Complacency is The Enemy of Wealth Building
Welcome to the 106th edition of the Inkosi Wealth Scoop!
In this episode, I’m going to talk about the fragility of wealth and some key takeaways that can guide you on your financial journey.
I want to help you understand that no matter how successful you’ve been till now, there’s always a risk of error so it’s really important to keep your finger on the pulse of the market.
- Key Takeaway #1: Don’t Get an Inflated Opinion of Wealth Building Abilities
- Key Takeaway #2: Think About Your Habits and Rules
- Stop Crystal ‘Ballgazing’
- Key Takeaway #3: Stop Seeking A Home Run in Everything You Do
If you don’t want to be like many other investors who have lost a great amount of wealth because they got complacent and lazy with their thinking, you’ll want to listen to this episode!
00:04:11 Key Takeaway #1: Don’t Get an Inflated Opinion of Wealth Building Abilities
00:06:32 Key Takeaway #2: Think About Your Habits and Rules
00:10:08 Stop Crystal ‘Ballgazing’
00:12:28 Key Takeaway #3: Stop Seeking A Home Run in Everything You Do
Hey, guys. Welcome back to the podcast. Today’s is a very important topic and quite a sombre topic, to be honest. I really want to talk a little bit about the fragility of wealth.
Certainly, conversations that I’ve been having with investors over the last 10 years or so have very clearly helped me understand that there are a lot of investors out there who believe that wealth only moves in one direction and feel very off-kilter when circumstances beyond their control often cause them to lose great amounts of wealth.
If you haven’t personally experienced that, I think you’re very fortunate.
But I guess the real lesson that I want to tease out for you today is really to help you understand that no matter how successful you’ve been till now, there’s always room for error, and there’s always a risk of error.
I think what I often see happening is that investors do pull a few good moves and start to believe that they’re infallible. Read More
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