E015: The Power of Community in Building Your Wealth

Today, we discuss the power of community in investing and building your wealth and what role does learning the science of investing play in wealth creation? In the Investor Community - Accountable Equity, we take pride in such an amazing community we’ve created – a community that creates a safe space for people to learn more about investing and explore opportunities, no matter which level you are. Here’s what we talked about: Why community is part of our company name The power of a community The incentives for putting our energies into improving real estate Why you need to learn the science of investing Progress equals happiness Episode Highlights: Adding Community in Investing Investing is a large part of relationships and how those relationships help you identify great opportunities is key. However, the majority of people shy away from investing. But when you have a community of all levels (ex. beginners, mid level, highly sophisticated investors), everyone's going to have an opportunity to be able to relate. It's all about that relatability and connectivity. With a community, you get to grow in a relationship with somebody and pick their brain in a more comfortable setting. It's also important for a community to provide opportunities for people so they feel comfortable coming and listening to presentations. And having a community that provides all those opportunities where everybody can find their comfort zone to learn and grow is important. No one of us is as smart as all of us. When we get into a group of other people and share ideas, we learn together. And we learn together, everybody achieves more. It’s therefore important to have these wealth building conversations that most people really don't have that opportunity. It's a whole interesting phenomena when you realize there are so many things to unlock. ANd having that strong community allows you to build personal relationships where people can trust what you're saying because they know who you are. They respect who you are, and therefore they can trust that what you're saying is true. And that’s where the magic begins. The Concept of Depreciation One of the incentives for putting our energies into improving real estate rather than the government having to deal with all sorts of abandoned assets all over the place is a term called depreciation, in which the asset itself is depreciating. Even though you bought a property, and you have made money on that property, the property itself, on paper, has depreciated. So now, you don't owe anything in taxes on that property because you technically, on paper, lost money, even though you really made money on that property. In other words, you're being incentivized by the government for taking care of those properties. So it's like appreciating from a sales perspective, and depreciating from a tax perspective. The Science of Investing You need to learn the science of investing just like how you learn the science of gravity. You get to learn this through things like podcasts, other successful people, or the community. And if you don't expand your mind, you won't have that opportunity for wealth creation. Links: Investor Community - Accountable Equity

You can listen to E015: The Power of Community in Building Your Wealth online on Radio and Podcast. Open the player on this page to stream the available audio.

E015: The Power of Community in Building Your Wealth is an episode from Wealth Building With Friends by Bob & Usha with Melanie & Josh McCallen.

This episode is 00:38:05 long.

This episode was published on Jun 8, 2021.

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