In this episode of The Money Scope, we discuss how to build a stable financial platform to launch the rest of your financial life off of. That is key to successfully working towards your goals, weather bumps along the way, and living your best life. Specifically, we reveal how to use your money like a time machine.
Through debt, saving, and investing you can move your lifetime economic value through time. Used well, it will not only smooth the journey, but also help you to grow your wealth overall. Of course, if you mash the controls, just as in any time machine movie – bad stuff can happen.
We’ve got the flux capacitor juiced up with 1.21 Jiggiwatts. So, join us for Episode 5 of The Money Scope to learn how to safely use that kind of power.
“If you earn more or spend less, you’ll be able to pay down debt, save, and invest for future you. It’s all this lifetime income and consumption. It’s just that it happens at different times. But we can use money, debt, and investing to move that economic value through time.”
@benjaminwfelix
“Once we have that solid financial footing, that allows us to take some risk. And investing is what allows us to take that financial wealth and compound it.”
@LoonieDoctor
“Economists would suggest that younger people should borrow to invest in risky assets while they’re young and have low financial wealth.”
@benjaminwfelix
“Long-term commitment is one of those behavioural things that we need to do when we’re investing. If you are going to make a compromise and start investing while in debt, those tax shelter accounts is probably where I’d do it.”
@LoonieDoctor
