2 minutes
Editorial Invest in Slovakia
Episode 4 concludes the book by Dave Ramsey. Total Money Transformation taught us how to stabilize our financial situation and how to dig ourselves out of debt. In the last episode, we learn how to use the money you've earned and saved.
What will you learn in the new podcast?
Student loans are like a cancer
Dave considers student loans to be a cancer on society. The important thing is to put the money in a sensible savings mechanism, so you can invest it, for example, but you should choose assets that are relatively stable.
️ The last debt
If we have saved money for our children, paid off our debts, invested honestly and regularly, it is time to pay off the last debt. The mortgage. You're not paying off your car or your Macbook, from which you send emails and watch YouTube. You're paying off your own home. Dave says that when you take your shoes off on your own lawn, even the grass under your feet feels different. It's yours.
What is good money good for?
For three things: fun, investing and giving. If Dave makes you a millionaire, you should definitely do all three. You've flexed your financial muscles and now it's time to use them.
Investing is fun
Investing should be fun for us. It's a way to keep score of our success. A score in the game of life. Investing doesn't have to be complicated at all. The best results come from long-term investors who have a relatively narrow portfolio, but contribute to it regularly and hold onto it for years.
♂️ Surround yourself with wise people
You should surround yourself with people who are smarter than you are. They will advise you well. However, the final and most important decisions still have to be made by you. It is your wealth and you have acquired it. No one else will care about it as much as you do.
Donate to
Having fun and investing are great, but the last part - giving - is the real culmination of your journey. According to Dave, it's the best thing you can do with money. Only the strong can help the weak, and that includes money.
️In the podcasts, we cover money, productivity, investing, as well as living a fulfilled and abundant life.
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