Get Rich Quick Schemes Vs. Investments with Justin Donald - a podcast by Chris Parker

from 2022-03-16T10:00:27

:: ::

Many people have lost money trying to grow their wealth, but how do you know when an investment is too good to be true? Today’s guest is Justin Donald. Justin is the host of the Lifestyle Investor Podcast and author of the bestselling book Lifestyle Investor: The Ten Commandments of Cash Flow Investing for Passive Income and Financial Freedom. He consults and advises entrepreneurs, executives, and successful media personalities on lifestyle living. Justin has also appeared on nearly 100 podcasts including Entrepreneurs on Fire, The Mike Dillard Show, Making Bank, The Accelerated Investor, and Unbecoming.

Show Notes:

[1:02] - Through his company Lifestyle Investor, Justin teaches others how to create a lifestyle that is compelling and purposeful.
[3:31] - Justin’s mission is to help people buy their time back.
[4:34] - In many cases, people have lost millions of dollars in poor investment decisions.
[5:51] - If you want to build wealth, you need to have a strong ecosystem.
[6:53] - A lot of people in financial services are not in alignment with their clients and the system is manipulative.
[8:40] - Justin didn’t start out asking specific questions and now he always asks those in financial services.
[10:02] - You have to do your own work and math to make sure things are not manipulated.
[11:10] - There are incredible opportunities to make money but also to lose money. Not all projects are the same.
[13:10] - ICOs are super high risk and Justin advises to avoid them.
[14:11] - If something is guaranteeing returns, it’s a red flag. There’s always some form of risk.
[15:26] - Justin admits that he has lost money in situations where he didn’t see the signs in time.
[17:49] - There are some red flags to look for and Justin shares some examples.
[21:42] - Having cash flow is important first and then investing becomes safer.
[23:29] - Almost every business partnership is going to end at some time and 90% or more of them end poorly.
[25:58] - Always have open conversations and express concerns when making decisions.
[27:56] - Justin also advises to be careful that you aren’t buying another job and you are looking for passive income.
[30:51] - What is a targeted return?
[32:13] - Don’t be lured in by a good targeted return. Justin advises on what to look at instead.
[34:38] - You want to know how your investments will do if things don’t go according to plan.
[36:17] - Justin gives an example to illustrate how returns work.
[37:50] - Justin is offering his book free to listeners by going to his website LifestyleInvestorBook.com.

Thanks for joining us on Easy Prey. Be sure to subscribe to our podcast on iTunes and leave a nice review.

Links and Resources:

Further episodes of Easy Prey

Further podcasts by Chris Parker

Website of Chris Parker