Apply Your Greatest Weapon — Creative Thinking
I was honored to be on the "My Worst Investment Ever" podcast with host Andrew Stotz. We discuss why buying homes has been "my worst investment ever" and why you should apply your greatest weapon — creative thinking — in times of peril or uncertainty.
BIO: Curt Mercadante specializes in helping business owners deliver the right message to the right clients to generate the right revenue.
STORY: Curt grew up knowing that owning a home is an important investment that everyone should have. Over the years, and after a couple of losses, he has learned that a home is not an investment unless you’re planning on flipping it.
LEARNING: Don’t just take advice at face value, do your research and get second opinions. Don’t fall for the American Dream fallacy; rent if that’s what you want.
Worst investment ever
Over the years, Curt has owned several homes, and he viewed them as investments all along. His financial advisor would often advise him not to look at houses as an investment. Still, because of how he was brought up and the fallacy of the American dream, Curt always believed owning a home was the best investment. After making a couple of losses buying homes, Curt now believes his financial advisor.
Our habits are influenced by our societal conditioning, which can be dangerous.
A lot of the security we have is an illusion. Step back, have some discernment and awareness, and start asking yourself why you do what you do—question your conditioning.
Don’t be caught up in the American Dream fallacy.
Buying a home is not always the best option; sometimes renting is.
Don’t just take things at face value just because someone you know said it, or someone on TV said it, or some experts somewhere said it. Do your homework and get a second opinion. Also, remember to apply your greatest weapon—creative thinking.
No. 1 goal for the next 12 months
Curt’s number one goal for the next 12 months is to unleash his creative flow on a regular basis.
“When the world is burning around you, keep your head above water. Think creatively, and you won’t go wrong.” — Curt Mercadante
About Andrew and the Show
The "My Worst Investment Ever" is podcast hosted by Your Worst Podcast Host, Andrew Stotz, where you will hear stories of loss to keep you winning. In our community, we know that to win in investing you must take the risk, but to win big, you’ve got to reduce it. Your Worst Podcast Host, Andrew Stotz, Ph.D., CFA, is also the CEO of A. Stotz Investment Research and A. Stotz Academy, which helps people create, grow, measure, and protect their wealth.
Andrew’s online programs
Valuation Master Class
How to Start Building Your Wealth Investing in the Stock Market
Finance Made Ridiculously Simple
Become a Great Presenter and Increase Your Influence
Transform Your Business with Dr. Deming’s 14 Points