James Altucher - Reverse Engineering How Much Income You Actually Need
Cue the fanboy alarm as we talk to James Altucher, a fellow podcaster who we love listening to, as well as an excellent author whose books we recommend. In this episode you’ll hear James lay out a super practical thought exercise that you can do along with us, to determine a life of wealth freedom, for whatever that means to you in the most conservative way possible to keep that money flowing.
James has started 20 companies, 17 of which have failed. You’ll hear how he has gone through some amazing wins and losses, the important lessons he’s learned along the way, and how he has come to realize you really don’t need as much you think, both in terms of physical items and monetarily.
James is such a likeable, humble guy and a wonderful conversationalist, we just know you’ll love this episode as much as did. After listening, go check out our conversations with Justin Malek, Lee Rankinen and Nick Loper for more information on podcasting and freeing up your time.
“I used to have more rules. My only rule now is - are there people going into this investment with me who are smarter and more successful. If yes, invest. If no, then don’t invest.” - James Altucher
Some Topics We Discussed Include:
- How James sold all of his possessions and lived out of AirBNB’s
- What happened that one time James had a real J.O.B.
- How to pick the right investment for angel investing
- How to determine how much money you actually need
- How to invest money to live off of it passively
- How to compare yourself to billionaires the right way
- How to create this wealth for yourself in a straight line approach
- Rules for which company to consider when investing
- And much, much more!
Contact James Altucher:
References and Links Mentioned:
- Get the EGP Letter here where you’ll get not only all of the notes for everything episode we’ve done and will do in the mail, a private forum community, plus new training videos all the time with us and our guests.
- Choose Yourself Book
- James’ podcast
- Choose Yourself Guide to Wealth Book
- AirBNB
- New York Times article about James’ AirBNB lifestyle
- Joe Rogan’s podcast
- Range by David Epstein
- Peak by Anders Ericsson
- Outliers by Malcolm Gladwell
- Mastery by Robert Greene
- The Rational Optimist by Matt Ridley
- Sapiens by Yuval Harari
- 12 Rules for Life by Jordan Peterson
- The Evolution of Everything by Matt Ridley
- Tim Ferriss’ show