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How To Build Wealth | Lessons They Should Teach You In School

Jay Lawrence | Ambitious Minds

13,377 views

This week, I’m joined by Andrew Craig, the founder of Plain English Finance and author of the personal finance book How To Own The World.

In this episode, Andrew and I discuss how investing can be used as a powerful tool to build wealth, what it really means to invest in shares, the importance of starting early, why you shouldn’t be relying on the state to pay you a pension in retirement, how inflation is killing your cash savings, plus much much more.

Andrew’s book is a must-read for anyone looking to understand the world of investing.

Expect to learn:
03:19 The Importance of Financial Literacy
08:19 The State of Pensions and Future Challenges
11:47 The Power of Compounding and Early Investment
14:41 Government Policies and Economic Implications
26:38 Understanding Inflation and Investment Strategies
31:37 What it Means to Invest in Shares
37:09 The Misconceptions About Financial Markets
45:49 The Importance of Regular Investment
57:52 Future Trends
01:10:23 Comparing US and UK Economies
01:11:15 The US Advantage in Technology and Innovation
01:11:37 Challenges Facing the UK Economy
01:14:08 Historical Market Trends and Lessons01:25:20 The Importance of Supporting British Companies

Discover Andrew:

Website - https://plainenglishfinance.co.uk/
YouTube - @plainenglishfinance
LinkedIn - https://www.linkedin.com/in/andrewcra...
Buy Andrew’s Books - https://plainenglishfinance.co.uk/books

Get In Touch:
LinkedIn - www.linkedin.com/in/jay-lawrence-5a4b3357/
Website - ambitiousmindspodcast.com
Instagram - www.instagram.com/ambitiousmindspodcast

17 Comments

@bjpcorp 2 months ago

I never learnt to drive, because I live in the city and it's cheaper to pay someone else to drive for me. But from running a business I learned about pensions, ISAs, investments, HMRC, taxes, tax avoidance, then equities, bonds etc. They didn't teach any of this in school, because they want us in debt.

@palmtree-e2l 1 year ago

Excellent podcast. Andrew Craig needs to go into every school/university in the UK and give a talk like this which should be compulsory to attend. It would surely go some way towards increasing the financial literacy of future generations. If even 51% of the population were financially clued up it would make a huge difference for everyone.

@king12341544 1 month ago

this podcast is very good. it is true, i invest 20k every year and it has changed my life on 8 to 10% return

@musheopeaus4125 12 days ago

100 minus age would of left me destitute. In 57 with 100% in global equity ETFs . With. Five year cash buffer

@PlainEnglishFinance 1 year ago

Many thanks for this Jay! BTW - I think it is important to flag that just before I said you'd be a "multi-millionaire" from buying Apple stock equivalent to the value of buying iPhones over the years, I said that this was a meme which probably wasn't accurate. Context important, not least given that I called out someone who said that you'd be worth about $300 million if you'd done that on Twitter last August. Other than that, hopefully most of the rest of the i/view is accurate! 😊

@andy24242 2 days ago

10% of the average UK salary after tax (£263/month) at 9% annual return for 30 years is £450k (nominal). 10% annual gets to £550k, not quite a million pounds. However, global equities have a long term average of 5.2% real returns, so this £450k is £222k in today's money. The US long term average is 6.75% real annual return, £296k. Still worth it considering you put in £95k to get there, but not seven figures

@adida.sativa-dv2el 2 weeks ago

Cash is still king. If your worried about inflation you don't make enough money.
Number 1 wealth builder is income not investing

@HannahDarby-u3n 1 year ago

Fantastic podcast, Andrew’s passion is infectious, absolutely brilliant

@Abdul_Rahman86 1 year ago

Andrew Craig’s an awesome guest!! I can listen to him for absolute hours!!!!
Now here’s something harsh! If you don’t invest you deserve to be broke in the future. You’re telling me you can’t put 10% of what you earn into a broad diversified index fund?
My mate took out a £7k loan to take his kids to Lapland. No pension, no assets, no savings.
I love the guy but he did it for his own ego and not his kids

@CaldonianDude 1 year ago

Good podcast. I see the biggest challenge as not so much accumulating wealth as protecting it from greedy and increasingly desperate politicians...

@SalSpeaks 1 year ago

I SEE ANDY, I LOVE AND SHARE

@Bruce8707 1 year ago

Great info and the host does a really great job of letting the guest speak. I agree with most everything that Andrew is talking about. But... I reckon I would get drunk really quickly if I played take a drink everytime Andrew mentions his book.

@JavionPorter-r6m 10 days ago

Would love to have a conversation on your programme i have the most interesting investing story

@rockyou1234 2 weeks ago

Poor kid. I understand your point. Rather spending 50£ for a toy, it is brilliant that you invest and make the money grow.

But if you are a kid would you prefer a toy or 50£ in JiSA. When kid ask for a toy dad will show his JISA account. I feel bad for kid. Kid needs toys and toffee and JISA. Kid remembers memories of the toy not JISA account

@Shaggy-839two 2 days ago

Credit goes to capital markets, that have benefitted from coerced capitalism by the west and via imperialism and colonialism. No wonder he writes for the telegrapgh. Dismissing Gaza like that.