and they both will be great movers
  • @vanessacha4429
    Blcktken300 gang in the house! Thanks for the analysis!
  • @Riggsnic_co
    These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.
  • @blissds-gi3mb
    With all of the current events, what is the best approach to profit from the market come 2024? I'm still debating diversifying my $700k stock portfolio to obtain some profits while minimizing risk.
  • @Mr-sweeny
    To enhance our long-term investment mix, my partner and I are introducing a range of stocks and ETFs. We've committed $220k initially, with a particular emphasis on inflation-protected bonds and businesses demonstrating robust cash flows. I see potential for enduring growth in the current market, yet I'm also keen to explore strategies for generating short-term gains.