Investing the Lazy Way with Chloe Daniels
Apr 04, 2023I am beyond thrilled to be joined by Chloe Daniels, better known as Clo Bare Money Coach on the internet. Whether you're an experienced investor or starting out, Chloe shares valuable insight and a few concrete takeaways in today's show.
Chloe's online journey started by being transparent about her experiences, successes, and failures, through her mental health struggles. As she came out the other side, she realized her next largest hurdle in life was her comfort around money. and investing She educated herself and realized the power that this education possessed and is now on a mission to share how easy it can be with the world.
One of Chloe's tag lines is about investing the lazy way. It's all about taking a hands-off approach that helps you build a diversified portfolio without the stress of constant monitoring. It's easy to fall into the trap of thinking "I don't want to learn", but as individuals responsible for our own futures, it is important to have an open mindset and be willing to learn as a little effort now can save you significant stress and hardship down the road.
I think Chloe's story will resonate with many of you and her unique approach to investing makes it possible for anyone to confidently manage their money.
"It's easy, which I think people stick to. When it's easy, it's effective. But I will say it takes time." - Chloe Daniels
In this episode, you will learn the following:
1. Uncovering the Power of Lazy Investing: Learn how to set up investments so you don't have to work as hard and they're going to do their thing
2. Understanding the Risk of Investing in Individual Companies: Discover how to recognize pump and dump schemes and avoid putting yourself at risk.
3. Becoming Financially Independent: Explore how to manage your money and create a spending plan that you can stick to for long-term financial success.
What you'll hear in this episode:
[0:50] Episode and guest introduction.
[5:18] Where does “Clo Bare”. come from?
[9:22] What are the key things that Chloe helps her clients work with?
[12:08] What does it mean when Chloe says “ Investing the lazy way”?
[19:40} Understanding the difference between someone telling you where to invest your money and actually learning about how to invest your own money.
[22:40] How do you decide who to work with for financial assistance and advice?
[28:35] The importance of having a base level of financial knowledge, regardless of how you choose to manage your money.
[34:00] What does Chloe think about the impact of AI and investing in the future?
[40:20] Where can listeners find more information about Chloe?
Here are some brief snippets from this episode:
[00:04:27]
Chloe Daniels is better known as Clov Bear money coach on the Internet. She focuses on teaching people about investing, specifically investing the lazy way. Part of that is the vulnerability and the journey that adds the credibility and also adds the trust.
[00:09:15]
Chloe's bread and butter right now is taking somebody who knows literally nothing about investing. The other thing that she will be focusing on later this year is adding to the curriculum of just like general money management. She'll be launching a boot camp soon for the money management side of things.
[00:12:07]
The only time we are really rewarded for being lazy is through lazy investing. You can set up your investments to work for you. Research backed that if you are a buy and hold and lazy investor, the chances of you losing money long term almost completely disappear after 15 years.
[00:20:38]
There's so many pump and dump schemes out there. When someone who knows nothing about you is telling you a specific thing that you need to buy, that should be a red flag. Not every investment is right for every person. It's important to get good financial advice.
[00:26:39]
Your financial advisor should want you to understand this stuff. If they don't, then they're probably not the right person for you. We all have a responsibility to do some type of baseline minimal financial education.
[00:30:09]
There are ways to invest that require you to do almost nothing. You can still get the benefit of investing with knowing absolutely nothing about investing. You will probably still be better off than hiring a financial advisor who you don't know what they're doing.
[00:33:52]
With the advent of machine learning and artificial intelligence do you think that the new financial advisor is someone going on chat GPT? There's a certain element of investing in finance that is a science and then a certain amount that's an art. Nothing can substitute a really good education for yourself.
Related episodes:
247: Building a Better Financial Future with Marc Russell of BetterWallet
253: Knowing Your Numbers: Three Key Dimensions Every Entrepreneur Should Focus On
258: Things You Should Not Hire an Accountant to Do
Resources:
Connect with Chloe:
thelazyinvestorscourse.com/guide
Attend The CFO Accelerator Live: https://www.thecfoaccelerator.com/shannon
Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/
Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa
Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so
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See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator
Find me on IG @shannonkweinstein
Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
