James Mungai
Stories (5)
Filter by community
Investing lessons
Meet Ronald Read, a janitor who accumulated a staggering $8 million in savings before his death in 2014. Surprisingly, he didn't win the lottery or inherit this wealth; he achieved it through consistent savings and the wonders of compounding. This inspiring story highlights the notion that financial success is often more about behavior than intelligence. Even without a Harvard diploma or working on Wall Street, anyone can become financially prosperous by adopting sound money habits. Morgan Housel aptly summarizes this concept as "financial success is not a hard science; it's a soft skill, where how you behave is more important than what you know." In the pursuit of financial freedom through stock market investing, let's delve into the top five takeaways from Morgan Housel's book, "The Psychology of Money."
By James Mungai2 years ago in Men
Enhancing Your Financial IQ
Financial literacy is a crucial skill that empowers individuals to make informed decisions about their money, investments, and overall financial well-being. Regrettably, the general consensus is that around 40% of the world's population lacks financial literacy. In developing countries, this percentage soars to nearly 80%, exacerbating financial challenges for millions. Ignorance about personal finance comes with a price - a report from The National Financial Educators Council revealed that 15% of adults faced losses of at least $10,000 in 2022 due to financial illiteracy. To avoid becoming a statistic, it's time to take control of your financial future. Here are 15 actionable steps to increase your financial IQ.
By James Mungai2 years ago in Motivation
The 9 Life-Changing Personal Finance Lessons
In life we often learn valuable lessons from our mistakes, and the realm of personal finance is no exception. Throughout my journey, I have made several financial blunders, but each one has contributed to my understanding of money and wealth. In this video, I want to share with you ten of the most profound personal finance lessons that have transformed my life. These lessons have helped me cultivate a healthier relationship with money, prioritize my financial goals, and build a more secure future.
By James Mungai2 years ago in Motivation
Attaining Financial Stability
Our undesired existence A new generation began in 1985, giving rise to the leading-edge babies who are now in their thirties - the social media generation. We pride ourselves on being unlike any other generation before us, educated, competitive, and tech-savvy. However, this uniqueness comes with a significant weakness - a lack of financial literacy. Understanding money, distinguishing between good and bad debt, comprehending compound interest, and the importance of paying ourselves first remains elusive to many of us. This dearth of knowledge threatens our ability to achieve our dreams, live the life we desire, and retire without the burden of debt.
By James Mungai2 years ago in Motivation
FEELING LIKE A FAILURE ?
Imposter syndrome, also called imposter phenomenon or imposter experience, is a psychological phenomenon where individuals doubt their accomplishments and have an ongoing fear of being exposed as a fraud, despite evidence of their competence and achievements. This common feeling can affect people from different backgrounds, professions, and skill levels. Even highly accomplished individuals, such as Maya Angelou and Albert Einstein, have experienced these self-doubts.
By James Mungai2 years ago in Confessions
