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Top Ten Personal Finance Lessons from Joshua Sheats (Episode017)

The DIY Investing Podcast: Value Investing | Fundamental Analysis | Mental Models | Business Management

Release Date: 03/10/2019

In today’s episode, I will be sharing ten of the most important lessons I’ve learned from Joshua Sheats.  These are lessons that apply to personal finance, investing, and beyond.

The Top 10 Personal Finance Lessons I have learned from Joshua Sheats

  1. Conventional advice should not be accepted simply because it’s conventional advice
  2. Conventional advice should also not be rejected simply because it’s conventional advice.
  3. A strategy is more important than tactics. Tactics change over time, but a strategy is enduring.
  4. Action leads to life change. Ideas, learnings, and study are all meaningless if you don’t take action to improve your life.
  5. There is more than one way to become financially successful.
  6. There is more than one definition of success. Don’t simply accept the definition given to you by society.
  7. Don’t compare yourself to others, only your past self.
  8. Personal finance is behavioral, not mathematical. The mathematics is simple and straightforward. Mastering your behavior takes a lot more effort.
  9. You are capable of controlling and curating your desires by what you expose yourself to.
  10. Don’t be afraid of helping others. Sharing of ideas, knowledge, and skills do not less your own worth. It only improves yourself, others, and the world. (Could be a business idea, how to get ahead, etc. ties into action.)

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You can find out more information by listening to episode 11 of this podcast

Show Notes available at DIYInvesting.org

The full show notes for this episode, including my outline for today's podcast, are available at https://www.diyinvesting.org/Episode17

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