Himalaya: Listen. Learn. Grow.
Slow Money Podcast
Welcome to the SlowMoneyClub. The show that gives you realistic ways of attaining financial freedom. In each this episode, we share Get Rich Slow strategies to help you go from employee to entrepreneur and turn your dreams into income streams. In this episode, we break down the previous discussion I had with John Corey from Property Fortress and delve deeper into one of the items he mentioned in passing. We also have another great book review and an update on Bitcoin Futures trading which launched exactly one month ago and will be expiring the same day this episode launches. 3 Key Points:
- John mentioned there are pros and cons of diversification but people rarely consider the disadvantages of diversification. Warren Buffett believes diversification may even raise risk if it reduces focus and Robert Kiyosaki considers it a strategy for not losing. We delve into the topic in more detail.
- After bitcoin futures debuted frantic trading caused the price of the January contract to rise from around $15,000 to almost $20,000. Today those contracts will be settled for about $10,700. The short sellers win this round.
- To get 5% net income on buy and hold property investments, you need 20 times worth of equity. E.g. To get a £5k net income, you need to invest at least £100k.
Links and Resources mentioned: Ask John – have a 20min chat with John Corey about anything! Edutopia Books: Thinking Fast and Slow by Daniel Kahneman On Amazon/Audible Join the club at SlowMoneyClub.com. Or send us an email @slowmoneyclub on your favourite social media platform including: Facebook Instagram Twitter [spp-player]