How Analyzing Metrics Help Investors Get Good Results-Rich As A King Episode 137

How Analyzing Metrics Help Investors Get Good Results-Rich As A King Episode 137

When playing chess and investing, it’s a good idea to measure your results by looking at performance metrics. But why are metrics important? Find out how measuring performance improves efficiency. If you can measure it, you can improve it! This financial podcast also discusses literacy and its connection with improved living standards in many parts of the... Click for more
What Hindsight Teaches About Investing in the Stock Market – Rich As A King Episode 136

What Hindsight Teaches About Investing in the Stock Market – Rich As A King Episode 136

One of the reasons investing in the stock market is so difficult is because we can’t predict the future.  The trick is to use hindsight to help you determine what will be. While past performance is never a guarantee of future results, if you were able to invest in the stock market 50 years ago, would it have been a worthwhile investment? Take a look at how the world’s economy and standard of living have developed over the past 50 years. When deciding where and how to invest, it’s important to look at the market’s potential and not only at its past. Looking at the potential of every country’s economy is just like how a chess player examines the potential of every... Click for more
How to Win in Chess… and in Personal Finance

How to Win in Chess… and in Personal Finance

What makes a player win in chess? Is there a special, secret formula that always guarantees victory? As chess is a multifaceted game, there’s no one uniform tactic or strategy that works for every single player all the time. Every player has his or her own unique style of play. What works for one player may not work as well for another. However, despite their differences, people who win in chess have one thing in common. What is it? The secret ingredient to make you win Grandmaster Aaron Nimzowitsch said, “Many men, many styles. What is chess style, but the intangible expression of the will to win?” In other words, it’s not enough to memorize dozens of possible chess moves. You need to have the will and determination to win the game. Chances are that in any single game you lose several valuable pieces along the way, and you’ll have to change strategies mid-game. But if you‘re determined and believe you can win, you won’t give up, and will play the game to its end. The will to win also helps you succeed in finance The financial world is similar to the chessboard. While it’s obviously harder to get on your feet after sustaining a financial loss than it is to restart a failed game of chess, you still need the will to win to become a successful investor. The market may have its ups and downs, but don’t give up. If you are determined to “win,” (read: prepare for a financially successful life) you need to keep reassessing your investing strategies and tactics as you go along. As... Click for more
Does a Budget Tracker Really Help Your Bottom Line?

Does a Budget Tracker Really Help Your Bottom Line?

The way you play chess can shed light on how you manage your money. If you are a careful chess player and keep track of your moves, you might find a budgeting tracker a useful tool. In chess, you have a set number of pieces. In order to win, you need to use each piece in the most efficient way that you can. Rather than randomly moving around the board, you need to plan your moves based on the pieces you have available and where they are in relation to your opponent’s pieces. Similarly, when it comes to your monthly budget, you need to look at each dollar you have and use it most efficiently. If you don’t use what you have wisely, you may be left short before you get your next paycheck. If you don’t follow a budget, you won’t know where your money goes. This is why a budget tracker is extremely helpful. It allows you to become organized and methodical with your spending. The best budget trackers help you monitor your expenses, categorize them, and break them down so that you can plan better where to spend your money. Don’t let budgeting intimidate you Sometimes people feel overwhelmed when they first start tracking their expenses. Watching the list of categories where you spend money grow as you go through the month can be quite intimidating. Don’t let this scare you. Once you know exactly where your money is going, you will have a better idea of what you could cut. Budgeting is one of the most efficient ways to make the best use of your... Click for more
The Real Reason to be Financially Optimistic – Rich As A King Episode 131

The Real Reason to be Financially Optimistic – Rich As A King Episode 131

Can you afford to be financially optimistic in today’s volatile market? Susan Polgar’s stories about how she became a chess grandmaster are an inspiring illustration of how optimism can can pave the path to success. Find out why a positive outlook is one of the most useful tools for success, in chess, investing, and in life in... Click for more
The Best Way to Profit From Low Interest Rates– Rich As A King Episode 130

The Best Way to Profit From Low Interest Rates– Rich As A King Episode 130

If you like investing in bonds and other conservative investments, how should you invest when interest rates are low? Low interest rates and high inflation can actually lower the real value of your money if it is invested in bank savings accounts or CDs. So what are your options if you don’t want to take on a high risk (read: potentially high return) investment? Listen to this financial podcast to learn about a strategy that can help you make the best out of your investments during times of low... Click for more