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Speaker 1: What if some of the biggest mistakes investors can make

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Speaker 1: in twenty twenty six.

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Speaker 2: I wanna be very honest and get back to the

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Speaker 2: old style of how I used to be things and

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Speaker 2: super blunt about it. Number one is not making the

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Speaker 2: decision next year to acquire two or three thousand shares

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Speaker 2: for yourself personally. I know some people are gonna say,

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Speaker 2: I don't have the capital to do it, But find

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Speaker 2: a way, cause I think next year is probably gonna

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Speaker 2: be the most interesting year in investing that we've had,

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Speaker 2: probably since twenty twenty. Number two, double down on what

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Speaker 2: your freedom number is and put a lot of cash

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Speaker 2: into making that a reality. They just told you they're

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Speaker 2: working like crazy. Shout to the interviews y'all got coming out.

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Speaker 2: I won't say nothing, but they're working hard. Magic Johnson

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Speaker 2: told you that invest fest, Gary Ve working hard.

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Speaker 3: Peter two.

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Speaker 2: Every top entrepreneur is busting ass right now, and that's

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Speaker 2: because there's gonna be a seismic change that comes in

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Speaker 2: twenty six and twenty seven. Now's not the time to

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Speaker 2: play or get comfortable with ever success you have accumulated

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Speaker 2: from twenty twenty through now, because you're going to need

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Speaker 2: more than twenty six and twenty seven. Lastly, I will

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Speaker 2: say you gotta block out all the noise. All that

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Speaker 2: noise is online. I would say this, and Rashada and

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Speaker 2: I talked about it on Blackout. Troy does an amazing

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Speaker 2: job of it of staying off social You probably need

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Speaker 2: to spend sixty percent less time on social media. In

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Speaker 2: twenty twenty six, Jake Paul ran up one hundred million

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Speaker 2: and Anthony Joshua ran up ninety but he gotta pay

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Speaker 2: forty five in taxes. These big numbers are being thrown

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Speaker 2: around for a reason. So I'm begging you right now

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Speaker 2: lock in for twenty twenty six, and I want everyone

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Speaker 2: to put in chat. What is your freedom number for

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Speaker 2: twenty twenty six? What do you guys think biggest mistakes are?

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Speaker 2: It's yeah, biggest mistakes.

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Speaker 4: I think trading off a hairsay like it's like that

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Speaker 4: memes stop craze, but a little bit more elevated than that.

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Speaker 3: It's like, yo, I saw this company.

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Speaker 4: I heard them say this company, and let me just

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Speaker 4: invest in it, not really knowing anything from a technical

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Speaker 4: stud like just I'm just doing it. I think a

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Speaker 4: lot of times when people get early success, they think

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Speaker 4: that that short term success can lead into long term

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Speaker 4: wealth strategy, and they start doing things like overtrading, start

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Speaker 4: taking you know, same day options trades, not having any idea,

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Speaker 4: just trying to replicate the feeling of what they had

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Speaker 4: in that short term win. And that's when people lose money.

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Speaker 4: And we're seeing that more and more. And I think

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Speaker 4: if we don't get it right, if we're not disciplined,

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Speaker 4: if we don't have a proper approach, if we don't

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Speaker 4: have a plan, it's only going to get worse. Because

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Speaker 4: and even when talking to Vlad and we're talking about

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Speaker 4: predictive markets, people are treating their brokers account like it's

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Speaker 4: fan duel or it's DraftKings, and it's not. And so

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Speaker 4: you've got to you gotta be disciplined about this, but

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Speaker 4: you actually have to to know.

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Speaker 3: Knowing is important.

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Speaker 4: Like we can overstate it and we can, it's important

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Speaker 4: to know what you're invested in. Yes, get to a

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Speaker 4: thousand shares, let's start with getting to five and understanding

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Speaker 4: what the company you just invested in does, right, Because

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Speaker 4: the more understanding you have, the more education you have

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Speaker 4: around it, the more conviction you have.

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Speaker 3: When people start to doubt what you're saying.

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Speaker 4: I'm only speaking from experience, right, Like literally, you've seen

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Speaker 4: this over the past six year. As we say something,

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Speaker 4: I'm not budgeting on that because I believe in what

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Speaker 4: I'm saying. If it's a great company that doesn't have

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Speaker 4: a great year, fun but a lot of times these

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Speaker 4: are great companies that are having great years because there's

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Speaker 4: conviction education behind that.

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Speaker 3: So be disciplined in it.

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Speaker 4: Don't gossip trade right, really understand what you're doing and why.

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Speaker 2: You're doing it shoddy. What your top mistakes that people

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Speaker 2: can make in twenty twenty.

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Speaker 1: Six, Well, I'm wanting to do something. I actually put

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Speaker 1: together a list of things that people should do.

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Speaker 3: Okay, I love it.

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Speaker 1: Yeah, because I think that that's important to kind of

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Speaker 1: have some level of a blueprint. The biggest mistake I

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Speaker 1: think is not having a plan. So with that being said,

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Speaker 1: I put together ten things I think everybody should do

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Speaker 1: in twenty twenty six. And that's the first thing is

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Speaker 1: put together a budget and a few budgeting apps for

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Speaker 1: you if you're interested. Why inab you need a budget

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Speaker 1: Monarch Money, Rocket Money, Capital Money, every Dollar, pocket Guard,

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Speaker 1: good budget and simplify by Quicken so I mean you

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Speaker 1: could what I used to do is just pin and paper.

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Speaker 3: Yeah right, I think that that's the best way.

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Speaker 1: But if you actually want some level of like digital

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Speaker 1: help in it, those are all sites that you can

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Speaker 1: use or apps that you can use for budgeting.

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Speaker 3: That's the first thing.

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Speaker 1: The second thing is to set up a systematic dollar

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Speaker 1: cost averaging plan to invest every single month, especially if

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Speaker 1: you're first starting out, So whether that's the fifteenth traditional

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Speaker 1: usually it should be around the time you get paid,

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Speaker 1: So if you get paid on the twelfth, then try

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Speaker 1: to do it on the fifteenth. Set up a retirement

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Speaker 1: account if you don't have one, and if you do

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Speaker 1: have one, try to contribute more so you can benefit

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Speaker 1: from the tax savings from that. Review all your beneficiaries,

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Speaker 1: that's important. That's a good one, or not just life insurance,

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Speaker 1: but also even like your bank account and broke Wis

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Speaker 1: account and anything that you have that's going to get

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Speaker 1: passed on to somebody. Review the beneficiaries, keep the beneficiaries

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Speaker 1: updated because you never know. Commit to one. Commit to

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Speaker 1: your education. I recommend one documentary a week and one

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Speaker 1: book every sixty days, so that would be that. I

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Speaker 1: don't think that that's too hard to accomplish, especially you

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Speaker 1: could listen to an audiobook. But the average person, they said,

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Speaker 1: doesn't read any books a year, and I think the

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Speaker 1: average CEO reads like two books a month. So if

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Speaker 1: you start to really dedicate to one book every sixty days,

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Speaker 1: that's six books a year.

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Speaker 3: You're off to a good start.

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Speaker 1: And like I said, the documentary, I think the documentaries

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Speaker 1: they just expand your horizon and have you think a

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Speaker 1: little differently. And there's so many great documentaries that you

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Speaker 1: can just find on YouTube and Netflix. So one documentary

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Speaker 1: a week, one book every sixty days, map out your

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Speaker 1: goal for the next twelve months, but do it in

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Speaker 1: a week. I think everybody should read the book twelve

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Speaker 1: week Year.

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Speaker 3: Yeah, it's a really good book.

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Speaker 1: You don't just map out your goal and just say

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Speaker 1: I want to make one hundred thousand dollars. I want

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Speaker 1: to make five hundred thousand dollars. That's not really a goal,

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Speaker 1: that's a wish. There's actually a systematic way to actually

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Speaker 1: go about that. We've broke this down at EU University,

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Speaker 1: but that book actually explains it how. The purpose of

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Speaker 1: the book is that you break the year into micro

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Speaker 1: years and you have like goals, like weekly goals, bi

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Speaker 1: weekly goals. That helps you get to the goal quicker.

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Speaker 1: And then you actually have to list the action steps

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Speaker 1: of how you're actually going to accomplish the goal, because,

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Speaker 1: like I said, you make I'm gonna make five hundred

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Speaker 1: thousand dollars a year. What does that really mean? That

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Speaker 1: doesn't that that's not a goal, Like I said, that's

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Speaker 1: a wish. You got to actually list out the actionable

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Speaker 1: steps that you need to take to make five hundred

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Speaker 1: thousand dollars a year. Then you got to hold yourself

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Speaker 1: accountable on a short term basis, preferably weekly to see

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Speaker 1: if you're actually hitting those numbers or not. So everybody

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Speaker 1: should should commit to that.

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Speaker 3: We won't have accountability partners in that. Yeah, for sure,