1148: An Investment Gone Bad by ESI of ESI Money on How To Lose Money in Real Estate Buying Vacant Land

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 1 May 2020

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

ESI of ESI Money shares an investment gone bad. Episode 1148: An Investment Gone Bad by ESI of ESI Money on How To Lose Money in Real Estate Buying Vacant Land ESI Money is written by "ESI", a 50-something retiree. The site is basically a list of what's allowed him to become financially independent and how you can implement those successes in your life. His philosophy is simple and focuses on doing three simple things to achieve financial independence: earn, save, invest. There's a bit more to it than that, of course, but if you can concentrate on these three areas, they will get you at least 90% of the way there. The original post is located here: https://esimoney.com/investment-gone-bad/ Visit Me Online at OLDPodcast.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily, episode 1148, an investment gone bad by ESI of ESI Money.
0:09.1	And I'm Dan, I am your host here on Optimal Finance Daily.
0:12.1	Welcome to the Daily Show where I read to you
0:14.8	from some of the best personal finance blogs on the planet.
0:18.1	Happy 1st of May as well, and thanks so much for being with us.
0:21.8	Our post today is from ESI Money.com. And hey if you didn't
0:26.3	know about this we give away books on Instagram pretty frequently so if you're not
0:29.9	following us there you can find us at old Podcast but for now let's get to today's post as
0:35.6	we optimize your life. An Investment Gone Bad by ESI of ESI Money.com
0:47.0	This site often seems like a brag fest to me. Many of the posts are about how I did this well or did that well. Of course I've had my successes and they are worth learning from.
0:58.0	But as we've seen now and then, I've also made a lot of mistakes.
1:02.0	Fortunately, these have been limited in number and not that large,
1:05.6	but they do happen and are just as worthwhile to learn from as the successes. In addition,
1:10.8	I think it's useful for people to see that even those who accumulate a good amount of wealth have had some pretty big doosies.
1:17.0	This is why I've started asking millionaires that I interview what their biggest money mistakes are, so we all can see that they aren't perfect and
1:24.8	still ended up wealthy.
1:26.5	So today I'll have the story of an investment mistake I made many years ago which came back
1:30.9	to hauntony recently.
1:33.0	The Five Closest People to you.
1:35.8	You've probably heard the following quote.
1:37.8	You are the average of the five people you spend the most time with.
1:41.5	This is an accepted fact in many self-help circles and quoted quite
	...

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