My Worst Investment Ever Podcast

BIO: Toni McLelland MSc resides in London, England, UK, and spends time in Wales. She is a critical friend, business mentor, and founder of The Compassionate Business Model.STORY: Toni hired someone on social media she thought would help her in an area she was interested in. The individual was an influencer and not an expert in the area.LEARNING: Do your homework and due diligence. Excellent professionals should have no problem providing you with recommendations. “Watch for commitment and consistency from professional service providers.”Toni McLelland Guest profileToni McLelland MSc resides in London, England, UK, and spends time in Wales. She is a critical friend, business mentor, and founder of The Compassionate Business Model.Toni is an inspirational people leader who is passionate about navigating C Suite and board members through the world of business, crisis, and change management in her work around organizational culture.Specializing in Social Impact, Social Justice, and Social Mobility business, she works with leading established organizations and brings the learning back to start-ups serving vulnerable groups.A previous Central Government employee, she brings a wealth of experience. She is adept at contingency, regulation safeguarding, and compliance in business while showing business leaders how to be compassionate and profitable.Toni holds weekly LinkedIn live shows - Mondays at 1.30 pm BST, Audio rooms -Wednesdays at 6.30 pm BST & Fridays at 1.30 pm BST.Lastly, she sprinkles around her own much-needed #TonisFairyDust. Get her Complimentary consultation book here.Worst investment everToni was on a social media platform and had been watching this person for a very long time. They had a vast following and a lot of engagement. Toni thought that they knew what they were talking about.She needed some help in that area, so she reached out to the person and invested in her services. Toni was sure that she would get specialist help. In reality, she found herself working with an influencer who had no expertise in the industry she worked in.Lessons learnedDo your homework and due diligence.When engaging someone online for professional help, ensure that they understand what you need and not just spend their time as an influencer.Always get a recommendation and check out testimonials about the professional whose services you’re interested in hiring to confirm there are any guarantees with what they’re saying they’re capable of delivering.Andrew’s takeawaysExcellent professionals should have no problem providing you with recommendations.Actionable adviceListen to that inner voice telling you something’s not right.No.1 goal for the next 12 monthsToni’s goal for the next 12 months is to touch as many people as possible with her learning.Parting words “When you stop learning, you stop growing.”Toni McLelland [spp-transcript] Connect with Toni McLellandLinkedInFacebookTwitterYouTubeWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Michelle Hon is the author of The Chill Mom, founder, and business coach for moms at MomBoss Academy.STORY: Michelle spent half of her life savings on a soup and salad bar that she had to close down after a month due to the wrong location.LEARNING: Don’t build a business for yourself or boost your ego. Build a business because it fills a market gap. Build systems and frameworks that enable you to implement and replicate your business ideas. “Swallow that humble pie and ask for help from experts.”Michelle Hon Guest profileMichelle Hon is the author of The Chill Mom, founder, and business coach for moms at MomBoss Academy.She was named by Zine as one of the “Top 10 Mommy Influencers in the World,” and she’s been featured regularly on Channel News Asia, The Asian Entrepreneurs, Lifetime Asia, Asian Money Guide, SmartParents, and many other publications.Worst investment everIn 2010, Michelle decided to open a soup and salad bar after working in employment since age 16. She spent almost a year researching and coming up with a thick business plan. She got a space, renovated it, formulated the recipe, and was ready to open the doors.Within the first month of business, she knew the company would not work because it was in the wrong location.Lessons learnedDon’t build a business for yourself or just to boost your ego. Build a business because it fills a market gap.Get advice from someone in the same business space.Borrow from systems and frameworks that successful people or businesses are using instead of trying to build new ones.Andrew’s takeawaysBuild systems and frameworks that enable you to implement and replicate your business ideas.Don’t get so excited about your idea and forget to focus on how to implement it.Actionable adviceSlow down and find people who have done this before and ask them about their systems and the critical things that have gotten them to where they are today.No.1 goal for the next 12 monthsMichelle’s goal for the next 12 months is to take her family on holiday.Parting words “Just go for it. We have this one sweet life. Whatever you want to do, just go for it. You never know where it will take you.”Michelle Hon [spp-transcript] Connect with Michelle HonLinkedInInstagramTwitterPodcastWebsiteBookAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Leonard Kim is the worst investor you will ever meet and has made countless mistakes.STORY: Leonard invested over $6,000 in penny stocks and preferred shares whose value went to less than a penny.LEARNING: Avoid stocks on the OTCBB; trade in the NASDAQ shares instead. Focus on the company’s ability to make profits instead of the stock price. “Don’t invest in stocks that are at the sub-penny level.”Leonard Kim Guest profileLeonard Kim is the worst investor you will ever meet. He’s made countless mistakes like investing in stocks on the Pink Sheets, OTC Bulletin Board (OTCBB), and companies bound for bankruptcy like MoviePass. He’s bought preferred shares from public companies that have gone bust and invested in private companies that have failed.On the contrary, he’s an extraordinary marketer who has won countless awards and been recognized as a top marketer by Forbes, Brand 24, MadCon, and more.He’s also done an internationally recognized TEDx Talk and is the author of Ditch the Act, a book on personal branding and humanizing your company with McGraw Hill business.Worst investment everLeonard put money in a penny stock that he thought had the potential to go up, and it did. It hit $7, but it quickly went down to 50 cents, so Leonard lost his money.Leonard also invested $6,000 in a company whose stock was listed in the OTCBB and sold for around 50 cents. The company sold series B preferred shares with a one-year hold where you couldn’t sell them. After a year, the stock was trading at less than a penny, and it’s still at that value to date.Lessons learnedAvoid stocks on the OTCBB; trade in the NASDAQ shares instead.Don’t invest in stocks that are at the sub-penny level.Handle your investments by yourself.Invest in stable investments like oil.Andrew’s takeawaysFocus on the company’s ability to make profits instead of the stock price.Avoid investing with friends.Actionable adviceBuild a conservative investment profile and figure out how to invest more.No.1 goal for the next 12 monthsLeonard’s goal for the next 12 months is to continue creating value through his content.Parting words “The secret to marketing yourself is to differentiate yourself.”Leonard Kim [spp-transcript] Connect with Leonard KimLinkedInInstagramTwitterPodcastBookAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Vanessa Ho built a student-alumni-run angel investment network and educates students and fresh graduates on startup and private sector investments.STORY: Vanessa invested blindly in a startup she was introduced to by an angel investor. She never did any research. There was no market for the company’s product, so it never made any returns.LEARNING:  Dig deep into the business model and ensure the startup has a product that the market needs. Don’t invest in a company just because it’s popular and others do it. “Learn the fundamentals of angel investing.”Vanessa Ho Guest profileVanessa Ho built a student-alumni-run angel investment network and educates students and fresh graduates on startup and private sector investments.Formerly she was a venture capital analyst and a social media content creator and host. Currently, she is in a socialfi startup called So-Col doing business development and marketing.Worst investment everAn angel investor introduced Vanessa to a company dealing with paywalls for media outlets. The company looked good on paper, and Vanessa trusted the angel investor, so she didn’t do a lot of due diligence. She simply put money into the company blindly. She didn’t even read the investment contract.Three months later, the company hadn’t made any progress, and the owners were getting worried about sustainability. Vanessa kept checking the news, and many months later, she realized that the company wasn’t going anywhere. She decided to write it off.Lessons learnedDon’t be swayed by big founder names and glamorous titles. Dig deep into the business model and ensure the startup has a product that the market needs.Do your due diligence even if other angel investors are backing up the startup you want to invest in.Andrew’s takeawaysDon’t invest in a company just because it’s popular and others do it.Don’t invest in a startup if you don’t have enough money to risk or if you’re new to investing.Weigh your risk before you invest in a startup.Invest in 10 startups, never in just one.Actionable adviceLearn the fundamentals of angel investing before putting your money into it.No.1 goal for the next 12 monthsVanessa’s goal for the next 12 months is to build a syndicated fund to bring value to private sector investing. [spp-transcript] Connect with Vanessa HoLinkedInWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Jitender Girdhar is a best-selling author, TEDx speaker, entrepreneur, Op-Ed writer at The Times of India, mentor, and NLP professional.STORY: Jitender’s worst investment ever was not investing in growing his mind when he was younger. This saw him make poor investments.LEARNING: Your beliefs and opinions become your identity. Leave past knowledge and beliefs behind and be curious to learn new things. “The action everybody needs to take is to question their strong belief. Questioning is the beginning of intelligence.”Jitender Girdhar Guest profileJitender Girdhar is a best-selling author, TEDx speaker, entrepreneur, Op-Ed writer at The Times of India, mentor, and NLP professional.He is best known for his articles on Mind & Body, Human Behavior, and Cricket, and for his thought-provoking book Think EPIC, which became a #1 international bestseller in just a few months and got success in various countries.His contributions to multiple disciplines broadly address the narratives of human behavior.He has a great following on LinkedIn and is an ardent reader and a sports fanatic.Worst investment everJitender’s worst investment ever was not working on growing his mind after completing his education. Instead, he spent all his energies working to rise through the ranks. He ended up making wrong investments and lost money by ignoring his mind. He wishes he had spent more energy when he was younger to improve his mind.Lessons learnedStop living a mechanical life. You won’t get much out of it.To create something new and see things from a fresh perspective, you need to leave past knowledge and memory behind.Your beliefs and opinions become your identity.Andrew’s takeawaysStart safe, then start thinking freely as you grow older.Actionable adviceQuestion opinions and beliefs, and be curious.No.1 goal for the next 12 monthsJitender’s goal for the next 12 months is to keep learning and sharing.Parting words “Stay hungry for learning. Stay foolish, and when somebody says something against your opinion, you won’t get hurt.”Jitender Girdhar [spp-transcript] Connect with Jitender GirdharLinkedInTwitterFacebookInstagramWebsiteBookAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Anthony Milewski is an investing veteran and Chairman of Nickel 28 – a battery metals-focused investment company focusing on metal streaming and royalty agreements.STORY: Anthony and a friend partnered to drill oil in Indonesia. They pooled $10 million and hit the ground running. After facing one disaster after another, the partners gave up on the venture, having spent all the money, and not a single well was dug.LEARNING: Understand the context of the foreign country you’re investing in—research both the expected return and expected risk. “Why are you investing? Do you need to do this? What’s the alternative?”Anthony Milewski Guest profileAnthony Milewski is an investing veteran and Chairman of Nickel 28 – a battery metals-focused investment company with a focus on metal streaming and royalty agreements. The company trades on the Toronto stock exchange.Anthony has been active in the battery metals industry, including investing in cobalt and actively trading physical cobalt. Previously, he was a member of the investment team at Pala Investments Limited, a leading venture capital firm.Worst investment everA former partner and friend in Australia shared an idea with Anthony about these oil drilling blocks coming up for auction in Indonesia. Anthony figured it was a good idea, and so the two partnered and raised roughly $10 million. They were awarded a block.The two partners thought they were to drill a couple of wells and become oilmen. It never happened.They faced one disaster after another, from corruption locally to landowners fighting them to the inability to mobilize because they were being held to ransom by locals. Ultimately, they spent all the money they had raised but never drilled a well.The partners’ undoing was their naivety to how complicated it would be to do an oil and gas deal with local landowners without a strong local partner.Lessons learnedUnderstand the context of the foreign country you’re investing in.If a return feels out of whack, even if experts are right, always make sure that you understand the risk.When you see a return that looks like an outsize return, ask why? Then identify what the why is because that is the risk.Andrew’s takeawaysSplit your research between the expected return and expected risk.Reducing risk reduces the expected return.Understand your investment environment.Actionable adviceBe thoughtful when investing in places where you don’t know anything about. Work with a management team that has an edge in that place. And if you don’t trust that investment, buy something else.No.1 goal for the next 12 monthsAnthony’s goal for the next 12 months is to do a triathlon. [spp-transcript] Connect with Anthony MilewskiLinkedInTwitterWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: John Spence is an author, international executive coach, professional development educator, virtual trainer, strategic planning facilitator, keynote speaker, and developer of online learning programs.STORY: When John was a young CEO of one of the Rockefeller Foundations, he invested in the trappings of a CEO, such as big houses, boats, wines, artwork, etc., all in the name of impressing people. All these things were lost in days when Hurricane Andrew hit Miami.LEARNING: Don’t let material things define you. The ultimate freedom is the freedom of mind. The accumulation of things is uncorrelated to happiness. “Be grateful for everything you have now.”John Spence Guest profileJohn Spence is an author, international executive coach, professional development educator, virtual trainer, strategic planning facilitator, keynote speaker, and developer of online learning programs.John is recognized as one of the top business thought leaders and leadership development experts in the world and was named by the American Management Association as one of America’s Top 50 Leaders to Watch, along with Sergey Brin and Larry Page of Google and Jeff Bezos of Amazon.As a consultant and coach to organizations worldwide, from startups to the Fortune 10, John is dedicated to helping people and businesses be more successful by “Making the Very Complex… Awesomely Simple.”Worst investment everJohn became the CEO of one of the Rockefeller Foundations when he was 26 years old. This saw him earn a significant salary. John decided to use his earnings to invest in houses, boats, artwork, wine collections, and everything else that were the trappings of being the CEO of a multinational company. At a young age, John thought that those were the things that would impress other people.In 1989, Hurricane Andrew hit Miami and destroyed everything John owned. In just a matter of days, all his properties and belongings were gone. John had invested so much time, energy, effort, and ego in all that stuff, and it was all taken away in one day.Lessons learnedEven when you suffer a significant loss, stay focused on your values and remember that others have been through worse.Material things are lovely, but they don’t define you.You’re stronger than you think you are.Be grateful for everything you have now.Andrew’s takeawaysThe ultimate freedom is the freedom of mind—the freedom to think and detach.The accumulation of things is uncorrelated to happiness.Actionable adviceLook at the things that are truly important and valuable in your life.No.1 goal for the next 12 monthsJohn’s goal for the next 12 months is to learn more and meet more people.Parting words “Just live by your values, treat other people with love and have fun.”John Spence [spp-transcript] Connect with John SpenceLinkedInTwitterFacebookInstagramYouTubeWebsiteBooksAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Brian Golod was born and raised in Buenos Aires, Argentina. His parents asked him what he wanted to do for a living when he was 13 years old, and somehow he knew, at least for the following 21 years.STORY: Brian invested $25,000 in a new company belonging to a man he’d known for just a few days.LEARNING: Don’t trust blindly; ask questions. Be careful of the appeal to authority fallacy. “Pace yourself. There’s nothing like an overnight success.”Brian Golod Guest profileBrian Golod was born and raised in Buenos Aires, Argentina. His parents asked him what he wanted to do for a living when he was 13 years old, and somehow he knew... at least for the following 21 years.He studied Computer Science at the number one middle and high school in Argentina and got an early start. Before turning 20 years old, his family immigrated to Canada. After working for the Government of Canada twice, tech multinationals, startups, and everything in between, he realized he was able to help professionals get back on their feet and advance in their careers. He started doing this on the side for free, just trying to give back to society, and eventually realized he couldn’t live the rest of his life without pursuing his purpose, what he was born for. He says it’s impossible to describe how he feels every time someone gets the job they want with his help.Worst investment everBrian was working as a production support developer for a multinational in Toronto when he was introduced to a family. He was invited to their place for dinner and got to know the family. There was immediate trust, especially because of the person who introduced him to the family. Brian learned that the man of the family wanted to branch out of where he was working as CFO and start something very similar to what he was doing.The man mentioned this to Brian, and because of his title, his responsibility at the organization where he was working, and the size of that organization, Brian believed the man must know what he was doing. Brian told him that he’d be the first one to support him right off the bat. He invested $25,000 in the man’s business. Additionally, Brian was convinced to quit his job and join the new company full time.The mistake the man made was buying a lot of inventory and having no clients. So all the money that he had raised, not just from Brian but from many others, about $300,000, went to inventory, yet there was no cash flow. The product just sat in a container in one of those storage rooms.The duo couldn’t sell for different reasons, so the company tanked.Lessons learnedDon’t trust blindly. If you’re going to put money towards something, ask a billion questions.Just because someone has the title and has been doing this somewhere else doesn’t mean that they actually know how to do it all from scratch.Don’t be greedy or invest more than you can afford to lose.Communication is very important. Communicate with the people that you work with and with your suppliers.Make sure that everything is written, especially when working with suppliers.Pace yourself. There’s nothing like an overnight success.Andrew’s takeawaysTrust takes timeBe careful of the appeal to authority fallacy.The first job of a business is to try to get the cash flowing.Preserve relationships.Actionable advicePause and listen to someone else’s perspective. If you have a significant other or someone you trust who has your best interests at heart, and can potentially be affected by your decision, seek their full support.No.1 goal for the next 12 monthsBrian’s goal for the next 12 months is to scale his service to serve as many people as possible, build partnerships and reach every professional who needs this solution.Parting words “If you’re not feeling excited, you’re not jumping out of bed to do what you do. Please don’t settle for less. We’re given this one life. Just make the most out of it.”Brian Golod [spp-transcript] Connect with Brian GolodLinkedInFacebookInstagramTwitterAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: 15 years of experience running his own business, more than enough money, time, and freedom; now Nat Berman teaches the practical steps he’s taken to achieve these results in what now takes only 3-4 hours a day.STORY: Nat got wind of a stock that Jim Cramer would tout on his show and invest in. Nat decided to invest $30,000 in the stock without further research. He lost the money in a short period.LEARNING: Do your research. Never buy a stock that somebody tells you about. “Pause. Read. Invest.”Nat Berman Guest profileAfter fifteen years of experience running his own business, more than enough money, time, and freedom, now Nat Berman teaches the practical steps he’s taken to achieve these results in what now takes only 3-4 hours a day.Worst investment everNat knew a guy that worked for Jim Cramer directly. He got wind of the stock that Cramer was going to tout on his show and would put in his charitable trust. Nat put in $30,000. He lost a lot of it in a short amount of time.Lessons learnedDo your own research, assess your risk, and understand what you’re comfortable losing.Everybody is smart enough to make their own investments.Andrew’s takeawaysInvest in the S&P 500 or an index fund if you’re learning how to invest.Never, ever buy a stock that somebody tells you about. Make your decision that this is the stock that you want to own for a particular reason.Build a portfolio of about 10 stocks to diversify your risk.Actionable adviceWhenever someone tells you about an amazing stock, pause, read about it, and see what kind of news there is about it. Check out the financials too. Just don’t do anything for at least 24 hours to a week.No.1 goal for the next 12 monthsNat’s goal for the next 12 months is to be proud of himself and be able to look into the mirror every day and know that he’s satisfied and comfortable with where he is.Parting words “Stay focused.”Nat Berman [spp-transcript] Connect with Nat BermanLinkedInFacebookInstagramTikTokYouTubeWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast

BIO: Dave Buck is fascinated by the concept of time and how it is applied in everyday life. It is one of the main reasons he started Kairos Management Solutions.STORY: Dave was a very disciplined saver and investor from the time he got his first job when he was 16. The only mistake he made was not managing his portfolio according to the lifestyle he wanted to live in retirement.LEARNING: Start to save for the future today. Have goals for your savings. “Manage your portfolio to match the desired lifestyle you want to have.”Dave Buck Guest profileDave Buck is fascinated by the concept of time and how it is applied in everyday life. It is one of the main reasons he started Kairos Management Solutions. Kairos is one of the Greek words for time, tied to accomplishing a crucial action or performing in a decisive moment. Through his company, Dave offers a variety of services from individual and corporate time management, leadership management, retirement and lifestyle time management, and sales productivity enhancement. The corporate mission of Kairos Management Solutions and Dave is to help people move their time from finite to infinite.Worst investment everDave got his first job when he was 16, and from then, he started to save diligently until he was in his 50s. When he approached retirement age, he realized that he didn’t know what he wanted to do with the funds he’d been saving for years. He had not aligned his investments with the retirement lifestyle he wanted, and now he wasn’t sure if the funds were even enough to lead the life he wanted.Lessons learnedStart to save for the future today.Adopt a broader strategy of the purpose of the funds you’re saving and how that purpose aligns with your lifestyle.Start by saving a small amount, even if it’s just 5% of your income, and be consistent.Andrew’s takeawaysHave goals for your savings. Are you saving for the sake of saving?What is the purpose of the funds you save?Be frugal, be careful with your money, but stay focused on saving it.Actionable adviceGet started with saving, be disciplined and keep at it. It’s okay to pause due to various factors. Just don’t stop forever. Your portfolio can grow if you’re not contributing to it but get back to contributing for as long as you possibly can.No.1 goal for the next 12 monthsDave’s goal for the next 12 months is to implement his initial business strategy to such a point that he doesn’t have to draw on his current savings plan.Parting words “As you plan projects, invest your time as you look to how you manage it. Take what you do and add 20% to it. It’s always going to take longer than what you anticipate.”Dave Buck [spp-transcript] Connect with Dave BuckLinkedInYouTubeWebsiteAndrew’s booksHow to Start Building Your Wealth Investing in the Stock MarketMy Worst Investment Ever9 Valuation Mistakes and How to Avoid ThemTransform Your Business with Dr.Deming’s 14 PointsAndrew’s online programsValuation Master ClassHow to Start Building Your Wealth Investing in the Stock MarketFinance Made Ridiculously SimpleBecome a Great Presenter and Increase Your InfluenceTransform Your Business with Dr. Deming’s 14 PointsConnect with Andrew Stotz:astotz.comLinkedInFacebookInstagramTwitterYouTubeMy Worst Investment Ever Podcast