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Growth - The Uninformed Things People Invest In With Ben Knight, Part 1
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In this episode of the Stay Hungry Podcast, Joel sits down with finance/investment expert Ben Knight to unravel some common myths about money management. They discuss the reality behind managing finances effectively, the truth about passive income, and why emotional attachments to investments can be misleading.
KEY TAKEAWAYS
- People who have come into money, usually inheritance, are the most targeted and vulnerable group and that’s not a coincidence.
- Just having money, doesn’t mean you know how to manage money and maintain it.
- Passive income is a myth because everything requires something at the start, whether that be time, money, or experience.
- Property investment is sold as a very hands-off investment because of the time frame you’re talking about, but there’s still a lot of work that you have to put into it.
- There’s so much other responsibility that comes with property investment, other than just ‘this is the money I’m putting in, and this is the return I’m hoping to get’.
- You can have a great property strategy that’s tried and tested, and you know if you do X, Y, Z, chances are you’ll make money. If there’s an industry like watches, where it’s a lot harder to have a set strategy due to less data etc, suddenly it becomes a lot more risky.
- You can’t have too much of an emotional connection to the stocks you invest in. Your love for a business has 0 impact on the stock price.
VALUABLE RESOURCES
ABOUT THE HOST
Joel Stone
Joel Stone is a marketer and disciple of business strategy. After seeing the impact of the 2008 recession, he decided to take control and leave employment to set up in business for himself. He quickly built an award-winning design agency, partnering with Andy Rao on numerous projects until they formed Codebreak in 2019.
Having previously helped brands including GlaxoSmithKline, Diageo, Beta Tools, and Channel 4, Joel’s work has been seen all over the world. He takes pride in applying techniques normally reserved for huge corporations to SMEs throughout the UK. Case studies of Joel’s work have featured in Design Week, The Drum, and Social Media Today.
Website - https://www.codebreak.co.uk/
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