EP032 David Jenkins on Investing with TheAnswerIs

David Jenkins is a strategic and visionary business leader, and the author of TheAnswerIs — an education and informative website inspired by his daughters and designed to provide young people with the basic knowledge about investing and finance. Dave was the former President and member of the Board of Directors of Canada’s most prominent independent real estate valuation company as well as the former COO at one of Canada’s most innovative industrial companies. With his rich experience and wisdom, he freely shares his knowledge on the website and by accepting speaking engagements at universities, businesses, and communities.

 

David joins me to share how he uses his website to educate young people about finances and investing. He explains why he uses short stories and examples in explaining investment concepts, the common missteps of a new investor, and why the Sensitivity Analysis is an essential tool especially for those who are considering investing their money. He also shares some inspiring success stories, including that of his mother’s — how she, being a widow, raised all of her sons and managed to leave something for them even after she was gone.

 

“When I was young I was motivated purely by money. I was swinging for the fences with my investments and there was no end in sight to the ways I could lose money.” – David Jenkins

 

This Week on Young Money:

 

• How Dave and his brother started their real estate venture together
• What “the aptitude and headspace for investing” means.
• Why you should always do the best you can with whatever job is assigned to you
• Why people would still respect you despite them not liking your decision
• Why you should maintain your integrity and develop trust
• How long long-term investing is
• Six items young people need to review financially
• How to avoid the Youth Trap
• What the Paradox of Time is
• What the model portfolio does and what it reflects
• What Exchange Traded Fund (ETF) is
• The difference between ETFs and Mutual Funds
• Types of diversification concerning equity investing
• How Warren Buffett and his mother inspired him

 

Key Takeaways:

 

• Do your best with whatever task you’re assigned with.
• Make your own luck.
• Act in the best interest of the organization you’re working for.
• Bring the organization ahead of your own personal interest.
• Trust and integrity cannot be overstated.
• Investing advice: Get started early, stay the course and take a long term perspective.

 

Resources Mentioned:

 

• The Terrible 2s — Why is the 2% the most dangerous number in investing? Article
• The Six-Question Ready to Invest Quiz

 

Connect with David Jenkins:

 

• TheAnswerIs.ca
• David Jenkins on LinkedIn
• TheAnswerIs on LinkedIn
• TheAnswerIs on Twitter
• TheAnswerIs on Instagram
• For a FREE presentation: Go to Ask a Question

 

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