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Radical Personal Finance

569-You Don't Have to Be Smart to Become Financially Independent...But You Can't Be Stupid (pt. 3 of 5)

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Self-improvement, Business, Education, Investing

4.21.9K Ratings

🗓️ 27 July 2018

⏱️ 10 minutes

🧾️ Download transcript

Summary

Part 3 of a 5-part series called, "You Don't Have to Be Smart to Become Financially Independent...But You Can't Be Stupid."

Today we discuss your investments.

Joshua

Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to Radical Personal Finance, the Show Dedicated to Providing You

0:03.0

You, to provide you with the knowledge, skills, insight, and encouragement you need,

0:05.6

to live a rich and meaningful life now, while building a plan for financial freedom in

0:09.7

ten years or less. My name is Joshua,'m your host and today we continue with part

0:13.7

three of our five-part series called You don't have to be smart to become

0:17.5

financially independent but you can't be stupid and today I want to talk to you about your investments. Part three of my

0:24.9

framework for wealth is invest wisely. By way of reminder, part one is increase income.

0:29.9

Two is decrease expenses and 3 is invest wisely.

0:34.3

You must invest wisely in order for you to become financially independent.

0:41.6

But here's the great news.

0:43.0

Wise investing is not that hard to do.

0:50.0

The information is relatively straightforward.

0:55.0

All it requires is for you to be thoughtful and careful in your decision-making.

1:00.0

All it requires is for you to be thoughtful and careful in your decision-making.

1:05.1

Now the first thing that you'll need to consider when it comes to investing wisely,

1:09.3

you'll need to consider what type of investments would be best for you? There are some people who are very

1:14.7

well suited to investing in stocks. There are some people who are not well suited to

1:19.7

investing in stocks. Do a careful analysis and try to figure out what would be best for you.

1:27.6

If you enjoy your job, you find your job to be meaningful and you're earning a sufficient level of income there.

1:34.2

You like to spend your weekends down at the lake and you don't have any other major business interests.

1:40.0

You're not that interested in buying houses.

1:47.0

Then go and just invest money into mutual funds in your 401k. The fundamentals of stock investing are very simple.

...

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