If YOU Are 'Saving' Money, You NEED To Stop!

О видео

If you have $10,000 sitting in a savings account earning 2%, you are losing money every single day. Money expert Ben Felix, Portfolio Manager and Chief Investment Officer at PWL Capital, explains that a simple index fund returning 7% annually would turn that same $10,000 into $150,000 over 40 years. The difference between doing something and doing nothing is $140,000 on just one deposit. Ben approaches finance like an engineer. He spent years reading through academic literature because he was frustrated with the financial services industry, which he says operates more like a car dealership than a profession with your best interests at heart. His conclusion after all that research is surprisingly simple: investing has been solved. Low-cost index funds that capture market returns are the answer for most people. The problem is that human psychology keeps people from doing the simple thing. He walks through the 10 most common financial mistakes. Not earning enough is the first, and he frames it as a human capital problem: investing in your knowledge and skills, particularly rare and complementary ones, has a mechanical relationship with lifetime earnings. Steven shares his own example, where adding biotech industry knowledge to his marketing skills turned a standard salary into an $8 million contract in six months. The same skills, sold on a different market, were worth 160 times more. Discover: • Why $10,000 invested in an index fund becomes $150,000 in 40 years • The 10 financial mistakes that keep most people from building wealth • Why your $10 coffee actually costs you $150 over your lifetime • The PERMA model that tests whether your financial goals lead to a good life • Why academic research says young people may not need to save as much • How rare skill stacking can increase your earnings by 5x or more • Why most financial advisors are not acting in your best interest 📺 Watch the full episode here - https://youtu.be/jLFG_FZKbks ❤️ Subscribe to our main channel - www.youtube.com/TheDiaryOfACEO Get your hands on exclusive Diary of a CEO products: https://thediary.com/collections/all?utm_source=youtube&utm_medium=organic&utm_campaign=experiment&utm_term=clipschannel #thediaryofaceo #doac