Join the free personal wealth building class here: https://ikario.com/wealthclass
Difficult economic times are upon us. Inflation is seeing record highs, destroying people's purchasing power and at the same time assets like stocks and crypto have been plummeting in value. Not to mention a war in Europe, talks about energy and food shortages...
Where does this all lead? How can mere mortals still work their way towards financial freedom, when the odds seem so strongly stacked against us?
That's what we discuss in today's episode.
00:00:00 - Why personal finance?
00:04:20 - Is the economy screwed?
00:07:11 - The most important question to ask
00:17:50 - Knowledge is power/wealth
00:21:46 - Active vs. passive investing
00:26:07 - How to win with an imperfect strategy
00:34:28 - The game is not to make money fast...
00:35:32 - Are current asset prices a good buying opportunity?
00:40:44 - Why things might still get worse
00:46:18 - Narrative overextension
00:54:29 - Why you must make your own financial decisions
00:57:52 - Income Expense Gap
01:03:00 - My biggest investing mistake last year
01:07:35 - Be a participant
01:12:20 - Plan to get rich slowly
Learn my simple model for strategic thinking: https://ikario.com/decisions/
