Ep449: Jacob Roig – You Can’t Neglect Your Way Out of Problems
BIO: Jacob Roig specializes in helping coaches and the entrepreneur create the steps and strategies to growing or scaling their business, so they can quickly double their incomes, increase profits and figure out how to grow into their ideal lifestyle with a great team, more time off and a workable plan to get there.
STORY: Jacob sold his business and invested in single-family homes. This turned out well for him, but he got convinced to invest in apartment buildings at some point. Jacob didn’t have the time to manage the apartments, and so when the 2008 real estate crash happened, he lost everything, including his over $2 million net worth, and had to file for bankruptcy.
LEARNING: Own up to your challenges and seek the help that you need. You don’t need to have a solution; you just need to be willing to try to get back on your feet.
Ep448: Axel Meierhoefer – Never Get Involved in Anything You Don’t Understand
BIO: Axel Meierhoefer was born in Germany, served 22 years as an air force aviator and instructor. In 2005, he started his consulting company then discovered real estate investing during the recession.
STORY: Axel blindly invested in penny stocks in the late 90s. He knew nothing about penny stocks at the time, and he ended up losing $75,000 after the market fell suddenly.
LEARNING: Never get involved in anything that you don’t understand. Understand how company P/E ratios work and how they affect a stock.
Ep447: Andre Hsu – Trust Your Partner before Investing in Their Idea
BIO: Andre Hsu is a thinker and business strategist based in Singapore. He is the author of three books about qualities, mindsets, and frameworks relevant to business, which he observed in several business tycoons who left a deep and lasting impact on his life.
STORY: Andre partnered with a software company with an excellent business idea, but the partners were poor in managing the company and selling the product, so it failed. Andre lost his entire investment.
LEARNING: Research the people who own a business as much as you research the business.
Ep446: Manish Kumar Tyagi – Never Blindly Trust Anybody with Your Money
BIO: Manish Kumar Tyagi used to be a Commander in the Indian Navy before he decided to become a standup comic sometime in 2014 and goes by the name “The Knotty Commander.”
STORY: Manish relied upon his investment agent to invest his money. The agent invested in several options that lost him money over and over.
LEARNING: Don’t blindly trust anybody with your money. Don’t rely on one investment agent.
Ep445: Johnny Widodo – Everything Great in Life Follows a Process
BIO: Johnny Widodo is CEO in an automotive startup space with over 16 years of experience across multiple industries and geographies.
STORY: Johnny saw a colleague who was making crazy money trading stocks daily. Johnny decided to do what his colleague was doing and ended up losing about $30,000.
LEARNING: Learn and do your research to understand the investment first before you sign off on it. The game of investing is about how much you have at the end of the game.
Ep444: Randy Mortensen – Past Success Doesn’t Guarantee Future Success
BIO: Randy Mortensen guides talented individuals whose drive has led them toward destructive behaviors. He facilitates an 8-week cohort, guiding members toward True Significance: Success and Sustainable Living.
STORY: Randy was looking for an investment that would bring him huge returns to support his projects in the Caribbean and Africa. He came across the hemp industry, which he had zero experience in, but he was convinced it was the right investment. Randy invested $600,000 and is yet to make much out of it.
LEARNING: Don’t be too quick to jump into an investment you’re not familiar with. Succeeding in one investment doesn’t mean you will in another.
Ep443: Gil Baumgarten – Concentrate to Get Wealth but Diversify to Keep It
BIO: Gil Baumgarten is a 36-year veteran of the investment industry. In 2010, Gil made a break from the brokerage world to start Segment, a fully fiduciary firm where the interests of the client and the firm could align.
STORY: Gil invested heavily in UBS shares, and when the 2008 financial crisis hit, the stock lost its value and knocked about 80% of the market value of his stocks.
LEARNING: Concentration is the key to getting wealthy. Diversification is the key to keeping your wealth. Don’t be too diversified or overly concentrated.
Ep442: Meridith Elliott Powell – Do What Is Right for You Not What Society Wants You to Do
BIO: Meridith Elliott Powell is passionate about helping her clients learn the strategies to turn uncertainty into a competitive advantage.
STORY: Meredith met her husband at 21, and they got married soon after. She spent close to 17 years trying to save her husband from countless brushes with death, arrests, and bankruptcies.
LEARNING: Have the courage to do what is right for you, not what you think society wants you to do. You can’t fix things you can’t control.
Ep441: Furqan Aziz – Validate Every Idea You Invest Time In
BIO: Furqan Aziz is the CEO of InvoZone, a software development company that specializes in resource augmentation.
STORY: Furqan took on a client who promised to pay him in the form of shares to develop what seemed like an excellent product for airlines. Unfortunately, COVID hit, and the product never saw the light of day. Needless to say, all the time, money, and resources Furqan invested in developing the product went down the drain.
LEARNING: Do thorough research to validate every idea before you invest in it. Size your position; invest just a little if the investment idea is high risk.
Ep440: Nada Lena Nasserdeen – Rise Up For You
BIO: Nada Lena Nasserdeen is transforming companies and individuals with people, emotional, and communication skills.
STORY: Lena Dena was a high-flying executive, but she gave it all up for a marriage that lasted just two weeks.
LEARNING: Focus more on the inner and not the outer things that make you who you are.
Ep439: Owen O’Malley and Ana Rodríguez – Don’t Lose Control of the Checkbook
BIO: Owen O’Malley and Ana Rodríguez are business and life partners. They are on a mission to create one million millionaires by 31st December 2050.
STORY: Owen invested $25,000 in a business he had no experience running because his friend convinced him to. The company failed, and he lost all the money he had invested.
LEARNING: Invest in something that is liquid and is in your control. Take time to ask questions before you buy into an investment idea.
Ep438: Curt Mercadante – Not Every Home Is an Investment
BIO: Curt Mercadante specializes in helping business owners deliver the right message to the right clients to generate the right revenue.
STORY: Curt grew up knowing that owning a home is an important investment that everyone should have. Over the years, and after a couple of losses, he has learned that a home is not an investment unless you’re planning on flipping it.
LEARNING: Don’t just take advice at face value, do your research and get second opinions. Don’t fall for the American Dream fallacy; rent if that’s what you want.
Ep437: Simon Bedard – Make Your Contracts as Airtight as Possible
BIO: Simon Bedard is the CEO of Exit Advisory Group, a boutique M&A firm, that also provides a range of advisory services focused on exit strategies and how to maximize company value.
STORY: Simon had a client who convinced him to change the terms of their contract. The change worked in Simon’s favor because he made $2 million after delivering his services instead of the low seven-figure he had quoted. Unfortunately, the client now felt this was more than he expected and refused to pay up.
LEARNING: Make your contracts airtight enough to cover you during conflicts. A contract is important but doesn’t have to be everything.
DISCLAIMER: This content is for information purposes only. It is not intended to be investment advice. Readers should not consider statements made by the author(s) as formal recommendations and should consult their financial advisor before making any investment decisions. While the information provided is believed to be accurate, it may include errors or inaccuracies. The author(s) cannot be held liable for any actions taken as a result of reading this article.