Foundation 11: The Importance of Community for Wealth Building

Wealth Wisdom Financial Podcast

How do you make your investment decisions? Imagine this: 75% of a certain group of investors make their choices based on what their preferred app shows. That's a staggering number, right?

Now, let’s talk about Tony. He’s a young man who faced significant financial struggles because he was isolated and didn’t have the support he needed. Tony’s story underscores the importance of not going it alone when it comes to your finances.=

Think about the spectrum of investors out there. On one end, we have 'zombie investors' who rely entirely on financial advisors. On the other, there are those who are all about the DIY approach. The real trick? Finding a balance between these extremes.

This episode also sheds light on the broader context of social and financial isolation, especially in the post-pandemic world. We’ll share strategies for building a solid money team using the STILL method. It’s all about engaging with trusted individuals and financial professionals to avoid feeling overwhelmed by financial decisions and to create a supportive community around you.

Ready to take ownership of your financial future? Jump into this episode full steam ahead!

00:00 Introduction: The Power of Mobile Trading

00:47 Tony's Financial Journey: A Cautionary Tale

03:37 Understanding Different Types of Investors

05:24 The Importance of Community in Financial Success

10:27 Building Your Money Team with STILL

13:54 FINRA Report Insights: Investor Behavior

Links mentioned in the episode:

• Grab your very own copy of Five Smooth Stones here: https://www.wealthwisdomfp.com/shop (physical and digital versions available)
• Schedule a Discovery Call with us here: https://www.wealthwisdomfp.com/call

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Watch on YouTube here: https://youtu.be/lHIxhuqQAp0

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Conventional financial thinking has left too many people feeling like they should be further along by now. True wealth wisdom brings clarity and purpose on how to make real progress no matter what's happening in the economy or on Wall Street.

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