4.8 • 793 Ratings
🗓️ 23 December 2024
⏱️ 37 minutes
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As we close out the year I want to give you what I think is the best gift that I could possibly give, a lesson about planning what to do with the wealth you create in your life.
The biggest mistake that I ever made in my career was not having a concrete plan after the exit of my company. I thought I could apply the same skillsets I'd developed as an entrepreneur to being an investor and it turned out that growing my money required a completely different mindset.
In this compound I share how my thoughts on investing have evolved and what you can do to make sure that your profits not only grow, but grow in a way that is diversified, safe, and still exciting to your long-term goals.
If you want to build your own million dollar brand, head to https://capitalism.com/playbook to download the Free Playbook to start on your own road to $1M and beyond.
To get on the waitlist for the Capitalism Accelerator, head to https://capitalism.com/launch
Connect with me on Instagram at https://instagram.com/ryandanielmoran
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0:00.0 | Hello everyone, welcome back to capitalism.com. I'm Ryan Daniel Moran. |
0:08.0 | I hope you had a fruitful 2024 and are looking ahead to optimism in 2025. As we close out the year, |
0:17.0 | I want to give you what I think is the best gift that I could possibly give you, the |
0:22.5 | best lesson that I could leave you with. It's a lesson that I have had to relearn over the last |
0:29.0 | year and a half to two years. And it comes on the heels of the biggest mistake that I have |
0:35.4 | ever made in my career. The biggest mistake that I ever |
0:39.3 | made, or at least the most expensive mistake that I ever made in my career, was not having |
0:44.8 | a plan for what to do with my money ahead of time. I thought I did. I read books about it. |
0:53.0 | I had other people's opinions about what you should do with your |
0:56.3 | money to grow your wealth, but I didn't have an actual plan. When I went to college, I studied |
1:03.0 | economics, and it was during the financial meltdown of 2007 and 2008. And my background was in a branch of economics called Austrian economics, |
1:14.3 | which always believes that the world is going to hell in a handbasket. So I believed that the |
1:19.5 | world was going to continue to decline. I thought that the American economy would continue to |
1:25.1 | decline. And as a result, I stayed on the sidelines |
1:28.6 | did not invest, did not follow traditional investing advice, and I lost out on some of the biggest |
1:35.4 | bull markets in history. I had a lot of money sitting on the sidelines that I wasn't sure |
1:41.7 | what to do with, and the result was that I always felt stressed, |
1:45.3 | intense, and anxious about making more money. |
1:49.9 | Whereas the job of your investment plan |
1:53.2 | should be to give you a sense of ease |
1:57.0 | so that you can go kill it in business. |
1:59.7 | Most entrepreneurs take the same lens that they view |
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