Where to learn entrepreneurial stuff especially finance terms? Just finished the chapter in the part 7 of TMF.

[jolosd]

I will directly quote the book and realized I lacked technicalities.

"Many perfectly intelligent people lack rudimentary knowledge of basic financial concepts such as:

✓Interest rates
✓Taxable and non-taxable yields
✓Amortization of mortgages
✓The balancing of a check book
✓Basic percentage calculations
✓Calculating return on investment
✓Why stocks rise and fall
✓Why a guaranteed 15% return on a bank CD is screaming, “scam!”
✓How stock options work, such as calls and puts
✓Why insurance exists
✓How a mutual fund works
✓What bonds are and how they rise and fall
✓Global currency"

Where do I learn most of these stuff and others that aren't mentioned? Obviously, I know ROI, leverage etc.. but is there a "concentrated" curriculum, online course, book, or readings and whatnot that I can consume online? Or do I just learn these stuff as I start my ventures. Thanks for the answers.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Oso]

Where do I learn most of these stuff and others that aren't mentioned?

Internet.

is there a "concentrated" curriculum, online course, book, or readings and whatnot that I can consume online?

Yes. See above.

Cheers.

 

[Jobless]

When you see a new word, just GOOGLE it. If you're reading a dense text and don't have time to check, write down unfamiliar words and look them up later.

For learning the CONCEPTS behind words, you pose a question or stage an experiment, like a scientist would. Asking good questions and exploring MULTIPLE SOURCES for answers is the key to self-directed learning. It can be a real scenario or made up. "I have 100K to invest into assets, how can I grow it? What can I buy? Where can I buy it? What's a good strategy? Why is it good? Why does it exist? Who is behind it? Is it safe? What are the pros/cons? Can this theory be tested?" Then you research the questions until your curiosity is satisfied.

Economics is not a scientific field where there are definite answers. It's a SOCIAL SCIENCE. It involves people, risk, basic math, and a lot of unknowns. If someone claims to know the truth, you have to be skeptical.

If you take a course or read a book you will encounter new knowledge, but maybe not what you desire to know, or information that is helpful.

 

[Kevin88660]

I will directly quote the book and realized I lacked technicalities.

"Many perfectly intelligent people lack rudimentary knowledge of basic financial concepts such as:

✓Interest rates
✓Taxable and non-taxable yields
✓Amortization of mortgages
✓The balancing of a check book
✓Basic percentage calculations
✓Calculating return on investment
✓Why stocks rise and fall
✓Why a guaranteed 15% return on a bank CD is screaming, “scam!”
✓How stock options work, such as calls and puts
✓Why insurance exists
✓How a mutual fund works
✓What bonds are and how they rise and fall
✓Global currency"

Where do I learn most of these stuff and others that aren't mentioned? Obviously, I know ROI, leverage etc.. but is there a "concentrated" curriculum, online course, book, or readings and whatnot that I can consume online? Or do I just learn these stuff as I start my ventures. Thanks for the answers.

You only need to know these if your job or business is in the financial space.

I notice in real life, the more you are an expert in such knowledge, the more likely you are not wealthy. Getting distracted by mumbo jumbo.

Wealthy people are business owners who is an expert in their own business sector.

I can give you a crash course of everything you mentioned in 15 minutes, using knowledge at the back of my head. It will add zero value to you reaching your financial freedom.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[jolosd]

You only need to know these if your job or business is in the financial space.

I notice in real life, the more you are an expert in such knowledge, the more likely you are not wealthy. Getting distracted by mumbo jumbo.

Wealthy people are business owners who is an expert in their own business sector.

I can give you a crash course of everything you mentioned in 15 minutes, using knowledge at the back of my head. It will add zero value to you reaching your financial freedom.

yessir ive noticed even my lingo and the people i know whos actually succesful doesnt use much of those but rather delegate. thanks! would still learn tho just for fun

 

[The-J]

I will directly quote the book and realized I lacked technicalities.

"Many perfectly intelligent people lack rudimentary knowledge of basic financial concepts such as:

✓Interest rates
✓Taxable and non-taxable yields
✓Amortization of mortgages
✓The balancing of a check book
✓Basic percentage calculations
✓Calculating return on investment
✓Why stocks rise and fall
✓Why a guaranteed 15% return on a bank CD is screaming, “scam!”
✓How stock options work, such as calls and puts
✓Why insurance exists
✓How a mutual fund works
✓What bonds are and how they rise and fall
✓Global currency"

Where do I learn most of these stuff and others that aren't mentioned? Obviously, I know ROI, leverage etc.. but is there a "concentrated" curriculum, online course, book, or readings and whatnot that I can consume online? Or do I just learn these stuff as I start my ventures. Thanks for the answers.

Investopedia is a great resource, it's written in plain language.

But you don't need to know all of this right now.