Part 2/5:
One of the first mistakes highlighted was the speaker's approach to saving money. At a young age, they demonstrated an ability to save effectively, having hustled doing lawn mowing jobs straight out of high school and during college. However, despite accumulating savings, the speaker admits that they didn’t know how to invest those funds properly.
While saving money is generally perceived as a positive financial habit, the speaker learned that without a clear investment strategy, savings could be rendered ineffective. Parking funds in low-interest options such as certificates of deposit (CDs) or traditional bank accounts yields negligible returns, especially in a rapidly changing economic environment.