Nov 30, 2021
Summary:
Lack of financial education creates some of the most pressing
problems that people face in their lives. I sit down with
bestselling author and financial expert John MacGregor to discuss
how to tackle this, and what you can do to get on the right track.
When it comes to finances, it can be helpful to learn from the
mistakes of others and look for advice on how to avoid financial
mistakes. Tune in to hear more on the philosophy behind better
financial decision making and to learn how you can change your
mindset and practices.
Highlights:
-Lack of financial education is causing a lot of problems amongst
individuals
-The percentage of people living paycheck to paycheck has gone up
significantly
-Many people know what to do with their money but don’t do it—it’s
more of a behavioral problem
-Learning from people’s mistakes is genius—it’s important to learn
why people suffer financially and how to avoid this
-There are many underlying beliefs that make us form bad spending
habits, and it causes people to get stuck in a bad cycle
-Other aspects of your life improve as well when you improve your
financial habits and mindset
-“Above the line, below the line” is a mentality that helps
-Many people think that there is a quick fix to your financial
problems—or hope in a box
-Small things you do on a daily basis can transcend your entire
life
-Be, do, and have—it’s important to do all of these things
-For many people, it’s not enough of a priority to make the changes
they need to make until it’s too late
-It’s important to understand what drives people to make specific
financial decisions, and what their beliefs are
-There’s a direct correlation between financial disorganization and
financial destruction
-Hope is not a retirement strategy—it’s important to start thinking
and planning now for your future
Useful Links:
Financial Survival Network
John MacGregor
Bullish on Gold? Why Not Own the
Gold Mine? – Robert Kiyosaki, Peter Schiff, John MacGregor
Wall Street is Gambling with Your
401(k) – Robert Kiyosaki, Ted Siedle, and John MacGregor