My 4 takeaways from a finance conference (and how it can help you make $$)

Hi again Reader ,

I was Future Proof 2023, a “Wealth Festival” for financial planning this past week.

No, it was not for finance bros.

And yes, it has become my favorite festival because it’s in LA (☀️), on the beach (literally 🏖️) and has lots of big names from the finance space.

I got to meet Tori Dunlap, Nick Maggiuli, Doug Boneparth, Ben Felix + Cameron Passmore, and Dave Zoller (if you dont know these names, no sweat… they are micro celebrities in finance)

Anyway, here are my takeaways and actionable steps for you!

1) Everything is a f**king distraction

There was a hot new topic on the docket: AI!

AI will outperform the index.

Just like crypto in 2022.

Just like whatever it was in 2021.

There was also thematic investing, China, direct indexing, gold, etc etc etc.

They are all a big distraction.

We don’t NEED to beat the market. We need to be able to invest money to get AVERAGE returns for ABOVE AVERAGE amounts of time.

What you can do: Think in decades, not in years.
Once you have your investment strategy locked, you will get results by sticking to it over time.

2) You need a filter, not an information source

Content is being produced faster than ever before.

It is also very overwhelming when there are 32 billion articles on what to do with a 401k if you are on an H1b.

But I think it’s an opportunity.

Learning to sieve out the good from the bad will be your competitive advantage.

As a financial planner, I tell people I don’t get paid for information. I get paid to provide timely, context-specific information for you AND help you implement it.

What you can do: Purge the accounts you follow on social media.
Find one solid source of information and soak up their content with dedication. You can always level up your feed once you need more advanced ideas.

3) Level up your skills

I got to see Morgan Housel (bestselling author of Psychology of Money) and Jeff Gundlach (a billionaire investor) share how they built wealth.

Morgan Housel spoke about how all his wealth is primarily in index funds, with some cash in the bank and some tied up in his house.

Jeff Gundlach, who has made billions in the Bond market, spoke about he invests heavily in bonds.

Both got rich, but leveraged their unique skills to get good at what they do.

What you can do: Dedicate some of your money to self-improvement.
Learning does not end after you get a job, so commit to spending 5-10% of your salary on courses to level up not just your technical skills, but also your soft skills like negotiations, leadership, etc.

4) Financial education is more basic than you think

As Tori Dunlap, a phenomenal finance content creator shared, “The #1 investing mistake people make is not investing”. She didn’t mean that broadly, but was referring to people who didn’t know that AFTER opening a 401k, Roth IRA etc., they had to use the money to buy a mutual fund within these accounts.

What you can do: Educate yourself!
Follow me on Linkedin and find other finance content creators who speak such that you understand. You can slowly level up your game as you become more knowledgeable.

Content creators are here to help, so support their work too.

I will leave you with this: My Linkedin DMs and email inbox are always open.

Do you have any burning personal finance questions?

Hit reply and let me know, and I am happy to help!

That’s all for today.

See you next month!
​

P.S. - I also do Ask-Me-Anything Fridays on Linkedin, so join me there if you have questions in the future!

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Fun Corners of the Internet

• I read the book 'How to Hide an Empire' recently and it is fascinating how much is left out of history textbooks.
  ​Here is a talk the author gave that briefly goes over parts of the book if you are curious!
• Do you forget stuff a lot? I have 7000+ things are a business owner and have been looking into brain dumping info in one place. Its called Building a Second Brain, it might help you too!

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The information discussed is educational in nature and is not and should not be construed to be investment advice.
​All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing strategy will be successful. For advice appropriate to your specific situation, please consult a financial professional.