it is important to know your investment goals and what sort of returns you aim for. It is easy to find constant low risk investments options that keep up with or slightly pass inflation, but anything above that comes at the cost of more risk. Are you a fundamental or technical guy? Day trader, swing trader, buy and hold? Are you willing to take safer lower investment income over riskier higher income? Do you believe in market indicators? Can you recognize if you are investing out of greed, or if you are investing with a plan and purpose with stops put in place? That all takes time to learn and we all know that the economy and the markets are not the same thing.
@@harrisahmed3066 My FA’s method is to buy quality firms, anticipate to hold them regardless of what happens, pay up but not too much, keep track, sell only when necessary, and be ready to course correct, use this and you’d make half a mil in a year like I did
I recently got into stocks, and I don't mind putting down a substantial investment; I'm seeking to create a portfolio like this. Do you work with novices like myself who are willing to invest, I would want to know. Can you leave me your FA if so?
Great pod! Sam, you don’t have to answer if not comfortable but i was very curious to know (when you were talking about your different accounts), what the cash to stock split was in the hubspot acquisition, or at least what it generally tends to be in these sort of deals.
Love this pod. I’ve made a lot of money in tech myself (via 2 IPOs where i was mid-level employee) and agree with putting the majority into “traditional/boring” ETFs….and letting it ride for the long term. Leave like 20% for private/riskier investments. At the same time, don’t skimp on life experiences (esp travel) and a few toys like a nice car.
Great episode. Felt like Shaan was onto something larger with his breakdown on content businesses and the path to monetization/scalable profitability. Love to hear more.
Great pod! Shaan is actually more risk averse than what I thought initially. Different perspectives from both and I love how you never argued about your approaches to your finances. Just gentle nudges from both ends when there was a slight disagreement.
I am my safety net. That is an absolute banger, and exactly my mindset. But, I didn’t grow up with money, and I’m still climbing so that might actually be a problem 😂🤣
Yes, very useful! Useful enough for me to stop what i'm doing to leave a comment in hopes the engagement will help others find it, and they themselves find it useful! I like analyzing the way successful people think! Thanks Brian
I think you should do these types of episodes as well, really interesting and you get to learn a lot too. Ps I have a macroeconomics exam to study for but this episode was so engaging that I just couldn't pause it and study for my exam haha
This episode was effin fire. It confirmed quite a few of my current approaches to personal income, as well as opened my mind to others. I will admit that I had (and still have to an extent) the same mindset as Sam. However, I’m slowly moving toward Shaan’s mindset in terms of seeing money for the tool that it is. Great show, gents.
Actually one of my favorite episodes. Love it when y'all talk actual numbers and how you do certain things that people don't talk about much. Would love to hear about how you manage multiple projects/businesses at once, systems you have, etc.
On the Aunt being into BTC = sell comment - I know a very successful investor who closes all his positions when he hears a bartender at one of his restaurants talk about investing, and over the course of decades this has served him well.
Superbtastical episode!!! Would you guys mind sharing more or less what you spend $25k-$30k on per month or like what percentage goes to mortgage, groceries, cars etc.? I spend like $6k a month on my living expenses and you guys have friends that spend $80k-$300k a month but on what?!?
Like two sloppy jewel thieves, MFM is always dropping gems.💎🤣💯… Crazy how simple topics can have so much depth…The “Lindy Effect” piece had my wheels turning big time. Nassim Taleb has a dope book called ‘Antifragile’ that explores deeper..Just ordered it from Prime for around 14 bucks. Reviews look great.👍🏼.. Cant wait to delve deeper into the concepts..Love y’all fam. Peace and blessing as always.💯💯
That sell-me-a-pen thing is great. If you keep swinging and missing, they'll give you another chance. The trick is to ask questions. "Hey there. I'm James. What's your name? It's great to meet you. What are you looking for in software?" You tailor what you say to their responses. Marketing is the shotgun approach. You send out a bunch of flyers with an imaginary client in mind, and get a small percent conversion. Sales is the personal approach. You sell the person standing in front of you. They will tell you what they're looking for. You simply solve the problem for them. You use as much of what they give you as you can, and minimize your high-pressure type tactics to only when absolutely needed. You can't brute force someone into buying a watch.
Please make more episodes like this. This is big for someone like me looking at an exit from the business I built. Making the business and growing the business are done, now let's talk next steps.
This reminds me of the advice you guys gave focus on things you are an expert at... Business building vs private business investing vs public business investing vs personal finance...
During covid in march 2020, my roommate put 3,200 into TSLA leaps in his IRA and and turned it into $522,000. I am so happy i didnt follow his play FML
Really liked this episode! Would have been a lot more impactful / interesting if you have actual $ amounts behind them as well, even if it was just rough estimates. Like having $5m as your safety net that you aren't touching is very different to $100m
My investing is exactly like Shaans. I sold Tesla right after they annouced the cybertruck and lost out on millions. I'm great at buying at the top and selling at the bottom lol
I have the exact psychological issue with money. My goal was to get enough money to buy freedom, or at least allow me to build a business (not do what other people tell me to do). I've reached a financial milestone that will allow me to quit my job and build the business, but I'm terrified. I've lived below my means for many years which allowed me to save up a lot of money, but now that I have all of this money, I don't know how to use it to make more money.
Nice this was awesome, people should talk about personal finances more! The part about prioritizing your main goal really resonates with me! So guilty of being distracted! Thanks guys!!
other thing is that your style of podcasting is very unique. I had love&hate relationship with your videos during the first 5 hours of watching. Your style is very raw and direct, it was something odd and refreshing :D I had to adapt my brain to receive your frequency and here I am, long-term die hard fan :DDD no other business pod offers so much humour
The founders of Twitch kind of had a similar story. They did get funding from Y Combinator, but still they had a similar story like Sam. I follow all those guys. Justin is cool, I follow most of his social media’s .
Love MFM!! HUGE fan! PS. Does anybody else get a little bothered by Shaan's interruptions (sometimes) when Sam is speaking? I see this in almost every episode. Is it just me?
Love the money talks here. I've been a listener for about a year. For context: I'm a Brazilian who lived 15 years in Ireland and I'm now in SF (would love to connect Shaan!) P.S Im connected to Sam and met his community manager from Hampton (small world)
@My First Million You guys are awesome! I first came across your channel about a year ago when you did the "How To Make $15,000/Month With A Vending Machine Business" video. Since then I have been hooked and listen to almost all your videos and most of the time I end up listening until the end. I love the fact I can just listen to what you two both have to say and all the business advice you give while I drive to source product or work on my ship outs for my ebay store. Pleaseee keep up the great work and videos!!!! PSA.....GIVE US MORE VIDEOS WITH ROB DYRDEK AND MR BEASTS!!! :)
Always worth noting that somebody with a ton more money does perhaps makes more sense than somebody of more moderate means: 10+ million means you can take some high risks with zero liquidity (same perhaps with seeing the principal again) or alternatively you can just put the money in some of the most boring "risk-free" places.
Life insurance is really death insurance so what’s the real life insurance? Annuity’s pay you till you die. It’s basically private social security. If you know it’ll never get turned off you might feel better about spending it.
I really enjoyed this episode, as a person that’s been in the financial industry for a while, I’ll leaned toward Sam’s side, but I understand Shaan. One reason that Sam’s way works is that it accounts for one thing that you guys didn’t talk about that you laughed at Buffet for. When Buffet talks about the long play now, he means “legacy”. Life is great now, but what will you leave for the kids to take the patan and run with. I’m okay with being as conservative as Sam because I’m not doing it for me anymore, I’m doing it for my two kids. I’m curious on how both your plans incorporate legacy and how what you build now will live past both of you, or is that not a concern now?
Since Shaan says he reads all of the YT comments, Shaan, please give my deepest apologies to Sam. I got tricked by an imposter in your comments, and since I saw the comment in my e-mail inbox I didn't realize he was an imposter. I have since reported the imposter. I feel like a complete heel and am deeply sorry. Sam is an incredible gentleman to be so nice about what from his perspective must have been an gross invasion of privacy in the middle of the night. Please understand that from my perspective I only did what I believed I was asked to do.
Sam and Shaan, get some estate planning done! Do the low hanging fruit: wills and revocable trusts, and also update bank accounts to Pay/Transfer On Death (POD) to your spouses! Same with naming spouse as contingent beneficiary on 401k! And fund your trusts!
I think money stored up and not spent = power potential. Imagine the power of knowing you have $50M to deploy wherever you want, but don’t. As soon as you do, that power potential is gone.
Loved this as a "once in a while episode". Super interesting but if this was more than every 6 months or so I think it would lose its appeal. Overall amazing episode though, I used to very strongly disagree with Shaan on investments but I get his point now, even if I still disagree with it.
One my fav episodes, truthfully. You covered so much more than just personal finance. I feel like I just downloaded from 10 mentors and gurus in 55 mins. Super!
it is important to know your investment goals and what sort of returns you aim for. It is easy to find constant low risk investments options that keep up with or slightly pass inflation, but anything above that comes at the cost of more risk. Are you a fundamental or technical guy? Day trader, swing trader, buy and hold? Are you willing to take safer lower investment income over riskier higher income? Do you believe in market indicators? Can you recognize if you are investing out of greed, or if you are investing with a plan and purpose with stops put in place? That all takes time to learn and we all know that the economy and the markets are not the same thing.
You seem knowledgeable… any recommendations ?
@@harrisahmed3066 My FA’s method is to buy quality firms, anticipate to hold them regardless of what happens, pay up but not too much, keep track, sell only when necessary, and be ready to course correct, use this and you’d make half a mil in a year like I did
I recently got into stocks, and I don't mind putting down a substantial investment; I'm seeking to create a portfolio like this. Do you work with novices like myself who are willing to invest, I would want to know. Can you leave me your FA if so?
ÁwÁ
Great pod! Sam, you don’t have to answer if not comfortable but i was very curious to know (when you were talking about your different accounts), what the cash to stock split was in the hubspot acquisition, or at least what it generally tends to be in these sort of deals.
What’s the broker you are using. What are long tail risks? E.g. broker going bust?
EXCELENTE
When is Syed coming on ?
Here so early wowsers - hello from UK
6th!
Let's go early today haha
Thinking the same thing!
@@AlaskaJiuJitsu never get on this early almost was at No 1 but the video didn't load up for me
Sam”most people listening to this, have a higher income”. Me with $3 in my saving and $2 in my checking😂😂
But you NEVER touch your savings. #SlowFIRE
Only up from here 🫡
@@TheRacerRich lol, are you advising him not to touch his 5.00 emergency fund.
@@beatricerights It's best, you never know when you gotta have a wawa.
This was perhaps one of your top 3 best episodes.
Agreed! More of these!
Invest the first derivative. Spend the second derivative. Brilliantly said.
Shaan, but what if you're not smart or wise 👀 ... RIP loooool
Indian Aunties know best
🤣🤣🤣
This was one of the best episodes ever. Rare conversation. Thanks for the insights.
mehh
Love this pod. I’ve made a lot of money in tech myself (via 2 IPOs where i was mid-level employee) and agree with putting the majority into “traditional/boring” ETFs….and letting it ride for the long term. Leave like 20% for private/riskier investments. At the same time, don’t skimp on life experiences (esp travel) and a few toys like a nice car.
Let’s make it back all those lost you did with my product idea🎉🎉🎉 give me a chance
Historically, the average Empire has lasted 250 years.
Great episode. Felt like Shaan was onto something larger with his breakdown on content businesses and the path to monetization/scalable profitability. Love to hear more.
Sam, would you invest $20 million in any one company?
Why do you leave ALL of your huge payout in hubspot stock? It doesn't make any sense.
Tesla is like Cloudflare Stock. Most people don't understand it. Anyway great podcast!
Great pod! Shaan is actually more risk averse than what I thought initially. Different perspectives from both and I love how you never argued about your approaches to your finances. Just gentle nudges from both ends when there was a slight disagreement.
I am my safety net. That is an absolute banger, and exactly my mindset. But, I didn’t grow up with money, and I’m still climbing so that might actually be a problem 😂🤣
What a roller coaster ride. Especially when you guys have such significant stakes.
I am human optimization? nah
I AM THE SAFETY NET. It's Me O'Clock baby!
Yes, very useful! Useful enough for me to stop what i'm doing to leave a comment in hopes the engagement will help others find it, and they themselves find it useful! I like analyzing the way successful people think! Thanks Brian
I think you should do these types of episodes as well, really interesting and you get to learn a lot too. Ps I have a macroeconomics exam to study for but this episode was so engaging that I just couldn't pause it and study for my exam haha
This episode was effin fire. It confirmed quite a few of my current approaches to personal income, as well as opened my mind to others. I will admit that I had (and still have to an extent) the same mindset as Sam. However, I’m slowly moving toward Shaan’s mindset in terms of seeing money for the tool that it is. Great show, gents.
Actually one of my favorite episodes. Love it when y'all talk actual numbers and how you do certain things that people don't talk about much. Would love to hear about how you manage multiple projects/businesses at once, systems you have, etc.
On the Aunt being into BTC = sell comment - I know a very successful investor who closes all his positions when he hears a bartender at one of his restaurants talk about investing, and over the course of decades this has served him well.
Superbtastical episode!!! Would you guys mind sharing more or less what you spend $25k-$30k on per month or like what percentage goes to mortgage, groceries, cars etc.? I spend like $6k a month on my living expenses and you guys have friends that spend $80k-$300k a month but on what?!?
okay Puri---suns out guns out---trainer is working out well
Like two sloppy jewel thieves, MFM is always dropping gems.💎🤣💯… Crazy how simple topics can have so much depth…The “Lindy Effect” piece had my wheels turning big time. Nassim Taleb has a dope book called ‘Antifragile’ that explores deeper..Just ordered it from Prime for around 14 bucks. Reviews look great.👍🏼.. Cant wait to delve deeper into the concepts..Love y’all fam. Peace and blessing as always.💯💯
"Like two sloppy jewel thieves, MFM is always dropping gems." - stealing this.
lots of gold nuggets in this episode...thanks for sharing!
First
That sell-me-a-pen thing is great. If you keep swinging and missing, they'll give you another chance. The trick is to ask questions. "Hey there. I'm James. What's your name? It's great to meet you. What are you looking for in software?" You tailor what you say to their responses. Marketing is the shotgun approach. You send out a bunch of flyers with an imaginary client in mind, and get a small percent conversion. Sales is the personal approach. You sell the person standing in front of you. They will tell you what they're looking for. You simply solve the problem for them. You use as much of what they give you as you can, and minimize your high-pressure type tactics to only when absolutely needed. You can't brute force someone into buying a watch.
Please make more episodes like this. This is big for someone like me looking at an exit from the business I built. Making the business and growing the business are done, now let's talk next steps.
This reminds me of the advice you guys gave focus on things you are an expert at... Business building vs private business investing vs public business investing vs personal finance...
This was fun, and I really like how you insert business conversation into this episode!
ALL TIME hall of fame episode right here.
I like G Wagon✨😉👍
This was kind if stealing my idea for a podcast. “My Second Million”
17:45 this whole thing is hilarious 😂
During covid in march 2020, my roommate put 3,200 into TSLA leaps in his IRA and and turned it into $522,000. I am so happy i didnt follow his play FML
One thing I would like to hear is similar to this but at a smaller scale like how to get to 1M from 10k for example :)
This was really great. Thank you Sam for the transparency. Would be really interesting to have these same conversations with guests.
Really liked this episode! Would have been a lot more impactful / interesting if you have actual $ amounts behind them as well, even if it was just rough estimates. Like having $5m as your safety net that you aren't touching is very different to $100m
Thanks for sharing! This was awesome
Thought this one was dope
Great episode---you need to get Morgan Housel on the pod---he would be a great adjunct to this episode
My investing is exactly like Shaans. I sold Tesla right after they annouced the cybertruck and lost out on millions. I'm great at buying at the top and selling at the bottom lol
Lol. You better get out of that airbnb position.
why
I’m offended by the Persian comment Shaan. Gonna stop listening and go wash my white BMW now 😂😂😂 jk obvi
That’s funny ! That’s exactly how I made myself by a Tesla this month. It made financial sense while still wearing a ripped gym shirt 😂😂😂
Love this pod, fellas. I battle the benefits of cash flow vs. selling my biz all the time. Cool to hear both of your perspectives on it.
Shaan, now that Sam has gone we need your investment portfolio breakdown next!
I have the exact psychological issue with money. My goal was to get enough money to buy freedom, or at least allow me to build a business (not do what other people tell me to do). I've reached a financial milestone that will allow me to quit my job and build the business, but I'm terrified. I've lived below my means for many years which allowed me to save up a lot of money, but now that I have all of this money, I don't know how to use it to make more money.
Props on the transparency 👏knowledge gained, now I just need to sell my company...
Nice this was awesome, people should talk about personal finances more! The part about prioritizing your main goal really resonates with me! So guilty of being distracted! Thanks guys!!
This episode was fire, Really enjoyed. So Sam has got a sugar mommy so who does household work !? I guess I know the answer.
Love this episode, guys. Seeing how folks structure their portfolios and understanding general financial philosophy is really excellent.
I like the indirect friend intervention by using lessons of the story on the pod 😂
Keep buying NVDA (AI trend) and FB (elections)
other thing is that your style of podcasting is very unique. I had love&hate relationship with your videos during the first 5 hours of watching. Your style is very raw and direct, it was something odd and refreshing :D I had to adapt my brain to receive your frequency and here I am, long-term die hard fan :DDD no other business pod offers so much humour
can you guys talk about your sources of information? how do you find new products or services?
The way shaan talks about himself, it’s surprising that we’re still listening to him
800$/month for 80 years? How much was that diamond ring LOL?
Brilliant episode!
I hope that dude with the 40 gas stations doesn't have to raise 40 kids xD
The founders of Twitch kind of had a similar story. They did get funding from Y Combinator, but still they had a similar story like Sam. I follow all those guys. Justin is cool, I follow most of his social media’s .
🔥🔥🔥
Dude My first million says 50 million or below is worth zero?????
Love MFM!! HUGE fan!
PS. Does anybody else get a little bothered by Shaan's interruptions (sometimes) when Sam is speaking? I see this in almost every episode. Is it just me?
The breakdown of the Stripe interview was hilarious, great pod as usual lads!
Great episode.. I’m like Sam but trying to be more like Shaan
Personal finance stuff was definitely intresting and useful
Have you guys ever reviewed listener portfolios?
Great stuff guys... you're rich... I love transparency. It's helpful to hear real numbers or approx... thats great. Luv you, you're awesome. M
Love the money talks here. I've been a listener for about a year. For context: I'm a Brazilian who lived 15 years in Ireland and I'm now in SF (would love to connect Shaan!)
P.S Im connected to Sam and met his community manager from Hampton (small world)
lol this one was funny, great job.
Yep, totaling up quarterly is often enough for me, but I'm still in the growth stage so risk ON
@My First Million You guys are awesome! I first came across your channel about a year ago when you did the "How To Make $15,000/Month With A Vending Machine Business" video. Since then I have been hooked and listen to almost all your videos and most of the time I end up listening until the end. I love the fact I can just listen to what you two both have to say and all the business advice you give while I drive to source product or work on my ship outs for my ebay store. Pleaseee keep up the great work and videos!!!! PSA.....GIVE US MORE VIDEOS WITH ROB DYRDEK AND MR BEASTS!!! :)
Great episode! The Psychology of Money (Housel) and Essentialism (McKeown) are great books that complement these ideas
Always worth noting that somebody with a ton more money does perhaps makes more sense than somebody of more moderate means: 10+ million means you can take some high risks with zero liquidity (same perhaps with seeing the principal again) or alternatively you can just put the money in some of the most boring "risk-free" places.
Life insurance is really death insurance so what’s the real life insurance? Annuity’s pay you till you die. It’s basically private social security. If you know it’ll never get turned off you might feel better about spending it.
41:40 Funny how? Funny like a clown?
I really enjoyed this episode, as a person that’s been in the financial industry for a while, I’ll leaned toward Sam’s side, but I understand Shaan. One reason that Sam’s way works is that it accounts for one thing that you guys didn’t talk about that you laughed at Buffet for. When Buffet talks about the long play now, he means “legacy”. Life is great now, but what will you leave for the kids to take the patan and run with. I’m okay with being as conservative as Sam because I’m not doing it for me anymore, I’m doing it for my two kids. I’m curious on how both your plans incorporate legacy and how what you build now will live past both of you, or is that not a concern now?
@Shaan and Sam, you both spend about 30k/mo... Can you break this down in the next episode?
Since Shaan says he reads all of the YT comments, Shaan, please give my deepest apologies to Sam. I got tricked by an imposter in your comments, and since I saw the comment in my e-mail inbox I didn't realize he was an imposter. I have since reported the imposter. I feel like a complete heel and am deeply sorry. Sam is an incredible gentleman to be so nice about what from his perspective must have been an gross invasion of privacy in the middle of the night. Please understand that from my perspective I only did what I believed I was asked to do.
Sam and Shaan, get some estate planning done!
Do the low hanging fruit: wills and revocable trusts, and also update bank accounts to Pay/Transfer On Death (POD) to your spouses! Same with naming spouse as contingent beneficiary on 401k!
And fund your trusts!
Hey Shaan do you think your investment return over the last 10 years, not counting businesses you’ve started, is it > 0%?
This is amazing! I really wanted to here something like that. Thanks I wish it will be more stuff about personal investments
Plaz mention guys (friend) that you two talking about. It's give as context.
I think money stored up and not spent = power potential. Imagine the power of knowing you have $50M to deploy wherever you want, but don’t. As soon as you do, that power potential is gone.
First here
Loved this as a "once in a while episode". Super interesting but if this was more than every 6 months or so I think it would lose its appeal.
Overall amazing episode though, I used to very strongly disagree with Shaan on investments but I get his point now, even if I still disagree with it.
Thanks for breaking this down. It’s interesting to hear how you seek out investments, especially from a conservative and more risky viewpoint.
Can you guys breakdown a gas station investment in a future episode? Would love to hear a deep dive on one of those deals.
One my fav episodes, truthfully. You covered so much more than just personal finance. I feel like I just downloaded from 10 mentors and gurus in 55 mins. Super!
46:30 confirmation bias runs the world. Cognitive dissonance daily!
Hey, have you ever considered having Angel Investments in other countries?
Which platform would you advise to get started in buying stocks