295- Luck vs. Skill in Investing with Jake Taylor
b'Investing in the stock market does not involve luck or gambling. It requires a strategy and a solid foundation of knowledge.\\nInvesting in anything, especially the stock market, when you don\\u2019t have a concrete strategy can be scary. It\\u2019s a serious journey that shapes your life and can determine whether or not you live a life free from financial burden.\\xa0\\nFor example, if you don\\u2019t have a solid amount of money to retire on in 20 or 30 years from now, the government may not have the funds available to support your lifestyle, which is scary.\\nThat is why it is becoming increasingly important to learn how to invest for yourself. In reality, the only fear of investing you should have is the fear of what you will miss out on if you don\\u2019t invest.\\nYou wouldn\\u2019t jump in the ring without knowing the basics of boxing, so you shouldn\\u2019t jump into the stock market without knowing the basics of investing.\\nBefore you begin building wealth, it\\u2019s important to understand your long-term goals of investing as well as the basic process that you will use to reach those goals. But once you learn the basics, you must constantly stay up-to-date with trends and market updates. The most successful investors in the world are reading and educating themselves on a daily basis.\\xa0\\nIn today\\u2019s podcast, Jake Taylor\\u2014Chief Executive Officer of Farnam Street Investments\\u2014sits down with Danielle to discuss luck vs. skill in investing, and why it\\u2019s important to stay in a growth mindset.\\xa0\\nLearn how to invest and make decisions with confidence with the Rule #1 Cheat Sheet for Smarter Investing. Click here to download: https://bit.ly/3gNe0ub\\nLearn more about your ad choices. Visit megaphone.fm/adchoices'