For entrepreneurs and business owners, building wealth is often closely tied to the success of their business. However, it’s important to diversify investments and build wealth outside of the business to ensure long-term financial stability.
The thing is, investing can be a highly rewarding way to grow your wealth over time, but it also comes with inherent risks. Without proper knowledge and planning, investing can be a high-risk endeavour that leads to financial loss.
In this episode, I share my take-aways from episode 60 where I interviewed Terry Tran on building wealth through investing. Building wealth outside your business can seem daunting, but as Terry emphasised, it’s a crucial step towards long-term financial security.
Whether you’re an entrepreneur, business owner, or simply looking to grow your wealth, the lessons shared in this episode apply to anyone looking to make informed investment decisions and create a diversified portfolio.
IN THIS EPISODE, YOU’LL FIND OUT…
- Investing is high-risk – how to go about it? (01:31)
- The importance of learning how to analyse a stock (03:07)
- Aiming for 15 to 25% returns per annum from your shares (04:12)
- Fractional ownership: is it a good or bad thing? (05:28)
- Focusing on percentages rather than dollar amounts (06:39)
- How to build wealth outside of your business (08:21)
QUOTES
“Your business is already high risk; don’t go taking crazy risks in your investing.” -Carl Taylor
“Learning to analyze a stock will upskill your ability to analyze your business health.” -Carl Taylor
RESOURCES
WHERE YOU CAN FIND CARL TAYLOR
Automation Agency
CarlTaylor.com.au
LinkedIn
Facebook
Twitter
Like this episode? Have topics that you would like us to discuss? We’d love to hear your feedback and comments. Let us know by leaving a comment below.