27 May Working ON Your business vs. IN your business | Justin Donald Investment Talk
In this episode of “Y.E.L. 2.0”, your host Peter Voogd, serial Entrepreneur, Mentor, Speaker, Best-selling Author, Husband and Father talks to Justin Donald, author of book “The Lifestyle Investor”, where he shares the secrets that empowered him to multiply his net worth to over eight figures in less than two years. He focuses on showing entrepreneurs how to think and invest to limit risk and maximize returns through his proven passive income cash flow strategies.
- Peter says if you only execute with no thinking that’s going to be a rough life and he also says that he doesn’t think people understand the importance of staying harmonised in life.
- Justin states that he just can’t emphasise enough the importance of building in that time, where you can really plan and think for yourself.
- Peter asks Justin that how much time he took to write the book.
- According to Justin, his book is full of life stories one of which includes when he lost a lot of money.
- Peter asks Justin about the top most common myths that people hear that are out in the marketplace.
- “I found out that I had lost money, how is that possible? How did I lose money?” asks Justin.
- Justin advises to put your money in an index fund, which is the lowest cost way to invest.
Three Key Points
- As per Justin, his experience with the conventional way of investing made him question the way that everyone does things and what he learnt was that whatever the majority of people do, you don’t want to do that because the majority of people haven’t yet figured it out as they’re like sheep.
- Justin suggests that you don’t have to like accounting to be good at investing; also you don’t have to even be good at accounting, because you can just hire really good people.
- An average rate of return is not an actual rate of return and so an average rate of return of 10% could mean that you have lost money. It depends on what the actual rate of return is.
One of the first outside conversations we had was just how to structure your business tax wise and I remember half our conversation Click To Tweet
It was about 15 years ago that I really got into alternative investments, and that was a game changer for me. Click To Tweet
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