TIP103: Family Inc. – Running your home finances like a business w/ Doug McCormick

One of the most important steps for new investors to take when starting out is learning the terminology of business.  Without understanding the language of business (which is accounting), individuals will struggle to understand how to find great companies at attractable prices.  This is a topic that our guest, Doug McCormick, has sought to tackle with his book, Family Inc.  For example, if you go to Doug’s website, he has designed free corporate financial statements that teach the user how to apply their personal finances to corporate terminology.

In addition to Doug’s mission of teaching private investing, Preston and Stig talk to him about private equity in the summer of 2016.  They discuss the price disparity between private equity and publicly traded companies.  For many people that don’t have exposure to the private equity, they might find Doug’s comments about expected yields and general investing guidelines to be quite interesting.

In this episode, you’ll learn:

  • How to maximize your family’s wealth
  • How to estimate the value of your education
  • What the future prospects for inflation are and how it influence your family
  • Why owning your own home is a consumption decision and not an investment decision
  • Which asset class that is the least bad right now
  • The difference between the public and private market

Tweet your comments about this episode directly to Preston and Stig using #TIPMoney.

Get The Investor’s Podcast blog posts and podcast episode updates on your Facebook feed by liking We Study Billionaires.

SHARE NOW

Books and Resources Mentioned in this Podcast

Douglas McCormick’s book, Family Inc. – Read reviews of this book

Doug’s website with free financial tools: FamilyInc.com

Mark Steven’s book, King Icahn – Read reviews of this book

Robert Kiyosaki’s book, Rich Dad Poor Dad – Read reviews of this book

Peter Lynch’s book, One Up Wall Street – Read reviews of this book

Elroy Dimson’s book Triumph of the Optimists – Read reviews of this book

Videos That Support this Podcast

MOST POPULAR PODCAST EPISODES

2018-04-22T07:29:02+00:00