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Episode Summary
Krisstina welcomes to the podcast self-made millionaire, financial writer, and co-founder of Future Money Trends, Daniel Ameduri. Holding a very specific view of finance, Daniel is an advocate for financial independence and believes that it is an attainable and worthwhile endeavor. He equates financial independence to the freedom to live the life you want to live. Daniel is constantly searching for future financial trends and is currently researching and investing in the fields of cryptocurrency and cannabis.
In this episode, we talk about wealth preservation and breaking from conventional norms to achieve financial independence. Daniel and Krisstina both share the view that passive income streams are necessary to achieve and sustain financial independence. Daniel recalls his firsthand experience with achieving wealth, losing it in a financial collapse, and struggling to earn it all back. This included a complete and total shift in Daniel’s lifestyle. He details the process by which he graduated from financial stability to financial independence and, eventually, to a liquid millionaire net worth. Finally, Daniel gives advice to financially independent individuals who are looking to invest their money wisely.
Youtube Link: https://youtu.be/N95WEFHoW2I
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You can also click on the time stamps below to jump to those specific points in the conversation.
What We Covered
- [01:20] – Krisstina welcomes Daniel to the podcast
- [03:30] – Daniel’s financial background
- [06:53] – Krisstina and Daniel discuss financial myths
- [08:42] – Daniel’s mindset behind taking an unconventional financial route
- [10:19] – How Daniel was impacted by the financial crisis of 2008
- [14:42] – How Daniel recovered financially after feeling defeated
- [20:30] – The importance of changing lifestyles to match your financial situation
- [23:45] – Daniel’s thoughts on why people are so resistant to change their lifestyles
- [27:18] – Why wealth and financial independence is a choice
- [28:57] – The mindset necessary to achieve financial independence
- [33:22] – Daniel’s definition of rich
- [39:05] – Future financial trends Daniel sees on the horizon
- [40:20] – Bitcoin and other cryptocurrencies
- [41:59] – Daniel’s thoughts on real estate
- [43:06] – Daniel’s views on 401(k)s, IRAs, and other traditional retirement investment strategies
- [45:37] – Advice for financially independent investors
- [47:25] – Final thoughts from Daniel
- [48:33] – Daniel debunks the myth that you make money by trading stocks
Tweetables
[Tweet “Retirement is an experiment. Perhaps the people who have successfully retired are the exception to the rule if you look at the data.”]
[Tweet “I’m not really trying to triple my money. I’m just trying to preserve it.”]
[Tweet “I just like to be around those type of people. I don’t care if they’re broke or worth a million dollars. They’re trying to break out and I just love those people.”]
[Tweet “It really is a choice, right? Ultimately, it’s a decision you have to make. You have to choose to be wealthy; choose to be rich. And then you’ve got to stick with it.”]
[Tweet “The money is the tool. The wealth is the time.”]
[Tweet “If you make $100,000 a year but you have no mortgage, that’s like making $140,000 a year.”]
[Tweet “Most of my investments I’m really focused on wealth preservation.”]
Links Mentioned
Get a free copy of Krisstina’s new book “Falling For Money” here
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Music custom created and licensed by JAMSPOT Sync Music Productions.
