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Investing for Beginners: Personal Finance
- Making Money
- Narrated by: Dave Wright
- Length: 52 mins
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Investing for Beginners: Personal Finance
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Summary
Do you want to know the secrets to investing? Schools used to teach practical skills such as home economics, workshop, and things that might have helped you as an adult. With the global economy, everything practical has been pushed out of school and into life.
"In school, you're taught a lesson and then given a test. In life, you're given a test that teaches you a lesson." - Tom Bodett
In this global, 24/7 economy, if you want to get ahead, then you have to teach yourself what others have already learned and what 98 percent of people will be too lazy or oblivious to learn.
Does this mean that you can outwork the majority of people to get ahead? Yes. But you would benefit from merely being able to out-think them, which is much easier and much more productive.
Vilfredo Pareto noticed an unequal relationship between inputs (work) and outputs (results). His theory, commonly known as the 80/20 principle, states that 20 percent of my effort is responsible for 80 percent of my results. The 20 percent of the effort you invest should be in optimizing and taking control of four crucial areas of your life: personal finance, real estate investing, money making opportunities, and business investing.