20 Burst results for "Chris Rining"

"chris reining" Discussed on Optimal Finance Daily

Optimal Finance Daily

04:08 min | Last week

"chris reining" Discussed on Optimal Finance Daily

"One Saturday afternoon wandering the aisles in K. Marts, electronics, department I saw it for sale. Cool. I'm getting it. The price was sixteen, Ninety, eight for whatever reason I did the mental math to figure out the album didn't really cost me seventeen dollars. No, it costs four hours on your feet washing never ending streams of bus tubs overflowing with half finished plates of meat balls is this CD worth four hours of my time. In this case it was but more importantly, you realize the money tucked in your wallet isn't money at all. It's time disguised as money. In fact, it was Benjamin Franklin who said time is money but in our hectic day to day lives, it's easy to forget this. When you spend your money, what you're really doing is spending your time, which means if you waste your money, you waste your time. anyways throw my teens I worked a series of jobs, bagging groceries, stocking merchandise theater concessions, and mostly saved my earnings my time to precious and then I went off to college started a career and forgot what I learned. have. You heard that saying from Texas big hat no cattle meaning you can look rich but be poor. It's hard to believe people who make lots of money are poor. But then your tax preparer tells you they see plenty of families making three hundred thousand dollars and living paycheck to paycheck Thomas Stanley profiles. These folks in the millionaire next door, the doctor lawyer types who drive fancy cars living exclusive neighborhoods and take exotic vacations they look rich, but it's an illusion. It's the families who make one hundred, thousand dollars spent forty thousand and have a million dollars in the bank who are rich. Isn't the worst irony that the simplest way to get rich and have lots of money to spend his by not spending lots of money. But just because it's simple to get rich doesn't mean it's easy spend less than you earn and invest the difference that simple would makes getting rich so difficult is that spending less than you earn takes discipline the median retirement account is worth twenty, five, thousand dollars, and so the problem isn't paying people more money they'll save more give people more money to spend and they'll spend more money. I know this because back in my twenties, I spent just like the next person you think acquiring loss of material possessions satisfying all your superficial desires is the key to happiness. It took me years to relearn what I knew as a teenager. The things you buy with money that you surround yourself with aren't things at all it's your time. And research shows it's having control over your time that makes you happiest not money and things. So, most people have a choice. You can trade time for money and money for things, or you can trade time for money and then use that money as a tool to buy back time. That's why you save and invest, which reminds me of what stoic philosopher Seneca said quote. It's not that we have a short time to live but that we waste much of it life is long enough and it's been given to us in generous measure for accomplishing the greatest things if the whole of it is well invested. But when life is squandered through soft and careless living, and when it spent on no worthwhile pursuit death finally presses and we realized that the life which we didn't notice passing has passed away and quote. What he's saying is when you're about to die, you realize life is time and doesn't that make time your most precious resource. Here think about it like this see, you've worked forty hours per week for the past ten years. You've traded twenty thousand hours of your time. That's forty hours times, fifty weeks, times, ten years, and on the other side of the trade is everything you've consumed sure necessities like food clothing, shelter and healthcare but probably a bunch of other stuff you've totally forgotten about buried in the back of some closet. Was it a fair trade? Maybe it was maybe it wasn't but people are always telling me they've earned million dollars over the past ten years and have nothing to show for it and it makes them sick. They're not complaining about wasting their money. What they're complaining about is wasting their time. Trade wisely. Sir. You just listened to the post titled.

K. Marts Benjamin Franklin Thomas Stanley Texas Seneca
What Everyone Forgets About Money

Optimal Finance Daily

04:44 min | Last week

What Everyone Forgets About Money

"What everyone forgets about money by Crowning Chris. RINING DOT COM. Washing dishes was how I earned my first paycheck when you're fifteen years old and don't get money from your parents to buy things then you have to work. So there. I was scrubbing dishes in the filthy kitchen of a small family owned Italian restaurant, and it's where I learned a little life lesson work is nothing more than trading time for money a medium of exchange. You provide one hour of time to an employer and they provide an hour's wage. I quickly discovered teenagers time isn't worth all that much a measly four, twenty, five per hour. Not long after starting that job I wanted this blind melon album. You might remember their catchy song no rain. One Saturday afternoon wandering the aisles in K. Marts, electronics, department I saw it for sale. Cool. I'm getting it. The price was sixteen, Ninety, eight for whatever reason I did the mental math to figure out the album didn't really cost me seventeen dollars. No, it costs four hours on your feet washing never ending streams of bus tubs overflowing with half finished plates of meat balls is this CD worth four hours of my time. In this case it was but more importantly, you realize the money tucked in your wallet isn't money at all. It's time disguised as money. In fact, it was Benjamin Franklin who said time is money but in our hectic day to day lives, it's easy to forget this. When you spend your money, what you're really doing is spending your time, which means if you waste your money, you waste your time. anyways throw my teens I worked a series of jobs, bagging groceries, stocking merchandise theater concessions, and mostly saved my earnings my time to precious and then I went off to college started a career and forgot what I learned. have. You heard that saying from Texas big hat no cattle meaning you can look rich but be poor. It's hard to believe people who make lots of money are poor. But then your tax preparer tells you they see plenty of families making three hundred thousand dollars and living paycheck to paycheck Thomas Stanley profiles. These folks in the millionaire next door, the doctor lawyer types who drive fancy cars living exclusive neighborhoods and take exotic vacations they look rich, but it's an illusion. It's the families who make one hundred, thousand dollars spent forty thousand and have a million dollars in the bank who are rich. Isn't the worst irony that the simplest way to get rich and have lots of money to spend his by not spending lots of money. But just because it's simple to get rich doesn't mean it's easy spend less than you earn and invest the difference that simple would makes getting rich so difficult is that spending less than you earn takes discipline the median retirement account is worth twenty, five, thousand dollars, and so the problem isn't paying people more money they'll save more give people more money to spend and they'll spend more money. I know this because back in my twenties, I spent just like the next person you think acquiring loss of material possessions satisfying all your superficial desires is the key to happiness. It took me years to relearn what I knew as a teenager. The things you buy with money that you surround yourself with aren't things at all it's your time. And research shows it's having control over your time that makes you happiest not money and things. So, most people have a choice. You can trade time for money and money for things, or you can trade time for money and then use that money as a tool to buy back time. That's why you save and invest, which reminds me of what stoic philosopher Seneca said quote. It's not that we have a short time to live but that we waste much of it life is long enough and it's been given to us in generous measure for accomplishing the greatest things if the whole of it is well invested. But when life is squandered through soft and careless living, and when it spent on no worthwhile pursuit death finally presses and we realized that the life which we didn't notice passing has passed away and quote. What he's saying is when you're about to die, you realize life is time and doesn't that make time your most precious resource. Here think about it like this see, you've worked forty hours per week for the past ten years. You've traded twenty thousand hours of your time. That's forty hours times, fifty weeks, times, ten years, and on the other side of the trade is everything you've consumed sure necessities like food clothing, shelter and healthcare but probably a bunch of other stuff you've totally forgotten about buried in the back of some closet. Was it a fair trade? Maybe it was maybe it wasn't but people are always telling me they've earned million dollars over the past ten years and have nothing to show for it and it makes them sick. They're not complaining about wasting their money. What they're complaining about is wasting their time. Trade wisely.

K. Marts Benjamin Franklin Thomas Stanley Texas Seneca
"chris reining" Discussed on Optimal Finance Daily

Optimal Finance Daily

04:54 min | Last month

"chris reining" Discussed on Optimal Finance Daily

"Why pros can't beat the market, , but you can buy Chris rining of Chris. . rining. . Dot Com. . A small part of my investment portfolio is an index fund tracking the market, , and apparently I'm not alone over the past few years. . Trillions of dollars have flowed into index funds as people realize highly paid professional money managers seldom beat the market. . Bill. . Man after spending eight years running active funds explained why that's a difficult task. . Quote Fund, , managers are under pressure to be predictable by showing low tracking error, , which essentially means funds have to try to beat their benchmarks while tracking their benchmarks closely. . Does that remotely make sense? ? End Quote? ? To say that another way fund managers become closet indexes. . For instance, , if they say they're benchmark is the S. and P. Five hundred they need to assemble a portfolio of stocks that closely resembles the S. and P. Five hundred because if they're fund underperforms its benchmark investors pull their money out. . And that's the game fund managers are playing to attract and keep the most money because fees are percentage based the fund with ten billion dollars under management rakes in more than the three billion dollar one. . But. . Here's what took me years to realize saying that professional money managers can't beat the market has. . Nothing to do with what you can or can't do please listen to that again. . Here's why small-time investors like you and me have an enormous advantage over any professional. . One you're a speedboat there a battleship. . You're investing small amounts of money, , not many hundreds of millions or billions. . What do you think happens when a fund manager finds an underpriced stock and starts buying millions worth it causes the price to go up and there goes the advantage. . To No one's looking over your shoulder. . Fund managers have bosses breathing down their neck making sure they're tracking their benchmarked prevent withdrawals. . It's the old nobody ever got fired for investing in IBM, , or now Apple Syndrome. . It's very hard to get market beating results when you're forced to invest conventionally. . Three you didn't study investing. . The SMART, , people with Mba's who study modern portfolio theory and understand those squiggly lines on technical charts have been conditioned to believe investing can be broken down into some science like engineering or physics. . So neat and tidy. . nope. . It can't markets involve messy people. . Anyone can pick stocks trying to beat the market that doesn't mean everyone should stocks take a certain set that outlined before in my blog and it helps to have help which is why I use Motley fool stock advisor. . Speaking of them, , there's no question there. . Stock Picking Methods beats the market because they're picking better than average docs from their website as of today five return up sixty percent S. and P. Five, hundred , up thirty seven, , percent seventeen year return up three hundred, , eighty, , two percent S&P Five, hundred , up ninety, one , percent over the past five years they've eaten the market by twenty, , three percent. . And so if you're interested in picking stocks, , it might be as simple as buying and holding their latest recommendations for years to come sure you'll get some picks wrong and that's okay. . The idea is your winners will more than make up for the losers and I know because I've picked some duds but my returns still beat the market. . This is similar to how Jeff bezos thanks. . Quote we've made doozy's like the fire phone and many other things that just didn't work out. . We don't have enough time to list all of our field experiments, , but the big winners pay for thousands of field experiments and quote. . anyways, , one of the most phenomenal small-time investors I know is Saul. . Rosenthal. . He's been compounding money at thirty percent or so for thirty some years but also works harder at it than anyone. . He currently owns nine stocks only his very best ideas and always thinks deeply about them trying to find his blind spots. . You might think having your life savings in nine stocks is nuts but I've learned it's better to have a small portfolio where you know a lot about a few companies than some gigantic portfolio were you know little about lots? ? I've trimmed my portfolio to fifteen stocks and at index fund it feels good of course, , running a concentrated portfolio like that takes more work when all your eggs are in one basket, , you watch that basket. . But if you find the work enjoyable like it's a game for you, , the results can be life changing. . Does all this make sense I bet you'll always hear things like if professional money managers can't beat the market with their huge budgets and computing resources then neither can you Again just because they can't beat the market has absolutely nothing to do with what you can or can't do value investor monae per Bri. . said it best quote investing is a peculiar business. . The larger one gets the worst one is likely to do. . So this is a field where the individual investor has a huge leg up on the professionals and large investors and quote. .

fund manager Saul Chris rining Jeff bezos Mba IBM advisor Bri. Rosenthal
Why Pros Can't Beat the Market, but You Can by Chris Reining

Optimal Finance Daily

04:54 min | Last month

Why Pros Can't Beat the Market, but You Can by Chris Reining

"Why pros can't beat the market, but you can buy Chris rining of Chris. rining. Dot Com. A small part of my investment portfolio is an index fund tracking the market, and apparently I'm not alone over the past few years. Trillions of dollars have flowed into index funds as people realize highly paid professional money managers seldom beat the market. Bill. Man after spending eight years running active funds explained why that's a difficult task. Quote Fund, managers are under pressure to be predictable by showing low tracking error, which essentially means funds have to try to beat their benchmarks while tracking their benchmarks closely. Does that remotely make sense? End Quote? To say that another way fund managers become closet indexes. For instance, if they say they're benchmark is the S. and P. Five hundred they need to assemble a portfolio of stocks that closely resembles the S. and P. Five hundred because if they're fund underperforms its benchmark investors pull their money out. And that's the game fund managers are playing to attract and keep the most money because fees are percentage based the fund with ten billion dollars under management rakes in more than the three billion dollar one. But. Here's what took me years to realize saying that professional money managers can't beat the market has. Nothing to do with what you can or can't do please listen to that again. Here's why small-time investors like you and me have an enormous advantage over any professional. One you're a speedboat there a battleship. You're investing small amounts of money, not many hundreds of millions or billions. What do you think happens when a fund manager finds an underpriced stock and starts buying millions worth it causes the price to go up and there goes the advantage. To No one's looking over your shoulder. Fund managers have bosses breathing down their neck making sure they're tracking their benchmarked prevent withdrawals. It's the old nobody ever got fired for investing in IBM, or now Apple Syndrome. It's very hard to get market beating results when you're forced to invest conventionally. Three you didn't study investing. The SMART, people with Mba's who study modern portfolio theory and understand those squiggly lines on technical charts have been conditioned to believe investing can be broken down into some science like engineering or physics. So neat and tidy. nope. It can't markets involve messy people. Anyone can pick stocks trying to beat the market that doesn't mean everyone should stocks take a certain set that outlined before in my blog and it helps to have help which is why I use Motley fool stock advisor. Speaking of them, there's no question there. Stock Picking Methods beats the market because they're picking better than average docs from their website as of today five return up sixty percent S. and P. Five, hundred up thirty seven, percent seventeen year return up three hundred, eighty, two percent S&P Five, hundred up ninety, one percent over the past five years they've eaten the market by twenty, three percent. And so if you're interested in picking stocks, it might be as simple as buying and holding their latest recommendations for years to come sure you'll get some picks wrong and that's okay. The idea is your winners will more than make up for the losers and I know because I've picked some duds but my returns still beat the market. This is similar to how Jeff bezos thanks. Quote we've made doozy's like the fire phone and many other things that just didn't work out. We don't have enough time to list all of our field experiments, but the big winners pay for thousands of field experiments and quote. anyways, one of the most phenomenal small-time investors I know is Saul. Rosenthal. He's been compounding money at thirty percent or so for thirty some years but also works harder at it than anyone. He currently owns nine stocks only his very best ideas and always thinks deeply about them trying to find his blind spots. You might think having your life savings in nine stocks is nuts but I've learned it's better to have a small portfolio where you know a lot about a few companies than some gigantic portfolio were you know little about lots? I've trimmed my portfolio to fifteen stocks and at index fund it feels good of course, running a concentrated portfolio like that takes more work when all your eggs are in one basket, you watch that basket. But if you find the work enjoyable like it's a game for you, the results can be life changing. Does all this make sense I bet you'll always hear things like if professional money managers can't beat the market with their huge budgets and computing resources then neither can you Again just because they can't beat the market has absolutely nothing to do with what you can or can't do value investor monae per Bri. said it best quote investing is a peculiar business. The larger one gets the worst one is likely to do. So this is a field where the individual investor has a huge leg up on the professionals and large investors and quote.

Fund Manager Saul Chris Rining Jeff Bezos MBA IBM Advisor Bri. Rosenthal
"chris reining" Discussed on Optimal Finance Daily

Optimal Finance Daily

05:31 min | 3 months ago

"chris reining" Discussed on Optimal Finance Daily

"We have the opportunity to unleash it on our finances saving time saving his money, and perhaps best of all simplifying our lives. Here's the three reasons to automate your finances. One. You're wasting your time. Transferring money between accounts finding bills paying bills filing statements and driving to the bank to deposit paychecks, all steel, precious time from our everyday lives by freeing up more time we can focus on the big wins like our career or education and skills or aside business. To, you're wasting your money. Not Handling personal finances automatically and electronically we open ourselves up to late payment, penalties, fees and other.

"chris reining" Discussed on Optimal Finance Daily

Optimal Finance Daily

02:22 min | 4 months ago

"chris reining" Discussed on Optimal Finance Daily

"If you saw them on the street they wouldn't look rich but they're richer than the doctors and lawyers and everyone else busy upgrading their lifestyle. Here's how the math works for financial independence. Let's say you're earning one hundred thousand dollars and spending forty thousand. That means you need a million dollars. Forty thousand multiplied by twenty five and this is based on the four percent rule. The four percent rule means you can safely withdraw four percent from your investments each year. Adjust your withdrawal for inflation and never run out of money. How long does it take for a million dollars? When you're investing sixty thousand dollars a year and getting a seven percent return it takes ten years and you can see a calculator via a link in this post and yes not everybody is earning one hundred thousand dollars. So what if you're earning say fifty thousand well? If you're spending forty thousand you need the same one million but that takes thirty years investing ten thousand a year. Reduce your spending to thirty thousand and you need. Investments worth seven hundred fifty thousand thirty thousand multiplied by twenty-five that takes eighteen years shaving off twelve years. Spend twenty thousand and you need half million twenty thousand multiply by twenty five. That takes ten years. Here's another way to look at this. People who earn one hundred thousand dollars and spend forty thousand can retire in ten years the same as people who are in fifty thousand and spend twenty thousand. You see every dollar. You don't spend is accomplishing two things. It reduces the amount you need and reduces how long it takes to get there. This concept works equally well for everyone but the biggest problem I see is when people try to get their spending two zero. They Brag about switching to flannel toilet paper to save seventeen dollars a year at some point. You're wasting your time because you can be spending that time maximizing your earnings. You don't even have to spend money to make money looking back. Ironed MORE BY MAKING INVESTMENTS IN MYSELF. That cost little to nothing you can get. Career Mentor. Join a mastermind adnew talents or just read books and upgrade knowledge. What you're doing is making yourself more valuable. And when you're more valuable people will pay you more for what you do. The best part getting a five thousand or ten thousand dollar raise isn't just one big novelty sized cardboard check. You.

"chris reining" Discussed on Optimal Finance Daily

Optimal Finance Daily

03:13 min | 6 months ago

"chris reining" Discussed on Optimal Finance Daily

"Tenfold <Silence> <Advertisement> and <SpeakerChange> quote <Speech_Male> <Advertisement> that could very <Speech_Male> well be the best investment <Speech_Male> advice buffet <Speech_Male> has ever given <Speech_Male> what he's seeing <Speech_Male> his keep adding <Speech_Male> to your talents. <Speech_Male> Things like <Speech_Male> public speaking writing <Speech_Male> <Advertisement> design persuasion <Speech_Male> <Advertisement> technology <Speech_Male> <Advertisement> and a second language. <Speech_Male> <Advertisement> This <Speech_Male> makes you the architect. <Speech_Male> Who's a great public <Speech_Male> speaker and writer or <Speech_Male> the personal trainer <Speech_Male> <Advertisement> with a mastery of psychology <Silence> <Advertisement> and persuasion? <Speech_Male> <Advertisement> Better <Speech_Male> <Advertisement> yet. This is how you <Speech_Male> <Advertisement> become more valuable. <Speech_Male> <Advertisement> And when you're more <Speech_Male> <Advertisement> valuable people <Speech_Male> <Advertisement> pay you more for <Speech_Male> <Advertisement> what you do. <Speech_Male> <Advertisement> Investment number <Speech_Male> four removed <Silence> decision <Speech_Male> <Advertisement> I used <Speech_Male> to eat out for lunch and <Speech_Male> <Advertisement> it would go something like this. <Speech_Male> <Advertisement> Do <Speech_Male> <Advertisement> I feel like Mexican? Food <Speech_Male> <Advertisement> Indian Mediterranean. <Speech_Male> <Advertisement> <Speech_Male> <Advertisement> Okay how about <Speech_Male> <Advertisement> Mexican there's <Speech_Male> <Advertisement> the Taco truck <Speech_Male> <Advertisement> that hole in the wall <Speech_Male> <Advertisement> place. Maybe <Silence> <Advertisement> try something new <Speech_Male> <Advertisement> okay. <Speech_Male> How many hours of my life <Speech_Male> did I waste just <Speech_Male> thinking about lunch <Silence> a lot <Speech_Male> so I decided <Speech_Male> <Advertisement> to try eating the same <Speech_Male> <Advertisement> simple lunch <Speech_Male> <Advertisement> every day? A Sandwich <Speech_Male> <Advertisement> and yogurt. <Speech_Male> <Advertisement> It sounds insane <Speech_Male> but this changed <Speech_Male> <Advertisement> my life because I didn't <Speech_Male> <Advertisement> need to think about lunch <Speech_Male> <Advertisement> anymore. The decision <Silence> <Advertisement> had already been made <Speech_Male> for me. Like <Speech_Male> Scott Adams says <Speech_Male> quote <Speech_Male> losers have goals <Speech_Male> winners have systems <Speech_Male> and quote <Speech_Male> and these <Speech_Male> types of systems can be <Silence> applied across your <Speech_Male> life for <Speech_Male> example. You can have <Speech_Male> a certain dollar amount. <Speech_Male> Save one hundred <Speech_Male> dollars. Automatically <Speech_Male> <Advertisement> diverted to some <Speech_Male> <Advertisement> simple investments <Speech_Male> <Advertisement> before your paycheck <Silence> <Advertisement> ever hits your bank account <Speech_Male> <Advertisement> this way. <Speech_Male> You're spending what you have <Speech_Male> left after investing <Speech_Male> instead of <Speech_Male> investing what you have <Silence> left after spending <Speech_Male> <Advertisement> investment <Speech_Male> <Advertisement> number five. <Speech_Male> <Advertisement> Commit to being a <Silence> <Advertisement> lifelong learner. <Speech_Male> Someone <Speech_Male> encore once <Speech_Male> asked how to be as <Speech_Male> great as people like. <Speech_Male> <Advertisement> Steve Jobs Elon. <Speech_Male> <Advertisement> Musk and <Speech_Male> <Advertisement> Richard Branson <Speech_Male> <Advertisement> Justine. Musk <Speech_Male> <Advertisement> Alonzo ex-wife. <Speech_Male> Wrote <Silence> an incredible answer <Speech_Male> quote. <Speech_Male> They are more likely to <Speech_Male> go straight to a book. <Speech_Male> Perhaps a biography <Speech_Male> <Advertisement> of Alexander <Speech_Male> <Advertisement> the great or Catherine <Speech_Male> <Advertisement> the great or someone else. <Silence> <Advertisement> They consider Great <Speech_Male> Surfing. The net <Speech_Male> is a deadly time <Speech_Male> suck and given <Speech_Male> what they know their time <Speech_Male> is worth even <Speech_Male> <Advertisement> back in the day when <Speech_Male> <Advertisement> technically it was not <Speech_Music_Male> <Advertisement> worth that they can't <Silence> <Advertisement> afford it and <Speech_Male> <Advertisement> quote. <Speech_Male> <Advertisement> I imagine my time <Speech_Male> is worth three hundred <Speech_Male> <Advertisement> fifty dollars an hour <Speech_Male> <Advertisement> and ask myself <Speech_Male> <Advertisement> what's worth three <Speech_Male> <Advertisement> hundred fifty dollars <Speech_Male> <Advertisement> media consumption <Speech_Male> <Advertisement> no watching. <Silence> <Advertisement> Tv <Speech_Male> <Advertisement> No reading <Speech_Male> <Advertisement> learning and studying. <Speech_Male> <Advertisement> Yes <Speech_Male> <Advertisement> so why not <Speech_Male> try picking up a book <Speech_Male> and Upgrading Your <Speech_Male> Knowledge? The game <Speech_Male> here is to make <Speech_Male>

"chris reining" Discussed on Optimal Finance Daily

Optimal Finance Daily

03:14 min | 7 months ago

"chris reining" Discussed on Optimal Finance Daily

"But what <Speech_Male> I learned was that it was an <Speech_Male> <Advertisement> excellent time to <Speech_Male> invest money in the market <Speech_Male> because everything was <Silence> <Advertisement> on sale. <Speech_Male> <Advertisement> Seven <Speech_Male> <Advertisement> understand your <Speech_Male> <Advertisement> timeframe. <Speech_Male> <Advertisement> We don't invest <Speech_Male> <Advertisement> money that we might need <Speech_Male> <Advertisement> tomorrow next month <Speech_Male> <Advertisement> or even within <Silence> <Advertisement> a year or two <Speech_Male> <Advertisement> eight creed <Speech_Male> <Advertisement> an investment <Speech_Male> <Advertisement> policy and investing <Silence> journal in the book your <Speech_Male> money and your Brain <Speech_Male> Jason Zweig <Speech_Male> suggests writing <Speech_Male> an investment policy <Speech_Male> <Advertisement> which is much like a <Speech_Male> corporate policy. <Speech_Male> This is an <Speech_Male> <Advertisement> excellent idea because <Speech_Male> it takes the emotion <Speech_Male> out of investing <Silence> a dangerous trait <Speech_Male> <Advertisement> I have <Speech_Male> <Advertisement> written and use an investment <Speech_Male> <Advertisement> policy and <Speech_Male> <Advertisement> I- revise it as needed <Silence> <Advertisement> at least once a <Speech_Male> year the other <Speech_Male> beneficial habit is <Speech_Male> to keep an investment journal. <Speech_Male> My <Speech_Male> Journal consists of an <Speech_Male> entry for each stock <Speech_Male> in my portfolio. <Speech_Male> Where I write down the date <Speech_Male> I purchased shares. <Speech_Male> How many shares I <Speech_Male> purchased and at <Speech_Male> what price along <Speech_Male> with the PE ratio <Silence> and the cash flow yield. <Speech_Male> I also <Speech_Male> note the reasons <Speech_Male> why purchase the shares <Speech_Male> and how I felt <Speech_Male> <Advertisement> about the company as an <Silence> <Advertisement> investment. At that time <Speech_Male> <Advertisement> this has <Speech_Male> been really useful <Speech_Male> <Advertisement> in order to look back at <Speech_Male> <Advertisement> previous purchases <Speech_Male> <Advertisement> and reflect on <Speech_Male> <Advertisement> the decision to invest <Speech_Male> <Advertisement> at that point and <Speech_Male> <Advertisement> to learn from investing <Silence> <Advertisement> mistakes. <Speech_Male> <Advertisement> Nine <Speech_Male> read and learn <Silence> about investing. <Speech_Male> <Advertisement> There are an <Speech_Male> overwhelming number <Speech_Male> of resources on investing. <Speech_Male> <Advertisement> I <Speech_Male> stick to rather <Speech_Male> than the talking heads <Speech_Male> <Advertisement> on. Cnbc <Speech_Male> <Advertisement> which both tend <Speech_Male> <Advertisement> to be short sighted <Silence> <Advertisement> and fear inducing <Speech_Male> <Advertisement> and <Silence> <Advertisement> ten <SpeakerChange> have <Speech_Male> <Advertisement> fun. <Speech_Male> Meeting Financial Goals. <Speech_Male> Watching wealth <Speech_Male> build is exciting. <Speech_Male> I <Speech_Male> we might have a few thousand <Speech_Male> dollars and we <Speech_Male> <Advertisement> will never get anywhere <Speech_Male> <Advertisement> time passes <Speech_Male> and those few <Speech_Male> thousand dollars turn into <Speech_Male> tens of thousands. <Speech_Male> Then we think. <Speech_Male> Wow that was awesome. <Speech_Male> <Advertisement> We've never had <Silence> that much money before <Speech_Male> <Advertisement> as time <Speech_Male> goes by we pass <Speech_Male> the six figure amount <Speech_Male> then we may <Speech_Male> <Advertisement> pass the two hundred thousand <Speech_Male> <Advertisement> mark three hundred <Speech_Male> <Advertisement> thousand mark and maybe <Speech_Male> <Advertisement> even reached five hundred <Speech_Male> <Advertisement> thousand. <Speech_Male> <Advertisement> We realize anyone <Speech_Male> can do this <Speech_Male> for some amount <Speech_Male> of five hundred thousand <Speech_Male> may be enough to cover <Speech_Male> living expenses for <Speech_Male> the rest of their lives <Speech_Male> for others. <Silence> <Advertisement> They might be shooting for <Speech_Male> <Advertisement> a million. What <Speech_Male> <Advertisement> we realize is <Speech_Male> <Advertisement> that it takes time to <Speech_Male> build wealth hence <Speech_Male> number six <Speech_Male> being patient. <Speech_Male> There will be setbacks <Speech_Male> and recessions <Speech_Male> and unexpected expenses <Speech_Male> and

"chris reining" Discussed on Optimal Finance Daily

Optimal Finance Daily

02:01 min | 7 months ago

"chris reining" Discussed on Optimal Finance Daily

"I like the ladder if you're just getting started investing perhaps you're more comfortable having a professional manage your money before deciding to branch out on your own for decide what you want to invest in if we're letting someone else invest for us. We won't have to do anything except answer some questions from our financial planner. If we're investing ourselves. We might think about using popular funds like vanguard or even individual stocks like the latter. Ironically I choose to invest in consumer companies particularly the retail restaurant and technology sectors one of Warren Buffett's famous quotes is invest in. What you know. And for that reason my holdings include companies like Apple Amazon japodlay coach. Google Netflix priceline. Pinera whole foods and starbucks. I chose these companies because I use and familiar with their products. I own an apple laptop. I shop at Amazon. I Chow Down Burritos at AAA. I get hotel rooms from priceline and I shop at whole foods. Five decide how many stocks or funds to own we may only need a few funds to be well diversified. If we're investing in individual stocks we probably want to hold positions in about fifteen to twenty companies. It takes time to follow that many companies around two to four hours a week. If it's something you think you'll enjoy doing. You'll make the time for it if it's not you're probably better off with funds six be patient. Warren Buffett has said only by something that you'd be perfectly happy to hold if the market shut down for ten years the markets will go up and down. Our portfolio will go up and down invest in solid funds and or solid companies and. Don't sweat the normal market gyrations. Your job at this point is to invest regularly through those ups and downs. Most of us have been through a recession. Now two thousand eight to two thousand nine so we should understand when and when not to be fearful in two thousand eight. My portfolio hit a peak on September. Twenty second and dropped to its lowest point on November twenty fourth my portfolio lost forty percent of its value. In those two months. I was fine with that. Okay mostly fine with that..

"chris reining" Discussed on Optimal Finance Daily

Optimal Finance Daily

01:32 min | 8 months ago

"chris reining" Discussed on Optimal Finance Daily

"Of these issues can leave us. Feeling confused frustrated and unsure of how to navigate our everyday lives. The solution seems simple yet. Far Fetched as convincing mincing the manufacturers companies restaurants to better the health and wealth of us is far more difficult than it should be the solution for vanity sized clothes make the manufacturers factor is standardized sizing the solution for fast food sizes make the restaurants standardized them the solution for houses. We need to learn to buy less stuff and live in smaller houses. If consumers demand these things changes will happen my favorite tactic of all voting with your everyday dollars..

"chris reining" Discussed on Optimal Finance Daily

Optimal Finance Daily

05:06 min | 9 months ago

"chris reining" Discussed on Optimal Finance Daily

"On average the market <Speech_Male> falls ten percent <Speech_Male> once a year <Speech_Male> about twenty <Speech_Male> percent every four or <Speech_Male> five years <Speech_Male> and about thirty percent <Speech_Male> every decade. <Speech_Male> So can you tell me <Speech_Male> what happens when you borrow <Speech_Male> fifteen thousand <Speech_Male> dollars your investments <Speech_Male> rise nine <Speech_Male> percent the next two <Speech_Male> years but then falls fall <Speech_Male> save twenty <Speech_Male> percent. <Speech_Male> Here's the math. <SpeakerChange> <Speech_Male> The first year your <Speech_Male> fifteen thousand <Speech_Male> rises to sixteen <Speech_Male> <Advertisement> thousand three fifty <Speech_Male> <Advertisement> the second year. <Speech_Male> <Advertisement> Seventeen thousand <Speech_Male> <Advertisement> eight twenty two two <Speech_Male> <Advertisement> and the <Speech_Male> <Advertisement> third year falls <Speech_Male> to fourteen to <Speech_Male> fifty eight <Silence> now. Your loans do <Speech_Male> in reality. <Speech_Male> That's not how <Speech_Male> this would work <Speech_Male> alone. Requires you <Speech_Male> to make monthly payments commits. <Speech_Male> You're constantly <Speech_Male> selling <Speech_Male> investments investments. <Speech_Male> That need to be <Speech_Male> a taxable brokerage <Speech_Male> account. So <Speech_Male> you're also paying short <Speech_Male> term capital gains <Speech_Male> tax <Speech_Male> the way investors typically typically <Speech_Male> borrow money to <Speech_Male> invest is with margin. <Speech_Male> You apply <Speech_Male> for margin <Speech_Male> in your brokerage account <Speech_Male> borrowing money from <Speech_Male> your broker. <Speech_Male> Let me tell you a story about <Speech_Male> margin. <Speech_Male> There was this twentysomething thing <Speech_Male> investor who bought <Speech_Male> a small amount of <Speech_Male> this biotech stock <Silence> called Salaya. <Speech_Male> The stock <Speech_Male> started doing well so <Speech_Male> he continued buying <Speech_Male> more but this time <Speech_Male> using margin <Speech_Male> all of a sudden the stocks doc <Speech_Male> started falling <Speech_Male> from a high of two <Speech_Male> hundred seventy six dollars. <Speech_Male> He's thinking <Speech_Male> what idiots <Speech_Male> and uses margin <Speech_Male> to buy more <Speech_Male> shares. He <Speech_Male> can't believe it when it falls <Speech_Male> to one seventy he. <Speech_Male> He buys more <Speech_Male> <Advertisement> stunned <Speech_Male> as it falls to one fifty <Speech_Male> he buys even <Speech_Male> more and when <Speech_Male> it finally hits one <Speech_Male> thirty. He sells <Speech_Male> every other stock. <Speech_Male> He owns raising <Speech_Male> all the cash he can Dan <Speech_Male> and margins himself <Speech_Male> to the Gills. <Speech_Male> He's convinced <Speech_Male> the stock is going to rebound <Speech_Male> and when it does. <Speech_Male> He's going to make a massive <Speech_Male> prophet. <Speech_Male> It then falls to eighty <Speech_Male> five dollars <Speech_Male> at this point. His <Speech_Male> broker is forced <Speech_Male> to sell his entire <Speech_Male> position in order to cover <Silence> his margin debt. <Speech_Male> Yeah he's <Speech_Male> sixty thousand dollar <Speech_Male> brokerage account which <Speech_Male> took three years to <Speech_Male> build is wiped <Speech_Male> out in just two a <Speech_Male> week's worse <Speech_Male> he now owes his <Speech_Male> broker fifteen hundred <Speech_Male> dollars as <Speech_Male> for Sarah. <Speech_Male> <Advertisement> It was eventually acquired <Silence> <Advertisement> at eight dollars. <Speech_Male> <Advertisement> You <Speech_Male> see investing really <Speech_Male> has nothing to do with <Speech_Male> money. It's mostly <Speech_Male> about avoiding <Speech_Male> bad decisions. <Speech_Male> And I started using <Speech_Male> decision trees <Speech_Male> <Advertisement> to help with this <Speech_Male> <Advertisement> after all <Speech_Male> <Advertisement> I'm human and make <Speech_Male> <Advertisement> emotional and psychological <Speech_Male> <Advertisement> mistakes just just <Silence> <Advertisement> like everyone else. <Speech_Male> <Advertisement> Here's a personal <Speech_Male> example. <Speech_Male> I like keeping three <Speech_Male> to five years of <Speech_Male> living expenses in cash. <Speech_Male> Should <Speech_Male> that be sitting in cash <Speech_Male> in a money market <Speech_Male> fund or invested did. <Silence> What's the best decision <Speech_Male> <Speech_Male> decision number one <Speech_Male> cash? <Silence> Earning

"chris reining" Discussed on Optimal Finance Daily

Optimal Finance Daily

06:02 min | 10 months ago

"chris reining" Discussed on Optimal Finance Daily

"Rining of Chris? RINING DOT COM. And I'm Dan. I'm your host and welcome to optimal finance daily where I read to you from some of the very best personal finance blogs on the planet and before we get to our Wednesday post if you have a business or if you know someone who does you probably know that small business owners. Where a lot of hats now? Some of those hats are totally great but some like filing taxes and running payroll for example. Not so great. And that's where gusto comes in Gusto makes payroll taxes and HR actually easy for small businesses fast simple payroll processing benefits and simple management richmond. Tools all in one place Gusto automatically pays and files your federal state and local taxes. So you don't have to worry about it. Plus they make it easy to add on health benefits. Yes and even 401k's for your team who's old school clunky payroll providers just weren't built for the way modern small businesses work but Gusto is better. Forget now's the best time to get set up for the New Year so don't wait listeners. Get three months free when they run their first payroll so try a demo and see for yourself at Gusto Dot Com Slash O. F. D. that's G. U. S. T. O. DOT COM slash O.. F. D. for. Now let's get right to the post and start optimizing your life sir. I'm financially independent now. What by Chris Rining of Chris RINING DOT COM? Today's question comes. From David. He asks quote. I happened upon your site today and engaged in some Sunday morning. Binge reading very much enjoyed reading your articles and appreciate your efforts to help others and transform their lives in reading through the questions that have been posed to you. I noticed that most of the questions concern ways to save and invest of course amassing sufficient resources. Resources is a necessary. Step too early retirement but it doesn't address the harder at least me question of who wants to be nor of what one wants to accomplish in in retirement. I've been fortunate to have a successful career. As an attorney for the past sixteen years between a healthy income and a lifelong habit of saving. I can retire now at is still pretty. Youthful forty one. If I were to choose to do so while I enjoy the intellectual aspects of my job and the relationships that I have with many of my colleagues I find myself considering the same and thought that you mentioned that is there must be something more to life than doing this day. In and day out I would also enjoy reducing the stress and anxiety in my life that comes from my work. All of that said I'm not quite sure who I would be separate from my profession. My question for you is. What process did you go through to consider how you wanted to spend your life post employment point? I would imagine that it is a continuing process for you and others but I'm interested in how you approach the issue and quote like I always say early. Retirement has has nothing to do with doing nothing. It's about gaining control over your time. Time is your most valuable resource like mark. Cuban says quote. You can't buy it you can't find it you can't store it you can't trade it and quote and that's why people want to become financially independent. They realized that every day their life is getting shorter and wasting a single minute. Doing things they don't want to do is a waste of life. I was friends with an executive and he told me that he hated his job. And didn't WanNa keep doing what he was doing and then he said this. Is it it for me. Meaning he was going to keep doing what he hated for the rest of his life because he wasn't willing to give anything up which is typical for guys in their forties. They're working some high pay a high stress job thinking superficial things will make them happy measuring themselves against other people. I know because that's what I was doing. In my twenties I bought a BMW. A two hundred under thousand dollar CONDO and started flying smaller planes. If you never stop and think about any of this how you're living then you're destined to spend your life filling it with more stuff trying being to impress other people instead you can have a more meaningful life by filling it with stuff. That's important to you. That's the question you need to be asking yourself. What's important to me and if you ask people this question most of them will say things like freedom and flexibility great? But that doesn't mean anything you have to dig deeper so freedom becomes time and time turns into the question. What would I do with it? My answer one work on what. I'm passionate about to challenge myself. Alf continued to grow and three heaven impact on the greatest amount of people. Yeah pretty simple. And now whenever you're faced with some major life decision like quitting a fifteen eighteen year career. It's these little rules that help guide you. This is how to start optimizing your life for meaning and significance to stop measuring yourself against other people and start measuring yourself self against what's important to you. It's how to wake up. People would kill to be in your financial situation because people are always telling me that they want to be doing anything other than going to work. I mean seventy percent of workers hate their jobs. They're telling me if they were financially independent. They'd spend their time watching their kids. Grow up doing more meaningful work or taking a risk. Ask to try something new. The reason you haven't quit yet is because you're attached to work the nine to five routine the relationships with co workers your identity as an attorney. It's it's a dependency. Quitting means taking a big step from the known to the unknown. It means making yourself uncomfortable but you change and grow the most by making yourself. The the most uncomfortable and the best part of quitting is when people ask you what you do for a living. Someone asked me this the other day. Nothing really know like what do you do for work. This is always a hard question to answer because our ridiculous. Does it sound saying you retired in your thirties or forties. But it's true you no longer have to work for money. So I'm spending my time reading writing and thinking working out doing yoga meditating life slows way down and if you think having this level of freedom and control all over your time we'll make you happier or that. Your time is better. Spent some other way because you figure out what's important to you then quit. It'll be the greatest gift you ever gave yourself. And the worst I possible outcome is going back to doing what you were doing. Which people do all the time? But at least then you'll have figured out how to live a more meaningful life and created the space for that growth..

Gusto Chris Rining Gusto Dot attorney David BMW F. D. Cuban executive Alf G. U. S. T.
Chris Reining on Personal Finance Decisions & How to be Financially Free

Optimal Finance Daily

04:45 min | 10 months ago

Chris Reining on Personal Finance Decisions & How to be Financially Free

"Get right to the post and start optimizing your life sir. I'm financially independent now. What by Chris Rining of Chris RINING DOT COM? Today's question comes. From David. He asks quote. I happened upon your site today and engaged in some Sunday morning. Binge reading very much enjoyed reading your articles and appreciate your efforts to help others and transform their lives in reading through the questions that have been posed to you. I noticed that most of the questions concern ways to save and invest of course amassing sufficient resources. Resources is a necessary. Step too early retirement but it doesn't address the harder at least me question of who wants to be nor of what one wants to accomplish in in retirement. I've been fortunate to have a successful career. As an attorney for the past sixteen years between a healthy income and a lifelong habit of saving. I can retire now at is still pretty. Youthful forty one. If I were to choose to do so while I enjoy the intellectual aspects of my job and the relationships that I have with many of my colleagues I find myself considering the same and thought that you mentioned that is there must be something more to life than doing this day. In and day out I would also enjoy reducing the stress and anxiety in my life that comes from my work. All of that said I'm not quite sure who I would be separate from my profession. My question for you is. What process did you go through to consider how you wanted to spend your life post employment point? I would imagine that it is a continuing process for you and others but I'm interested in how you approach the issue and quote like I always say early. Retirement has has nothing to do with doing nothing. It's about gaining control over your time. Time is your most valuable resource like mark. Cuban says quote. You can't buy it you can't find it you can't store it you can't trade it and quote and that's why people want to become financially independent. They realized that every day their life is getting shorter and wasting a single minute. Doing things they don't want to do is a waste of life. I was friends with an executive and he told me that he hated his job. And didn't WanNa keep doing what he was doing and then he said this. Is it it for me. Meaning he was going to keep doing what he hated for the rest of his life because he wasn't willing to give anything up which is typical for guys in their forties. They're working some high pay a high stress job thinking superficial things will make them happy measuring themselves against other people. I know because that's what I was doing. In my twenties I bought a BMW. A two hundred under thousand dollar CONDO and started flying smaller planes. If you never stop and think about any of this how you're living then you're destined to spend your life filling it with more stuff trying being to impress other people instead you can have a more meaningful life by filling it with stuff. That's important to you. That's the question you need to be asking yourself. What's important to me and if you ask people this question most of them will say things like freedom and flexibility great? But that doesn't mean anything you have to dig deeper so freedom becomes time and time turns into the question. What would I do with it? My answer one work on what. I'm passionate about to challenge myself. Alf continued to grow and three heaven impact on the greatest amount of people. Yeah pretty simple. And now whenever you're faced with some major life decision like quitting a fifteen eighteen year career. It's these little rules that help guide you. This is how to start optimizing your life for meaning and significance to stop measuring yourself against other people and start measuring yourself self against what's important to you. It's how to wake up. People would kill to be in your financial situation because people are always telling me that they want to be doing anything other than going to work. I mean seventy percent of workers hate their jobs. They're telling me if they were financially independent. They'd spend their time watching their kids. Grow up doing more meaningful work or taking a risk. Ask to try something new. The reason you haven't quit yet is because you're attached to work the nine to five routine the relationships with co workers your identity as an attorney. It's it's a dependency. Quitting means taking a big step from the known to the unknown. It means making yourself uncomfortable but you change and grow the most by making yourself. The the most uncomfortable and the best part of quitting is when people ask you what you do for a living. Someone asked me this the other day. Nothing really know like what do you do for work. This is always a hard question to answer because our ridiculous. Does it sound saying you retired in your thirties or forties. But it's true you no longer have to work for money. So I'm spending my time reading writing and thinking working out doing yoga meditating life slows way down and if you think having this level of freedom and control all over your time we'll make you happier or that. Your time is better. Spent some other way because you figure out what's important to you then quit. It'll be the greatest gift you ever gave yourself. And the worst I possible outcome

Chris Rining Attorney David BMW Cuban Executive ALF Fifteen Eighteen Year Seventy Percent Thousand Dollar Sixteen Years
"chris reining" Discussed on Optimal Finance Daily

Optimal Finance Daily

02:31 min | 1 year ago

"chris reining" Discussed on Optimal Finance Daily

"F. D. that's F. U. N. D. R. I S. E. dot com slash o f t to have your first So I wanted to take an opportunity to cover the general idea of early retirement how do you feel about the job you've held for the past fifteen years the one you now loathe going do that doesn't challenge you anymore and may be soul-sucking or do you find it frustrating that every morning five days a week your inbox is full of emails asking you to do things you don't really want to do or presenting you with fee problems that have somehow become your responsibility to solve what if I told you that by making the choice yes it is a choice interests and hobbies and not be pigeonholed into one job forever to time to share and help others lead a richer fuller life by choosing minimalism and frugal `ISMs any reason to retire early and that's okay perhaps the truly love their job and find it fulfilling or perhaps conquering the corner office is the top priority in their life can I do it the answer to this question is that yes it is realistic some people have done it in their late twenties a few more have done it in their thirties and many have done it in their forties.

F. D. F. U. N. D. fifteen years five days
"chris reining" Discussed on Optimal Finance Daily

Optimal Finance Daily

02:05 min | 1 year ago

"chris reining" Discussed on Optimal Finance Daily

"And wanna turn it off granted. If you decide to work on acclimating your body to the heat you need to take care of yourself and drink plenty of water and replace electrolytes heights bhai consuming sports drinks or coconut water when you're inside with the air conditioning off get plenty of airflow between window and ceiling fans. This is important not ventilating and moving sedentary. Air is the reason why you read about old people turning up dead in their homes during heatwaves electrifying goals my my goal is to keep the electric bill under fifty dollars every month of the year which means i'll have work to do in june july august september which i plan to do by implementing rule number four. You just listened to the post titled turn the a._c. Off and acclimate your bloody self by chris rining of chris running dot com and today's episode was sponsored in part by iconic where you can shop name brand glasses contacts and sunglasses glasses for the best possible price iconic seamlessly connect your i wear your vision insurance coverage and your doctors expertise with their network of over thirty eight thousand. I'd doctors use their virtual. Try on tool to see yourself in your favorite pair of glasses. That's what our producers leeann justin both did. Justin said the pair that he got from iconic is now now his favourite pair of glasses he's ever owned and recommends trying it out. Enjoy the view and visit iconic dot com slash f._d. That's e y e c o n. I c. Dot com slash oh f._d. To shop sixty high quality name brands including nike ray-ban oakley and acuvue get free shipping and returns earns price matching and a complimentary frame adjustment plus save up to two hundred twenty dollars when you apply your insurance don't have insurance use the code oh f._d. To get ten mm percents off your entire order iconic is looking out for your eyes and that will do it for another edition of optimal finance daily. Hope you have a great rest of your day. Thanks thanks so much for being with me and being subscriber and i'll see you back here tomorrow where your optimal life awaits..

Justin chris rining two hundred twenty dollars fifty dollars ten mm
"chris reining" Discussed on Optimal Finance Daily

Optimal Finance Daily

02:09 min | 1 year ago

"chris reining" Discussed on Optimal Finance Daily

"My investments lose seventy thousand dollars in a month, which recently did happen. I recognize it's just part of the process of building wealth. How long does one million dollars last the right answer? Is it depends. The so-called experts. Make us believe that we need three million dollars before we can retire to draw a reasonable one hundred thirty thousand dollars a year. And that's a true statement. If you spend eleven thousand dollars a month when I plug my numbers into the retirement calculator, fire calc, yearly spending of thirty six thousand dollars, a one million dollar portfolio and fifty one years left to live based on the US government's death calculator. It tells me there's a ninety eight point nine percent chance. My one million dollars won't be depleted before I die. That means. I never have to work again. Even better there's a few key assumptions not in this calculation one. When my fifteen year mortgage is paid off my spending decreases to if I co -habitating my spending decreases three I'll probably make some money at some point during the next fifty one year. Years and for my social security benefits kick in at sixty five what I worry about our kids and their impact on spending. I think I could raise a kid for like eighty five thousand dollars. But what do I know because the USDA thinks it costs up to five hundred thousand I just don't know yet. But my best guess is that my finances would be okay, if I didn't work and had a kit or two what's the secret to becoming a millionaire? I didn't win the lottery I didn't inherit any money, and I didn't start a company if you're in the same situation, I am than the fastest way. To a million dollars is to earn more and spend less because those are the two levers you have control over I found that the best approach was to go. After the big wins. Not like these crazy people, quote, my mom had a boyfriend that would pull the stems off of cherries before purchasing them from the grocery store because he felt they way less without the stems, and he'd get more for the money, and quote, and this person, quote, a friend who used to work at a supermarket once told me about a customer who used to peel bananas before he bought them for the same reason. And quote instead of peeling bananas at the store to save twenty five cents that person could be getting rid of lifestyle creep earning more their job learning how to invest or starting side business..

USDA US one million dollars one hundred thirty thousand do eighty five thousand dollars thirty six thousand dollars seventy thousand dollars eleven thousand dollars three million dollars one million dollar fifty one years million dollars fifty one year fifteen year nine percent
"chris reining" Discussed on Optimal Finance Daily

Optimal Finance Daily

01:34 min | 2 years ago

"chris reining" Discussed on Optimal Finance Daily

"The potential to compound their earnings year after year patient shareholders, like myself have witnessed this firsthand. And let me tell you. It's pretty cool. There's been rough patches times I've seen my portfolio take huge hits. And there's a chart in this post to prove it, but I maintain my bullishness on stock investing over the long term has you'll see if you take a look at the chart, even though I've had some of my businesses go through tough times. My portfolio is always trending up. Not all of my stocks will crush the S and P five hundred the benchmark I use. But I think the majority will to diversification as you know, it is not good. I believe in diversification. But I believe in it across time various economic conditions and by buying shares. At better, multiples, I mainly invest in tech and restaurant and retail stocks because they are easy to understand for me as I studied them over time. I become more familiar with them. I can see what factors affect their share price. And what factors affect their earnings why they're guidance changes. How? How many stores they are going to be able to build to know where they are in their growth cycle, you begin to see patterns with his knowledge. I am able to explore the short term traders selling on the news or after a week quarter. I am a long term investor. So I don't look short term. I take the long view, and that means five years to a decade. A new investor may think that diversifying across industries will protect them from ignorance, and that's a great point, for example, if the retail sector falters because of high oil prices by being invested in the energy sector it will act as a counterbalance. High oil prices means energy stocks will be higher..

five years
"chris reining" Discussed on Optimal Living Daily

Optimal Living Daily

02:01 min | 2 years ago

"chris reining" Discussed on Optimal Living Daily

"Someone recently asked me what piece of advice i'd give my 22yearold self first i tell them to wear clothes that fit and second attempt to get a mentor not having a mentor was my biggest career mistake you see throughout my 20s i thought i'd get promoted and earn more money if i just worked harder than everyone else and a held onto that believe even as i watched other people less skilled the me keep advancing eventually i discovered that there was a game being played all around me now house are supposed to know about this game and how to play it when no one ever talks about it that's where a mentor comes in so i got two of them and it was a game changer the taught me how to navigate the tricky ruled of office politics and they told me exactly where to focus my energy i did everything they said opportunities started opening up for me and my career took off here's what i learned a good mentor or do for you mentors provide brutally honest feedback mentors pushed you out of your comfort zone mentors hold you accountable and mentors know what works and what doesn't don't make the same mistake i did trained to do everything on your own because you can't instead get a mentor and get ahead according to the new yorker when new jersey governor chris christie was fourteen he heard george keen a member of the new jersey state legislature speak at his junior high school where christie came home he told his mother he wanted to be a politician so she drove him over to qian's house and made him knock on the door sir i heard you speak i think i want to get into politics how do i do it i'm going up to speak in bergen county tonight why don't you come with me and see if you like it that single road trip led to keane becoming christie's mentor christie started working on qian's gubernatorial campaigns and in return.

new yorker chris christie george bergen county new jersey qian keane
"chris reining" Discussed on Optimal Finance Daily

Optimal Finance Daily

01:44 min | 2 years ago

"chris reining" Discussed on Optimal Finance Daily

"She spent most of the time in line bashing the airlines their inept workers in the amount of time they were forcing her to waste when she reached the desk she berated the guy who was helping her he got fed up with their in meter go to the back of the line did she realized that having the ability to actually fly through the air is amazing think about it you're sitting in a chair in the sky and travelling at five hundred fifty miles per hour new york to san francisco in less than six hours in late 1800s it used to take people eighty three hours on a trained to do that and they had to sit on a hard wooden bench i like to jot down on paper a few everyday things i'm grateful for that my greatgrandparents couldn't afford or couldn't even imagine like flying across the ocean the internet were smartphones three consume less the first world loves to consume but just as we should practise information dieting we should also practice the art of consuming less maybe a good time to start is next month when americans will shop over thanksgiving weekend last year the damage from black friday to cyber monday topped fifty seven billion dollars there's no getting around the fact that we live in a period when conspicuous consumption is normal victor lebow an economist brilliantly called this out in an article from nineteen 55 quote are enormously productive economy demands that we make consumption our way of life the we convert the buying and use of goods into rituals that we seek our spiritual satisfaction or ego satisfaction in consumption we need things consumed burned up replaced and discarded an ever accelerating rate and quote but living a disposable lifestyle doesn't make us any happier finding happiness comes from within it's not something that can be purchased from amazon one.

new york san francisco internet black friday fly through thanksgiving cyber monday amazon fifty seven billion dollars eighty three hours six hours
"chris reining" Discussed on Optimal Finance Daily

Optimal Finance Daily

01:59 min | 3 years ago

"chris reining" Discussed on Optimal Finance Daily

"Day to cut your phone bill costs the average american spends a thousand dollars a year on their cell phone bill and you can probably cut that in half i'm spending a hundred dollars these days there's tools like whistle out that compare rates across carriers based on your monthly usage pattern arm yourself with this information and then decide if you want to negotiate a low rate were switch carriers negotiating a lower rate is easy because what you're going to do is call your provider and ask what better plans they have tell them you're plan is getting expensive and you're noticing you can save x amount if you switch to this other carrier if they don't offer you a cheaper plan as to be transferred to the cancellation department because the retention department is empowered to give you the best plants ask them what can you do to give me a better plan is you're happy with what the offer you then take it but remember with any negotiation the strongest position is being willing to walk away and mean it if you're serious about switching carriers you'll be able to tease out the best plan money saved four hundred eighty dollars a year day three audit and canceled subscriptions if you've been reading the site you know i advocate automating and optimizing your life because when you automate and optimize your life you free up valuable resources like time and money subscription services are great tools to accomplish this but it's easy to find yourself subscribe to a handful of services you're not getting value from anymore or you're just flat out not using i quit the gym for instance to work out on my own so here's how to ferret out subscriptions to trim first check the last three months of your credit card and bank account statements you're looking for any and all subscriptions things like jim memberships like planet fitness credit reporting like experience and trans union airplane wi fi like gogo air audio book services like audible and the subscription boxes then simply contact the company and cancel individually these typically don't cost much but an aggregate you're going to save five hundred and twelve dollars a year money saved five hundred dollars a year.

bank account jim four hundred eighty dollars five hundred dollars thousand dollars hundred dollars twelve dollars three months