243. An Insight Into Effective Investment Strategies with Erik Smolinski

Average Joe Finances

In the investment world, versatility is key. To thrive, one must be able to adjust to varying market situations seamlessly, adapting strategies to secure the best possible outcomes.
Join us on Average Joe Finances as our guest Erik Smolinski shares his investment strategies to include commercial real estate and active trading in the stock market, ultimately achieving his goal of becoming a millionaire before 30.
In this episode:

• Understanding how small investments can grow significantly over time empowered him to start his investing journey early.
• Explore various avenues, including commercial real estate and options trading, recognizing the unique opportunities each offered.
• The importance of starting small and staying consistent in investing.
• The importance of continuous learning and adaptation in the ever-evolving world of finance.
• And so much more!

Key Moments:

03:02 Erik's Journey into Investing
05:38 Erik's Diverse Investment Strategies
06:19 Realization and Shift in Perspective
07:19 Approach to Trading and Investing
16:14 Experience with Commercial Real Estate
17:46 Approach to Stock Market Trading
22:34 The Importance of Trends in Trading
22:56 The Beauty of Ignorance in Trading
23:44 The Role of Artifact Knowledge in Decision Making
23:59 The KISS Method in Trading
24:24 How to Start Investing Like Erik
25:03 The Reality of Trading and the Importance of Paper Trading
26:40 The Role of Discipline and Consistency in Trading
27:02 The Importance of Understanding Risk
27:24 The Disconnect Between Input and Output in Trading
27:47 The Importance of Training and Discipline in Trading
29:55 The Role of Mindset in Trading
32:48 The Importance of Consistency and Discipline in Success
33:49 The Role of Stoicism in Finance
38:40 The Importance of Starting and Staying Consistent
Find Erik Smolinski on:
Website: https://esinvest.com/
Facebook: https://www.facebook.com/esinvests
LinkedIn: https://www.linkedin.com/in/esmolinski
Youtube: https://www.youtube.com/esinvests
Instagram: https://www.instagram.com/esinvests
Twitter: https://www.twitter.com/esinvests
Average Joe Finances®
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About Mike: https://mikecavaggioni.com
Show Notes add-on continued here: https://averagejoefinances.com/show-notes/
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See our full episode transcripts here: https://podcast.averagejoefinances.com/episodes

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