012: the money game

The money game

Coming to the realization that money is a big game and that there are rules that you are unaware of is the first step in winning the money game. We exist to teach you these rules and to help you win the game of money.

Overview:

Episode Highlights:

1. The Money Game (00:00:07 - 00:00:09)

·        Josh discusses the concept of treating money, wealth-building, and finances as a game.

·        Emphasizes the importance of having a game plan and strategy for managing finances effectively.

·        Compares the similarities between managing money and sports competitions.

2. Simplifying Finances (00:00:20 - 00:00:32)

·        Josh suggests simplifying the complexities of personal finances by focusing on the basics.

·        Advises the audience to start by setting clear financial goals.

3. Offense and Defense (00:00:33 - 00:01:51)

·        Draws parallels between offense and defense in sports and personal finance.

·        "Offense" refers to increasing income, potentially through additional streams.

·        "Defense" involves reducing expenses and implementing a strong tax strategy.

·        Highlights the importance of playing both offense and defense to build wealth effectively.

4. Building a Game Plan (00:02:02 - 00:02:52)

·        Recommends creating a base game plan for managing finances.

·        Suggests gradually adding elements like long-term investments, business ownership, and diversified assets.

·        Emphasizes the need to simplify and set goals at the beginning.

5. Continuous Improvement (00:02:54 - 00:07:44)

·        Encourages the audience to continuously improve their financial knowledge and skillset.

·        Uses Kobe Bryant's example of dedicated practice to enhance skills.

·        Advises listeners to pick a specific financial topic, study it, and find resources for learning.

·        Stresses the importance of taking notes and capturing key takeaways from learning materials.

·        Recommends a book, "The 12 Week Year," for setting and achieving goals effectively.

·        Discusses the concept of intentionality in managing time and personal growth.

6. Conclusion and Resources (00:10:52 - 00:11:03)

·        Josh's goal is to help people become "good at money."

·        Asks the audience to rate, share, and support the podcast.

·        Promotes the website Areteinvesting.com, offering a guide to syndicated real estate deals.