Dec 14, 2020
How a Financial Advisor Invests Their Money - Mike Eklund, Ep #126
Motivated by the new book, How I Invest My Money, I (Mike Eklund) wanted to communicate how I manage my own money. In our recent podcast, we discuss my approach with investments, savings, spending, debt, insurance, and what the money is for (goals). We also review some of my core beliefs which include:
* Spend less then you earn
* Automate savings, investing, and anything else that you can
* Invest the majority of portfolio in growth assets (stocks)
* Spend money on experiences, relationships and to save time
* Insure against big risks (life/disability)
* Avoid high-cost debt
* Keep it simple. Complicated is the enemy for most individuals.
Near the end of the podcast, we discuss one of the best investments I’ve ever made. As a married father of four kids, it is our purchase of a lake cabin where we create many family memories. This investment return is determined based on actual experiences as they far outweigh any financial return.
Finally, we finish with what the m…