EP 045: Our Biggest Financial Regrets (Part 1)

A quality I like about myself is that I’m an action taker.
I’d rather take action and make mistakes than do nothing.

I see so many procrastinators miss out on great opportunities because they are stuck analysing things to be perfect rather than getting it done.

The mindset I like to take in life is “win or learn”… there is no such thing as losing.

However, it would be ignorant of me not to acknowledge this mindset comes with some downsides.

The most notable one…

This speedy action-taking means I have made some incredibly expensive mistakes along the way.

I often have to remind myself I am “learning” at times.

To make the point…

– I once bought a container of products from China without having any idea what “tariffs” were.
I lost a lot of money on that one…

– My first mentor ended up going to jail.
Yep, I should have done more research on him before signing up.

Every time I have made a big mistake, I have found myself saying.
“I wish I knew “X” beforehand.”

Overall I have come out on top, but more diligence would have sometimes served me.

In this week’s episode of the podcast, Grant and I dig into our deepest financial mistakes/regrets.

The point of this episode is to share where we have gone wrong so that you don’t have to make them.

There is no need to repeat the mistakes we have made for you.

PS: This podcast episode ended up being incredibly long so we have broken it up into 2 parts.

This week you get part 1, and next week you get part 2.
Turns out we had a lot to share on this topic.

Also…I’d love to know.

What’s your biggest financial mistake/regret?

Let me know by reaching out through email or on our social media accounts!

All information we share is NOT financial or investment advice and is purely intended for entertainment and educational purposes only. Always seek professional advice before acting on any financial decision.

Episode Highlights:

00:00 Welcome to Business and Investing
01:12 How problems can start out as a “good idea”
05:42 Chasing rapid business growth
10:35 Ideas to slowly scale a business
14:10 Charley’s best lesson from his business regret
15:07 Dealing with opportunity and financial costs in a struggling business
22:31 How paying off a house became a financial mistake
28:35 A different perspective for people who want to build wealth

If you enjoyed this episode, be sure to subscribe, tune in and share this podcast!



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