Regardless of your age, it's never too late to start investing and my guest today Andy Wang, the host of the Inspired Money Podcast and co-owner of the financial management company Runnymede Capital Management explains why. He also is a huge advocate on buying local, and he has created a movement Buy Local New Jersey, which he is using to help grow his own business.
On this episode we discuss:
5:30 - What a financial management company does.
6:15 - The earlier you get started investing, the better. Time and compound growth are your best friends.
7:20 - Where to start with investing: Keep it as simple as possible.
10:30 - Why Andy started the Inspired Money Podcast and how it helps drive traffic to his website.
He uses the podcast to:
- Address client questions
- Discuss what is money all about
- What inspires people
- Why we don't talk about money enough
13:45 - Why you should TRACK your spending instead of creating a BUDGET. When you track something you will want to make constant improvements
"When you know where you spend your money it actually frees you, it does not confine you".
22:10 - His invest philosophy: You want to look for companies that are making money. Earnings and stock prices should be going up. You want to look for solid companies that are growing their earnings year after year.
30:10 - The importance of leadership in the right positions within a company.
31:20 - BUYING LOCAL: Recycling of money within the community creates new jobs and supports the community.
39:25 - How buying local ties back to their website
43:05 - You learn by doing.
43:40 - NICHE DOWN: The importance of starting small and from there you can grow.
47:40 - How podcasting builds business connections.
Monday Morning Tip
Don't watch the news because it's so sensationalised. Instead, be intentional and deliberate with what you're doing and make an effort to filter out the noise.
"Do one thing each day that scares you, and you will make significant changes in your life"
If you have any questions about this podcast episode, please contact me at , or you can connect with Andy Wang at Runnymede Financial Management.
You can also connect with Andy Wang on LinkedIn
If you're a podiatrist, or a person that's open to new ideas and like to think outside the box, check out the Podiatry Legends Podcast.
First 16 Pages of My Book – It’s No Secret There’s Money in Small Business.
If you're a Podiatrist you may prefer to order my first book; It's No Secret There's Money In Podiatry.