Here's How Anyone Can Get Rich
Making Money Podcast
171,827 views
Andrew Craig is the author of arguably the most useful British personal finance book of all time - How To Own The World. It was the book that opened up Damo’s eyes to what’s possible, laying out the steps for building wealth. Can anyone really get rich? Yes, you can… if you have enough time. Andrew explains how.
🤝 Want 1:1 money help from us?
Book free call & find the right service: https://getmost.typeform.com/pod-epis...
📈 Investment platforms we use:
Trading 212
Watch this video where Damo explains how to get the most from Trading 212: How to start investing on Trading 212
You can get free fractional shares worth up to £100 when you deposit £1 through this link (terms apply): https://www.trading212.com/promocodes/MM
Or use the code ‘MM’.
Vanguard
Minimum investment of £500 or £100/month
https://www.vanguardinvestor.co.uk/
If you purchase a product or service using one of these links, we may receive a small commission from the seller. There will be no additional charge for you. Remember investments can fall and rise - and past performance is no guarantee of future results. Other fees may apply. Your money is at risk.
🎉 Sponsors:
Get 45% off Blinkist after a 7-day free trial.
https://blinkist.com/makingmoney
✉️ Get emailed a summary from this episode:
Subscribe here: https://makingmoney.email/ep2.
Disclaimer:
This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.
Chapters:
00:00 - Intro
00:48 - What does it mean to be rich?
04:42 - The good news - why it’s not too late to grow your wealth
09:30 - How to get richer (over the long-term)
13:07 - Why footballers end up skint
15:45 - Investing, NOT trading
20:34 - The problem with crypto
23:11 - Be patient, you’re in this for the long-term
27:02 - How to own the world
32:42 - Money gives you choice, not happiness
37:53 - Why we have to talk about money
39:43 - Key takeaways
20 Comments
That sentence makes things so not scary anymore. Loving the new podcast.
Thank you for inviting him to this Podcast!
Listening to this and time flew.
Literally felt like 5 minute
Whilst I agree with all the points in the video, the reality is unless your income is high your deployable capital will always be low.
Yes investing even a trivial sum and assuming stock market returns for 40 years would make most people millionaires but people forget that they will be 70 odd when this happens.
It's more accurate in this case to say that focusing on cutting costs, being frugal and investing will ensure you will have a good retirement but will do very little for your quality of life between 25-65.
I can set up an index fund with Vanguard in about 15 minutes and then set up a DD from there to automate the process each month.
Why aren't we focusing on telling people that they need to maximise their income? More often then not the people on youtube who dispel information such as this are on far above average incomes.
Their compounding won't look like yours.
If you want to actually use the compounding you generate, I would hammer down on increasing income as much as possible in addition to all the above.
Here's How Anyone Can Get Rich
Making Money Podcast
171,827 views
Andrew Craig is the author of arguably the most useful British personal finance book of all time - How To Own The World. It was the book that opened up Damo’s eyes to what’s possible, laying out the steps for building wealth. Can anyone really get rich? Yes, you can… if you have enough time. Andrew explains how.
🤝 Want 1:1 money help from us?
Book free call & find the right service: https://getmost.typeform.com/pod-epis...
📈 Investment platforms we use:
Trading 212
Watch this video where Damo explains how to get the most from Trading 212: How to start investing on Trading 212
You can get free fractional shares worth up to £100 when you deposit £1 through this link (terms apply): https://www.trading212.com/promocodes/MM
Or use the code ‘MM’.
Vanguard
Minimum investment of £500 or £100/month
https://www.vanguardinvestor.co.uk/
If you purchase a product or service using one of these links, we may receive a small commission from the seller. There will be no additional charge for you. Remember investments can fall and rise - and past performance is no guarantee of future results. Other fees may apply. Your money is at risk.
🎉 Sponsors:
Get 45% off Blinkist after a 7-day free trial.
https://blinkist.com/makingmoney
✉️ Get emailed a summary from this episode:
Subscribe here: https://makingmoney.email/ep2.
Disclaimer:
This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.
Chapters:
00:00 - Intro
00:48 - What does it mean to be rich?
04:42 - The good news - why it’s not too late to grow your wealth
09:30 - How to get richer (over the long-term)
13:07 - Why footballers end up skint
15:45 - Investing, NOT trading
20:34 - The problem with crypto
23:11 - Be patient, you’re in this for the long-term
27:02 - How to own the world
32:42 - Money gives you choice, not happiness
37:53 - Why we have to talk about money
39:43 - Key takeaways