Simple Success Podcast - Unleash Your Inner Buffett: Turning Investing Into Fun!
This is financial life coaching from a happiness perspective, you are awakening. And I'm working on balancing successful investing with overcoming fear and other psychological hurdles. Hello, everyone. This is john with the simple success podcast, financial life coaching from happiness perspective, because we know you want to show us some serious love in return for the tremendous benefits you get from us, please head over to https://anchor.fm/simplesuccess. That's one word simple success wack support there, you can choose from a $9 and 99 cent per month investor level of support a $4 99% level or a basic intro level of just 99 cents per month. That's not much when you compare it to a stock broker, right? And this is so much more sensible to leave us a voice message which just might see the light of day in a future podcast go to https://anchor.fm/simplesuccess.
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In that spirit, today's episode is unleash your inner buffet, turning investing into Fun, Fun plays an important role in good overall health. But having fun while you make money is even better. If you're having a tough time getting comfortable with the idea of investing. Consider this. Why not just consider it as a game. Here's how change your thinking act like it's true and it will become true.
Remember the quote, as a man thinketh money is actually easy and a good way to have fun. Get over the losing part.
Avoid FOMO Give yourself a break and know you're investing in yourself. What do I mean by that? Well, saving is investing in yourself. It's investing into your future and giving you choices later, which is cool. focus on the positive side, stick with your game plan. Keep things simple and get started. Above all get started. You are ready to play, take one step at a time and have fun. There are a bunch of different apps you could use to get to this, and I'm not affiliated with any one of them.
But here's a couple examples. acorns, it's a great way to get started investing with little money stash. It's a free app that allows you to invest in a wide variety of funds. And Robin Hood been in the news a lot lately. It's a stock trading app that allows you to buy and sell stocks for free. Well, at least that's the pitch. And we'll get into those details later. Remember, I not only invest myself, but I have years of experience in the brokerage business. The lessons inside this stuff are written by me a financial professional. Sure, I get that talking about money is typically a no no in group conversations. But you can talk about it with your friends. And this community is your friends. And speaking of your friends, especially the ones with questions, here are some of the questions that come with our topic. How can I make investing fun? Of course, I've hit on that above. And that is the underlying point of this podcast, or rather, of everything we do. And that is to change your thinking. That's not necessarily easy. But sometimes you don't want easy, at least not easy results. Actually, what you want is very specific to you and your situation. Which leads us to a related question, what makes a good stock to buy? Should I buy now or wait? Well, that's also very specific to you and your situation.
Giving generic advice about specifics is not only a bad idea, it's against the law is saving better than investing our savings accounts worth it. Well that I can enter, just know that it's my opinion. And I hope you'll consider that my opinion on that is saving is better. And that dovetails with the idea of changing how we look at things. For example, if instead we say the word savings, we say lending banks lend money all the time, they lend it currently at four or five 6% interest, if you're talking about a mortgage, they're paying you a half percent on your savings account. Don't complain about that. Just fix it. I can show you how to lend it four or five or 6%. I've been doing it for almost 10 years. And in that 10 years, I've heard a couple of other different questions like for example, is it worth buying 10 shares of a stock? Well, back in the day when I had a brokerage office, we charged commissions, like a lot of other brokerage firms. And then that was a pretty good question to which the answer was usually no. That's because the commission added to the purchase price made the purchase price, not a good deal.
Now that so many firms have very low or even no commissions, the game has changed and in a good way, which leads to the question, why do you personally invest in stocks? Is it purely a way for saving for the future? Or retirement? Or is it also for fun or a challenge or to learn about business? I do it as a great alternative to answering questions like when can I retire? Like we're going to address next week? And here's a little bit of an oddball question until you used to the idea of thinking about things differently. And here I am passionate about the Dutch language, because it's fun, and also about stock investing. Is it a good idea to watch YouTube videos in Dutch about investing? Oh, the idea that we combine two things that are hard into one thing and make it easy is awesome. I'm all for this idea, especially if you're a patient. Why? Well, both these are good things. If you're not a native Dutch speaker, which you probably aren't, then you have to own up to the fact that being a novice in anything has some risks. You know, by now that I'm far from being afraid to take risks, I just think we should all know what they are and not whine about them. So yes, do it. Just be slow, careful, and patient.
Here's a great personal example. I have this passion for language, not just Dutch languages in that question, but also Spanish, French, Russian, and Hindi, and Evo rabbit hole. This is the part of the podcast are unwilling to quit those tangents I often go on, I had to create this segment to have a place to put those tangents with the idea of tying them into the topic of the episode. Thanks to my rabbit hole advisor, I'm undertaking an effort to stay on topic and not fall down those rabbit holes, like I know I do sometimes. I've also learned from her that well, at least in Australia, one can avoid falling down rabbit holes by talking to the rabbit. In other words, I think experts go on those tangents.
I'm going to keep that in mind when I'm looking for guests for future episodes of this podcast. So everyone is forewarned, in a humorous way, of course, detail, I am in the process of learning how to turn things around being hard to being easy, in a mindset, not in the underlying reality of the difficulty of the task, simply in how I think about it. Remember, as a man thinketh, I could think down two different paths, like thinking that podcasts like this one are hard, and that learning Spanish is hard, or Dutch, or I can combine the two, which is exactly what I do. And you should do it too. So here's how I say that making a podcast is easy. In Spanish that is, I see a podcast as fast. It's flipping the script, which we talked about a lot. haven't done that everywhere yet. Don't feel bad. We all need to do this every day. Remember, this is financial life coaching. From a happiness perspective. We've got a few pieces coming up here to both reinforce and enhance these ideas. In the past, I've always just written off my tendency to fall into those holes as being just something I do. That's a form of letting go. But as you'll see, it's a lot better to bring on experts to do the enhancing part, followed by questions from all of you. In this simple success podcast, as well as in our webinars in the master classes, we are very, very much going to want to hear your story well to be real. I mean, in future episodes of the podcasts, webinars and master classes. This means you your participation is critical to our mutual simple success.
It's important to know how you think what you thought, what you've tried, and what you've been unsure of trying, as we told you at the beginning. And as you also find in the shownotes we have ways you can contact us. It involves a special link where you can leave us a voice message which just might see the light of day in a future podcast. We may have an email address for you as well in the future. And we'll let you know when that happens. together. We're going to make it great. We're going to do what even we didn't think possible. We know a lot about you already. Because we know ourselves. For example, we know that you know how to listen to our podcast. We also know that you probably know how to subscribe. The reason every podcast asked you this is because when you subscribe, you automatically download all future episodes of that podcast. This means better rankings more attention from advertisers more money and that means more and better stuff for you.
So your motivation is simple and easy. Subscribe to Apple podcasts stitcher overcast or wherever you get your favorite podcasts. There is no try, there's only do remember, this is financial life coaching from a happiness perspective. Right after this, we'll explore some more important details you should know. But for now, use your imagination to help create your story. And to remind you everyone listening can head to that voice message link in the show notes to record a voice message for a future podcast. Anyway to wrap up the story, unleash your inner buffet turning investing into fun? Yes, you will. That's part of changing your thinking which we'll get into later. sooner if you want me to notice I didn't say anything about legendary investor Warren Buffett. But I did get you to listen by using part of his name in the podcast title. The Psychology concept behind that is the familiarity principle, also known as the mere exposure effect. And of course, I've linked to that in the show notes.
Now, since you want more of this, you start by subscribing and I told you why all podcasts want you to subscribe. Then you pick your goal, then you start doing it. We know you need help. We have one on one coaching for you. Okay, there are a few more steps and we'll go more deeply into them in future episodes, but boiled down, it can be that easy. Next week, we're going to look at another question that many people have been asking me and that is, when can I retire? In my time as a licensed financial advisor? I was asked this probably more often than any other question. And you won't be surprised to find that there is no shortage of answers. The key thing to understand is that there is a shortage of answers that you and I and other people, real people can possibly understand. It becomes critically important to simplify this process, simplify, simplify, simplify, just like practice, simplify. As a financial adviser, I could have given you a 100 page report detailing all sorts of important financial considerations, your eyes would immediately water over calculate, when you signed that Terms of Service Agreement that you didn't actually read. You said you agreed so that you could download the software or whatever the deal was, we all do that. But when those 100 page reports come out, instead of answering the question, when can I retire? They tend to take us down rabbit holes. And our brains don't want to go down those so they don't, then we feel dumb, because we don't know as much as we think somebody else does, which is back to the fixed mindset, which we'll see underpins a lot of things. Right now, keep in mind, when can I retire is very simple.
I've boiled it down to your age, the income you need and how long you're going to live. Because it really just boils down to that. every subscriber gets that when can I retire? It's very simple. I provide a spreadsheet for that I tell you exactly what the parameters are. There's no question. And if I'm too aggressive in my forecast, which is possible, then the result is that you end up with more money to give to your kids or your favorite charity, or whatever is important to you. You don't have to make it complicated. You just have to do it. But for now, remember, all you need to do is practice after which you'll get good. You're here in the simple success podcast where you landed well in your search for a financial life coaching from a happiness perspective. We come to you on a regular basis with podcasts, webinars and master classes together aimed at freeing you from the change that the financial industry puts on all of us. Most of us don't even know what those changes are. And in this spirit, we're not going to waste time trying to solve problems people don't even know they have better let's go up to common ground here we can overcome and we will do so. Join me for the ride of your life in a good way.