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Last year I remember listening to a podcast at www.npr.org titled “Inmate With Stock Tips Wants To Be San Quentin’s Warren Buffett”. It reminded me of how anybody and I mean anybody with some savings can strat planning for their future. The inmate that was interviewed found new life through investing in his future. His name is Curtis Carroll and is also known as “Wall Street”, he teaches his knowledge to fellow prisoners and probably knows more about investing in stocks than your average Joe who’s not in prison. His story is quite remarkeable – the fact alone that he’s in prison and still manages to invest brings new meaning when you say “If he can do it, I can do it!”.

Listen using the embedded player below (a little over 10 minutes long):

He mentioned 4 Steps to master when it comes to planning for your future:

  1. Saving.
  2. Cost Control.
  3. Borrowing Prudently.
  4. Diversification.

Though these steps may seem very simple, there are so many external factors that can make these 4 steps very challenging to practice. But I believe if you can keep doing it, you will adapt and through time it will all seem very natural. Keep educating yourself and as long as your hungry for the knowledge – that knowledge will come.

Sources:

  • http://www.npr.org/2015/08/14/431958714/inmate-with-stock-tips-wants-to-be-san-quentins-warren-buffet
  • http://www.marketwatch.com/story/murderer-turned-stock-picker-is-oracle-of-san-quentin-2014-07-10
  • http://money.cnn.com/2015/08/04/technology/san-quentin-zak-williams-stocks/