Info

Mo' Money Podcast | Personal Finance with Jessica Moorhouse

Millennial money expert, Accredited Financial Counsellor Canada® and podcast host Jessica Moorhouse interviews top personal finance & business experts like John Lee Dumas, Chris Guillebeau, Bruce Sellery, Preet Banerjee and Rob Carrick, as well as inspirational entrepreneurs, authors, bloggers, friends and family to help you learn how to manage your money better, make smarter choices, earn more money, become debt-free and live a more fulfilled and balanced life. New episodes air every Wednesday. For helpful resources, blog posts and podcast episode show notes, visit jessicamoorhouse.com. To enquire about being a guest on a future episode, visit jessicamoorhouse.com/podcastsubmissions.
RSS Feed Subscribe in Apple Podcasts
Mo' Money Podcast | Personal Finance with Jessica Moorhouse
2018
June
May
April
March
February
January


2017
December
November
October
September
June
May
April
March
February
January


2016
December
November
October
September
June
May
April
March
February
January


2015
December
November
October
September
August
July
June


All Episodes
Archives
Now displaying: Page 1
Apr 25, 2018

Ever wondered what it's like to work on Wall Street? Then you'll love this episode! I chat with former investment banker Alex Grodnik who worked in the finance industry for almost 10 years, but eventually left to pursue an MBA then become an entrepreneur to live life on his terms.

Beyond sharing what life is like as an investment banker, Alex also shares some great tips on how to invest your money and how to be your authentic self.  

Long description:

I’ve always been curious what it’s like to be an investment banker. I mean, is it really like Wolf of Wall StreetThe Big Short or the classic Wall Street? Or is that all dramatized and it’s really just another office job?

After talking with Alex Grodnik, host of the Wall Street Oasis podcast, I feel like it might be a mix. Alex worked in investment banking for just under a decade, and left to pursue an MBA and start his own business, a fintech startup in LA called Payclub. But before he transitioned into entrepreneurship, he was an analyst at JPMorgan, then moved onto an advising role at Houlihan Lokey. He pursued a career in investing because he was always interested in investing and finance from an early age. But after working in the industry for several years, he realized it wasn’t something that got him excited anymore.

Luckily, he was one of the smart investment bankers and just saved everything he earned (instead of falling victim to lifestyle inflation). Because he lived fairly frugally and saved the majority of his income, he was able to quit, go back to school and have the financial freedom to become an entrepreneur.

In this episode we talk about what life is like for an investment banker and what some of his tips for investing are for regular people like us. Here are some of my favourite tips he shared.

Buy & Never Sell

This isn’t exactly his, tip, it’s one from Warren Buffet, but he shared it and I liked it. Basically, for anyone who is too afraid to invest because they are really risk averse, this is the secret sauce to not losing all your money in the stock market. Buy and hold. As Alex mentioned, you can’t time the market and you’ll probably never buy at the bottom or sell at the top of the market. But, if you buy and hold onto your investments for the longterm, you really can’t go wrong. It’s only when you sell in a panic because you see the markets dipping that you’ll lose money.

Don’t Borrow Money to Invest

I can’t stand articles out there that encourage people to borrow money to invest with because debt is cheap and it’s a bull market. Hey, if you want to take that chance, go ahead. I hope things work out for you. But for the average investor, the smartest thing to do is invest money you actually have, and invest any excess savings or money that comes your way. You got a tax refund? Awesome, invest it. You got an inheritance? Fabulous, invest it. You got a side hustle and don’t know what to do with that extra cash? Invest it!

Answer Truthfully “When Do You Feel Like You Are Your Most Authentic Self?”

I’m not sure if I got the wording on that exact, but this is something Alex asked himself when he felt like he wanted to make a change in his career. I loved how he put it, because I did the same thing when I was considering leaving my job. I asked myself when I felt the most proud and confident in myself, and the answer wasn’t sitting in a cubicle being told what to do by my boss. It was when I was doing my own thing with the podcast, blog and speaking that I felt I was being the me I always wanted to be. So, if you’re in a rut, ask yourself the same thing. When do you feel you are your most authentic self?

For full episode show notes visit https://jessicamoorhouse.com/156

0 Comments
Adding comments is not available at this time.