The Race Rat Podcast

The final episode of The Race Rat Podcast, for now... --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode I discuss the pain of new investors seemingly knowing everything there is to know about markets. They are all over tikTok, Youtube, creating discords, and other various form of monetization. But the reality is most of them are trading options with stimulus checks or college students just trying to make a few bucks. I explain how this new wave of investing is really fueled in greed and egotism and how at some point it will catch up to them while those who remain prudent longterm investors will be rewarded. Sponsor the podcast here: https://www.advertisecast.com/TheRaceRatPodcast Connect with me here: https://linktr.ee/raceratpodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this week's episode we discuss the proper headpsace or perspective to embody when trading or investing in financial markets. I talk about how the two most important factors are opportunity cost and limiting drawdown. I explain how long term investors have to focus on contributing to their holdings consistently and not making poor personal purchases. I share how traders can only be successful by limiting drawdown rather than focusing on losing money. Want to sponsor the podcast? : https://www.advertisecast.com/TheRaceRatPodcast Connect with me here: https://linktr.ee/raceratpodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode we are talking about how and why Bitcoin could reach a $500,000 price target. In this episode I explain how Cathie Wood, founder of Ark Invests, describes her $400,000-500,000 Bitcoin price target. I explain why I sold all of my cryptocurrency and why I do not plan on re-entering and what you can do if you own or do not own cryptocurrencies. If you're interested in sponsoring the podcast, click here: https://www.advertisecast.com/TheRaceRatPodcast #Bitcoin #crypto #cryptocurrency --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this week's podcast episode we're talking about investing in Asia stocks. Are they safe, are they undervalued, and is it a good form of diversification? Essentially, we talk about how given the political and economic climate warrants potentially good returns in China, Singapore, and Hong Kong related companies. this is because of strength in their economy relative to the west and the potentially large growth in the top internet based companies coming out of the fastest growing economies in the world. Connect with me on social media or sponsor the podcast here: https://linktr.ee/raceratpodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this week's episode we discuss the importance of rate of return. How increasing or decreasing your rate of the return can have significant benefits and consequences. Check out all the other episode for more information on investing. Sponsor the podcast here: https://www.advertisecast.com/TheRaceRatPodcast investing, stock market, stock options. day trading, trading, options trading, financial education --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this week's podcast episode we discuss the difference between growth and value stocks. The key differences between why growth stocks grow faster, and how you can use metrics to evaluate whether or not they worth investing in. Sponsor the podcast: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode we breakdown credit spreads and how they function. We discuss the pros, cons, risks, and strategies credit spreads can be used to integrate into your options trading or investing strategy. Download Robinhood here and get a free stock: https://join.robinhood.com/evans530 Sponsor the podcast here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode we discuss capital preservation and the importance between assets and liabilities. Once we can identify a true asset from a true liability then we can effectively evaluate opportunity cost of purchasing decisions. The breakdown of this episode consists of: Building the confidence that you can succeed in a world that tells you the opposite Understanding the difference between assets and liabilities Opportunity costs of purchases (Mortgage example) Capital preservation and wealth creation. Sponsor the podcast here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this week's episode we talk about how you can make some extra money in the stock market by using covered calls. Covered calls is an options strategy that allows you to collect premium for agreeing to sell your shares at a certain price. Meaning that it can be an awesome strategy. to make profit on the equity of the stock and the cash flow from the premium! Sponsor the podcast here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this week's episode I talk about the advantages of selling put options in the stock market. Selling put options is an amazing way to buy great stocks for cheap, and also generate cash flow in the process. It's one of the most minimal risk investing strategies that can lead to significant return on investments. If you would like to sponsor the podcast please book it here: https://www.advertisecast.com/theraceratpodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this week's episode we discuss the horrors of selling losing investments for a loss. I talk about how it now only makes it twice as hard to recover the loss, but also how it can significantly affect longterm financial wellbeing. --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode we talk about the importance of compound interest! How it works, why it's so important, ad how it can be used to your advantage. It's what Albert Einstein called "The Eighth Wonder of the World" and the secret behind Warren Buffett's famous investing strategy. #investing #stockmarket --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode I wanted to take the time to talk about fake entrepreneurs and then effects they are having on people looking to reach financial freedom. How many times a day on social media do you see some earlier 20s guy preaching about how he made 7 figures day trading, Amazon FBA, dropshipping, and so on and selling a course for $2000?! I talk about these people are trying to sell an often garbage product to people that are desperate to find financial freedom or escape the rat race. I finish the episode talking about how all of these influencers are pressuring everyone, including myself, into thinking that employees are broke and stupid and entrepreneurship is truly the only path to success. It's important to remember that "success" is only a definition of what your own personal goals are and that the amount of money you have or what you do for a living is irrelevant if you can't find a way to be content. --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this week's episode discuss the fuel behind the beginning of a new raging bull market. I expect to see the stock market continue to expand at higher than normal returns fueled by government printing of money. I know this money will have to go somewhere and that this large expansion of credit means nothing but new highs. Interested in sponsoring the podcast? Click here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode I review why margin trading and using leverage can be one of the most destructive things to do to a portfolio if it is used improperly. I talk about how it often magnifies the losses behind amateur trading and investing and can significantly impact the future wellbeing of an investor's portfolio. --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In today's episode I sat down with Rodrigo of the Audio Class Experience Podcast to talk about stock market volatility. Below are the list of questions that we discussed regarding the stock market and the current state of the economy 1) Is there going to be another crash sometime soon? 2) Why has the market dipped in recent days? 3) The role and influence of central banks during this recession 4) Stock market vs real economy 5) Effect of the November election 6) By when a possible recovery 7) Possible future investments or investments to look out for Sponsor the podcast here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

Oftentimes the stock market and the economy are mistakenly referred as the same thing. In this week's episode I highlight the difference between the two and how you can identify the health of Wall Street versus Main Street. Want to Sponsor the podcast? Book an ad here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In today's episode I go over how you can grow your investments using long dated options contracts. I explain why I'm not a fan of trading short term expiration options contracts, but how long term contracts can have many benefits. These benefits include defined risk, exponential returns, and ability to purchase shares on sale. Want to Sponsor the podcast? Book an ad here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this week's episode I discuss the argument of the stock market bubble? Is there a bubble? Is there always a bubble? When will it pop and how it could pop? Could this be the beginning of another great bull market? So many factors that are involved in the stock market, but price has nothing to do with it! Tune into to find out why! Want to Sponsor the podcast? Book an ad here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

Have you ever considered investing in Bitcoin but were uncertain if it was right for you? In today's episode we go over the pros and cons of owning Bitcoin. Is it really investment, was it a bubble, or can it actually be a store of value? Want to Sponsor the podcast? Book an ad here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

Have you ever wanted to try stock options, but weren't really sure how they work? In this episode I go over how stocks options work. The difference between calls and puts, how the value of option fluctuates, and why people try to use them to get rich quick. I highlight why stock options buyers are usually losers and why the smart option is to actually start selling options or using leaps. Most importantly why you should most likely stay away from options in general. Want to Sponsor the podcast? Book an ad here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

The Federal Reserve is the central back of the United States. They've recently come under fire for their monetary and fiscal policy in the 2020 financial crisis. In today's episode we discuss market function, market theory, and how the FED, or federal reserve, is actually good for the American economy. Want to Sponsor the podcast? Book an ad here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode I sit down to discuss how almost everyone and anyone can become a millionaire by making smarter financial decisions. I highlight the importance of first getting into the frame of mind that you believe you can achieve what you desire and then taking a plan of action to get there. I highlight why young adults should be focused on not going into debt to go to school, buying houses, or cars, and rather try and build their wealth to have more later. Want to Sponsor the podcast? Book an ad here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode I had the pleasure of sitting down with Joel C. Peterson, former Chairman of JetBlue, current owner of Peterson Partners, and Stanford GSB professor to discuss what it means to think like an entrepreneur and develop leadership. Joel shares how his creative thinking led to innovation and further business development in many different avenues. But most importantly, we discuss what it means to be a leader and a forward thinker. Want to Sponsor the podcast? Book an ad here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

What happens to the future of the economy when the pandemic is finished? What kind of outcome or change in the world will we experience and who will be effected? These are all valid questions about the uncertainty currently dwelling in the world economy, but in this episode I explain why losing your job, buying a home, or even making investments should not be focused on the current state of the economy. Want to Sponsor the podcast? Book an ad here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode we discuss the true effects and the reality of people looking to day trade for a living. I breakdown the mentality behind people searching for a way to make money, in a learned skill, and being sold a this easy luxurious lifestyle when the data suggests otherwise. I then transition to why the entire concept of day trading is flawed and a waste of time when people can learn to invest in mutual funds managed by the institutions that most retail traders are fighting against anyways. Want to Sponsor the podcast? Book an ad here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode I discuss my own experiences of falling into the get rich trap. I talk my fatal mistakes of trying to trade bitcoin and other volatile and risky investment options. It wasn't until I was burned too many times that I realized that trying to have that one big break or that one investment that changes your life wasn't the way to go and the way to truly win was to play the decades long game of investing consistently, overtime, in growth. Try Gatsby HERE: https://www.trygatsby.com/racerat Want to Sponsor the podcast? Book an ad here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode I sit down to have a one on with all of you and really guide you through the process that led me to making my very first investment. Id discuss the importance of being in the right mindset, acting in a disciplined manner, and making consistent investments in order to achieve a financially successful life. Try Gatsby HERE: https://www.trygatsby.com/racerat Purchase "Simplify Your Financial Life" HERE: https://www.amazon.com/Simplify-Your-Financial-Life-Creating/dp/1632992833 Want to Sponsor the podcast? Book an ad here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

I had the pleasure of sitting down with the Co-Founder of WAG! (the dog walking app) and 2AM Talents and Ventures, Brendan Rogers. I talk with Brendan what it was like building his start-up, finding investors, and the challenges that came with this process. Later in the episode we transition into the importance behind building a brand and being in the right headspace to do so. Want to Sponsor the podcast? Book an ad here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode we discuss the importance of not only understanding the function of money but building a relationship with it. Far too many people in our world believe money is evil and poses not function except for corrupting lives. I explain the true function and solution that money itself is and how to deal with emotional barriers when facing money. The truth is money doesn't think anything of you. It has no bias. And when you can understand it's function and respect it, you can learn to be indifferent to it and create more. After learning its function and building a relationship with it, you can then begin to utilize it to build a prosperous life. I explain the results of renting vs a mortgage and how someone can alter the path of their life simply by taking the time to understand everything. Want to Sponsor the podcast? Book an ad here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode I got to talk with the co-founder and CEO of Cardone Ventures Brandon Dawson. Brandon is an incredibly successful entrepreneur and value provider. In his early 20s Brandon had dropped out of college and began working in sales and by the time he was 24 years old was making over $150,000 per year. As difficult as it was, he left Atlanta for Washington where he grew an equity company from a few to 60 million in just 36 months only using his savings to fund it. He then went on to build Audigy group which he sold at 77 times ebita for over $150 million dollars. Now, Brandon Dawson has partnered with 10x founder and real estate mogul, Grant Cardone to build Cardone Ventures, a firm built on scaling businesses in exchange for equity. In just 10 months Dawson and Cardone have over $500 million dollars worth of business in their portfolio and will surely continue to expand their influence and hopefully have a few of the business's IPO. You can follow Brandon on Instagam here: https://www.instagram.com/brandonmdawson/ You can find the 10X Business Owners Group here: https://www.cardoneventures.com/ --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

I had the pleasure of sitting down with Antoine Martel this week discuss what it was like starting in real estate investing while in college. Antoine, attended Loyola Marymount University just a few years back and dedicated himself to investing in real estate by his senior year. He attended meetups, took courses, and by age 22 had taken the $40,000 in his father's 401K and had bought their first single family rental property in Memphis, Tennessee. Just 3 years later The Martel family now has a real estate portfolio worth over $15 million dollars in value and includes over 85 cash flowing units of rental properties. They also founded "Martel Turnkey" a business model focused on renovating properties to then sell to investor who will then use those properties to generate cash flow and achieve financial freedom themselves. Martel is an incredibly knowledgeable, transparent, and driven man who truly has a passion in real estate and will continue to disrupt the marketplace as he moves forward. --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode I wanted to address the idea that so many people deeply believe about traditional education that are not true about financial education. The first one, the idea that in order to increase your income or become more successful is to go through more schooling. The idea that a Bachelor's degree doesn't cut it anymore and that you need to get a Masters or A PHD in order to make enough money. I break down the math behind it to prove that the cost of getting a graduate degree can be detrimental to the financial success of a person. Second, the idea that building wealth is rocket science. Not building a pyramid scheme, or multi-level marketing business, but how almost anyone can become wealthy if they find a way to invest from a consistent basis every month from the time that they start working. How if a person can start investing $300 a month from ages twenty to sixty five, they can amass a portfolio of over 10 million dollars depending on the rate of return. Want to Sponsor the podcast? Book an ad here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode I sat down to talk about some perspective that has came to my attention during the recent times. A lot of people are feeling cooped up feeling like they need to change things and succeed right this instant. They are taking approaches to business and life with only a short term perspective. In my opinion, that might be the quickest way to lose and be unsuccessful. The Practical Perspective Needed To Succeed In Business And Life In The Long Run is to do less talking and take more action. It's about getting real quiet, not letting other people's opinions or validation affect the way that you fee about yourself. Just putting your head down executing and letting your results speak for themselves. --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode I sat down with Eden Sustin and Kim Somers Egelsee of Talk Purpose and Truth podcast to discuss what it was like building their own personal businesses. They both shared insight into their early adulthood where they began to develop their minds and knowledge behind what they do know. Eden, a medium and automatic writer, had known she had her unique capabilities for a while, but it wasn't until she was asked to do a reading where she realized she had a god given ability and needed to use it to help other people. Kim had gotten involved in personal development and public speaking where she shared they staged with many of some of the biggest names in the industry. However, they both realized in their thirties and forties that there was another calling for them. They each had their separate personal businesses, they reconnected after being acquaintances in high school. Not longer after it blossomed into a new friendship and business partners. Today Eden and Kim have now written a book channeled by the late musician Prince which is planned to be launched in the near future and a podcast partnered with the Imperfectly Perfect Campaign where they talk with impactful celebrities about mental health and overcoming personal struggles. You can listen to their podcast here: https://podcasts.apple.com/us/podcast/talk-purpose-and-truth/id1467833480 Find them on Instagram here: Podcast: https://www.instagram.com/talkpurposetruth/?hl=en Eden: https://www.instagram.com/edenhs/?hl=en Kim: https://www.instagram.com/kimlifecoach/?hl=en Find Eden and Kim's websites here: Eden: https://www.edensustin.com/ Kim: www.kimlifecoach.com --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In today's episode we discuss how you can protect your money and assets in almost any market. It doesn't matter if it stocks, cryptocurrency, or even real estate, the truth is people are hurt when they have too much leverage and don't apply proper risk management. It's one thing to make a lot of money very quickly, but it's another to be able to keep that money and allow it to turn into more. I talk about my experience making a lot of money very quickly and losing it all very quickly in cryptocurrencies like Bitcoin. I also discuss how similar things can be applied to stocks and real estate today. Capital preservation is the most underestimated part of investing and is a key point of growth for any entrepreneur or investor. --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In today's episode I have a conversation Yan Stavissiki to discuss how he went from being $82,000 in Credit Card Debt To A 7-Figure Entrepreneur and Travel Hacker. Just a few years ago Yan had graduate from UC Berkeley and San Fransisco State with degrees in Finance and Marketing. After applying to over 100 employers he had no luck and decided to try his luck with 5 different businesses's all funded by credit cards. Just a year later he found himself $82,000 in debt, making $3,000 a month, and owing $4,000 a month in interest on his loans. He decided to make a change and got hired in sales for a cryptocurrency exchange called LATOKEN. After trial and error he found himself making multiple six figures, but actually began leveraging his lines of credit. By leveraging his credit appropriately he was able to build multiple 7 figure businesses and now is a professional travel hacker and is able to take hundreds of flights every year for almost nothing. I also wanted to get further into detail about how credit cards allow you to not only build your businesses but be able to professionally travel hack as well. If you are interested in knowing more about Yan and Inner Circle you can find his TikTok and Instagram here: https://www.instagram.com/yanstavisski/ https://www.tiktok.com/@captaincredit? Want to Sponsor the podcast? Book an ad here: https://www.advertisecast.com/TheRaceRatPodcast --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode we discuss why spending money is the only way to become wealthy. Now I know what you're thinking, don't you have to save or invest? You need to be able to spend your money on income producing cash flow. In a time where the economy is uncertain and there are massive discounts on stocks and investment properties, you will not get rich saving your money. You must use all the extra cash you have lying on the side and spend it like crazy. You'll never go broke buying great discounts with high intrinsic value in whatever market you are in. When it comes to business the same thing applies. Spending money on assets whether employees or equipment when it was widely available will benefit you in the long run! If you LOVE the podcast become a monthly supporter by donating here! : https://anchor.fm/the-race-rat-podcast/support Subscribe to my YouTube channel here: https://www.youtube.com/channel/UCldOBP90wn1TD2e1KkwaO3w? Follow me on Instagram here: https://www.instagram.com/theraceratpodcast/?hl=en --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode we are discussing the stock market crash of 2020. So far the stock market crash of 2020 has been the quickest drop of all time. Many people are looking to invest into the market at this point in time and "buy the dip". In this episode I discuss why it is a very real possibility the market will not see any upside for next 10 years. I go over the strategies of some of the greatest investors of all time such as Warren Buffett, Charlie Munger, Jim Simons, Ray Dalio, and Peter Lynch, and Jessie Livermore to do a comprehensive review on the current state of affairs in the market. I genuinely believe that during this slowing of economic growth it will cause the markets to enter a new consolidation phase for the next decade or so before a large mark-up. Remember, this is not and will never be financial advice, this is solely my own opinion, please apply proper risk management and consult with a financial advisor before making any sort of investment in the market. --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

This Corona Virus, also known as Covid-19 has been spreading around the world and the United States. It having not only an impact on the health of people around the world. Because of the virus entire countries have shut down which obviously leads to a financial crisis as well. The economies of certain countries are shut down. Restaurants, air travel, hotels, banks, and more are in some deep trouble. Obviously the effects of the virus will disappear one day, but how do you truly prepare for both a health and a looming financial crisis. The key is to be prepared. Don't let the mass hysteria get to your head, be cautious, listen to the rules of health officials, and have cash ready to invest once everything settles. It's a scary time, but I truly believe it will set up one of the greatest opportunities for health care systems and financials for the rest of the century. Remember, this is not financial advice, listen to public health officials, and stay safe. --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

Overcoming self doubt is one of the most difficult parts of trying to become an entrepreneur. When faced with the challenge of a new journey we often doubt if we have the ability or the skills to succeed. Self doubt, anxiety, and depression can creep into the back of our minds and hinder us from reaching out full potential. In today's episode I sat down with Victor C. Samuel, author of Lost Boys, to discuss the self double and mental struggles we have both experienced. We also discussed how to overcome these states of anxiety or depression and how you can learn to manage them on your journey to becoming an entrepreneur. --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In today's episode I talk with Matt Martinez, Host of The Human of the Glue Podcast, about what it was in our lives that led us to our purpose. It's essential that every person has some sort of purpose in their life. Even more important is a purpose to serve others and provide a valuable product or service. In this episode Matt and I dig deep and find what are why is. We discuss what it is that helped us through our creative process and how our life experience impacted us into the people we are now. Make sure to check out Matt's Podcast "The Human Glue Project" available on all platforms. --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

Betting on yourself means taking the risks that you feel you need to take. Against all odds or whatever might sway you, when you have a desire strong enough to pursue the things that you want through trials and tribulations, success and greatness land on the other side. In this episode I discuss the importance of betting on yourself and share my own personal experience with what I bet on myself. --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode we talk about what Albert Einstein called "The 8th Wonder Of The World", compound interest. We discuss the power of compound interest and how it can be used to grow your wealth substantially with the help of time. We discuss how the difference between investing at 20 and 40 changes the outcome of your entire life and the importance of time when investing. Subscribe to my YouTube channel: Evan Shepard for a series on Investing. --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

Everyone has heard the term, "more money more problems". It's a common saying, meaning, that the more money a person has the more problems they deal with likely because money is the root of all problems. In this episode I discuss why this isn't the case at all and why making money has nothing to do money problems. I explain how our lives our dominated by two emotions, fear and greed and how those emotions often times find their way into our wallets. While most people focus on making more money, they should focus on what they choose to spend with their money. By choosing to spend their money on assets rather than liabilities than can create an enormous amount of wealth. --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode we discuss how the term Wall Street has changed. A few decades ago if you wanted to get started investing you had to contact some sort of stock bork.er They took large commissions fees, weak returns, and didn't want to work with anyone who might have been poor. We are now in a day and age where Wall Street is becoming part of our bank accounts. We have apps that allow us to invest straight from our phones. We have brokered exchanges that are changing to commission free trading. Yet there are still politicians out there telling you that people on Wall Street are corrupt, greedy, and you will never be able to become a wealthy person through means of investing in the stock market. I cannot stress the importance of understanding that that is entirely untrue and a limitation on your mind. Do not buy into what politicians want you to believe, that you need their help, believe in your own ability and your own thinking. --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode I discuss the two biggest lessons from the book "The Richest Man in Babylon" in the book, the main character teaches the poor how to get rich, in hopes of making Babylon the richest city in the world. His two major points where the desire to become rich and the discipline to save at least 10% of his earnings. In this episode I expand on both the importance of desire and how it plays a crucial role when you feel like quitting, are unsure, or just getting started. I also touch on the topic of how relationships can affect your ability to be a successful. Having relationships with people who bring nothing to the table is going to hold you back, but having relationships with people who support and motivate you will continue to move you forward. --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

The thing that differs entrepreneurs from the average person is their perspective. Having the perspective of an entrepreneur means being able to think outside the box and not conform the mold the world wants you ti fit in. By approaching a task, a challenge, or a journey, with the right perspective it often makes all the difference. --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode I reflect on the past couple of years of my life and how drastically they changed. I talk about how I wish I could tell my 18 year old self what I have learned in those 2 years of consistent failure. Losing money and wanting to quit in my trading journey. I discuss about how I was expecting to achieve success incredibly quick. I want to make money very fast and lost almost everything I touched. I wanted to change my circumstance by taking the same approach. It was only recently when some things occurred that changed my perspective. When I changed my perspective I was able to change my approach and began to start seeing results. --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support

In this episode I discuss the importance of leveraging money and using that to increase your wealth. So, what exactly do I mean by this, leveraging your money is the ability to create more money than what you physically have to work with. Usually being able to leverage money applies best in the real estate and forex markets. For example, you put a 20% downpayment on a home and in return receive 5 times more in the value of your assets. If you were trading forex, you could leverage your positions sizes up to 50 times what is in your account. By leveraging money you can obtain higher returns on any sort of investment, although there is a higher risk. But this is the key to expanding your wealth and your empire from a younger age. The truth is investing in the stock market will never work. Why? Because 98% of people only make money when the market is going up and they can only invest what is at face value. --- Support this podcast: https://anchor.fm/the-race-rat-podcast/support