Insights from Strategies for Success and Potential Pitfalls with Jordan Grumet, Dr. Lakisha L. Simmons, and Mariko Gordon
In Episode 1 of the Inspired Money Podcast's live stream series, “Financial Freedom Unleashed,” hosted by Andy Wang and produced by Bradley Jon Eaglefeather, an esteemed panel—Jordan Grumet, Dr. Lakisha L. Simmons, and Mariko Gordon—shared their insights on achieving financial independence and the challenges that come with it. The segment, aptly named “Strategies for Success and Potential Pitfalls,” delved into the intricacies of investment, financial behavior, and portfolio management. Here are the key takeaways from this enlightening segment.
LEp 1 – Segment 3: Inspired Money Live – Financial Freedom Unleashed
The Importance of Financial Literacy
Jordan Grumet emphasized the need for financial literacy, stating that it's crucial to “calibrate your meter” when it comes to understanding money. He urged the audience to learn about finance in ways that are accessible and jargon-free, highlighting that a well-informed approach to money management is essential for success.
Common Challenges in Achieving Financial Independence
Dr. Lakisha L. Simmons addressed the recurring challenges people face when aiming for financial independence. She advocated for de-escalating the conversation around finance, stating that most investments go up over time. The key, she said, is to be consistent and reasonable, allowing time and compounding to do the rest.
The Pitfall of Perfectionism
Jordan Grumet further elaborated on the idea that striving for perfection in investment can be a pitfall. He encouraged the audience to focus on being good or even just average, as long as they are consistent and reasonable in their investment choices. He stressed that the stock market is generally a favorable environment for long-term investors.
Keeping It Simple
Dr. Lakisha L. Simmons shared her personal experience of accumulating a million dollars at a relatively young age by keeping her investment strategy simple. She warned against the allure of new, cutting-edge tech ETFs or funds, sharing her own experience of significant loss in such an investment. Her advice was to stick to well-known, low-fee index funds and to invest consistently over time.
The Role of Behavior in Investment
Mariko Gordon highlighted the importance of understanding one's own behavior when it comes to investment. She pointed out that human nature often gets in the way of rational financial decisions, emphasizing the need for self-awareness and discipline in investment strategies.
Conclusion
The segment “Strategies for Success and Potential Pitfalls” from Episode 1 of the Inspired Money Podcast's live stream series, “Financial Freedom Unleashed,” offered a wealth of knowledge and practical advice. The panelists not only discussed the mechanics of investment but also the psychological aspects that often go overlooked. As you navigate your journey towards financial freedom, let the wisdom of Jordan Grumet, Dr. Lakisha L. Simmons, and Mariko Gordon guide you through the complexities and opportunities that lie ahead.
by Story Alchemist – Stella Knight (Creative Collaborative Media Design by EaglesVision).
Meet Our Esteemed Guest Panelists:
Jordan Grumet, aka Doc G
From internal medicine physician to financial independence expert, Jordan Grumet has a multifaceted journey that showcases his dedication to empowering others. He is currently an associate medical director at Journeycare Hospice and the host of the Earn & Invest podcast.
Dr. Lakisha L. Simmons, The AchieveHer®
Dr. Simmons is a retired financial guru and single mom who retired at 41 years old. She is the founder of BRAVE Consulting and has touched thousands of women's lives through her platform, AchieveHer. Her story of overcoming obstacles and achieving financial independence is an inspiring testament to her grit and determination.
Mariko Gordon
Mariko Gordon built $2.5 billion money management firm Daruma Capital Management, specializing in small-cap investments. After 30 years of analyzing companies, speaking to management teams, studying competitive landscapes, and taking apart business models, she helps people to run their businesses, finances and lives on their own terms.
Guest Links:
Jordan Grumet (Doc G): https://www.jordangrumet.com
Dr. Lakisha L. Simmons: https://www.lakishasimmons.com
Mariko Gordon: https://www.marikogordon.com
Join us for this enlightening episode as we unleash the secrets to financial freedom. Whether you're a seasoned investor or just starting your journey, this episode offers valuable insights that can help you achieve your financial goals.
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This blog post is brought to you by Runnymede Capital Management, in collaboration with EaglesVision and the Inspired Money live-stream podcast series.
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