3313: How Not to Invest $100,000 by Chris Reining on Investing & Building Wealth

Optimal Living Daily - Personal Development and Self-Improvement

Optimal Living Daily LLC

Health & Fitness, Mental Health, Self-improvement, Education

4.6 • 3.2K Ratings

🗓️ 8 September 2024

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3313: Chris Reining illustrates the pitfalls of active investing through the story of a man who lost money by constantly tinkering with his $100,000 portfolio. Reining emphasizes that the keys to successful investing are patience and viewing stocks as ownership in companies rather than mere prices. By adopting a long-term, buy-and-hold strategy, investors can avoid common mistakes and build wealth more effectively. Read along with the original article(s) here: https://chrisreining.com/invest-100000/ Quotes to ponder: "The stock is not the company and the company is not the stock." "Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years." "All the research shows being an active investor is what makes you poor." Episode references: The Simple Path to Wealth: https://www.amazon.com/Simple-Path-Wealth-financial-independence/dp/1533667926 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is optimal living daily. How not to invest $100,000 by Chris Reining of Chris Reining.
0:09.0	And I'm Justin Mollick. Welcome back. This is the Sunday Bonus episode where I share an extra episode from the
0:15.1	OLD network and today's comes from optimal finance daily. Please do
0:20.4	subscribe to or follow optimal finance daily wherever you're listening to this to keep all of this going.
0:25.2	It really helps a lot.
0:26.9	But for now let's get right to the bonus episode and Diana's commentary as we optimize your life.
0:37.0	How not to invest a hundred thousand dollars
0:41.0	by Chris Reining of Chris Reining.com.
0:46.0	A friend called me up scared.
0:48.0	They've spent the last 20 years working to pay off student loans,
0:52.0	buy a house, raise a family, and so saving for retirement
0:56.7	wasn't a priority. Where do I start? It was a good reminder. It's easy to forget how confusing and daunting investing is when you're getting started.
1:09.0	Which reminds me of a story about a guy who had a hundred thousand dollars to invest. The first
1:15.7	thing he did was buy 20 stocks, putting five grand into each. But then he thought
1:21.9	he should be making more money and sold those shares to buy Chinese
1:26.0	companies. As he learned more about the market, he discovered options and started buying
1:31.9	calls, putting $5,000 in and making double that in a day.
1:37.4	His gains eventually evaporated.
1:39.7	Easy money never lasts.
1:42.4	Then he decided to put a concentrated portfolio of growth stocks
1:46.4	and put his entire hundred grand into square at $75. The stock price quickly soared to $100 and he was daydreaming about early retirement
1:57.3	But it wasn't long before it fell back to $75. Next he read the best way to make money in the current market
	...

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