Skip to site content
The Show

How to Identify Opportunities (And Make Your Own Luck)

Often times in life, we associate the successes of others with luck.  If someone lands the perfect job, finds their soul mate, or wins the jackpot, we automatically think that luck is on their side.  In the investment world, however, luck is not the only factor involved.  In today’s show, we share some great tips for creating your own luck by spotting opportunities that other investors overlook.

The Millionaire Next Door (a favorite here at The Money-Guy Show) outlines 7 facts about the millionaires in this country.  Two of those directly relate to today’s podcast:

  • They allocate their time, energy, and money efficiently, in ways conducive to building wealth.
  • They are proficient in targeting market opportunities.

This means that the most financially successful individuals in America do not randomly invest their money.  They spend their time doing research and they have a mindset which allows them to spot great market opportunities.

Some key learning points:

  • Look for opportunity in adversity.  This means that when the world cries that the sky is falling, you look for opportunity.  One of our favorite Warren Buffet quotes is “You should be fearful when others are greedy, and greedy when others are fearful”.  Having that contrarian point of view can allow you to take advantage of undervalued assets when everyone else is attempting to flock to safety.  To be clear, we don’t believe in market timing.  But, we do believe in over-allocating in sectors that are undervalued and reallocating when holdings become overvalued.
  • Understand the fundamentals or analytical facts.  Knowing the fundamentals of an investment or company will give you the confidence to make moves when others are hesitant.  If you have the concrete facts, investing is more a strategy than a leap of faith.
  • Patience, patience, patience.  Do not try to force an opportunity.  Do your research, sit back, and wait for the opportunity to present itself.  You don’t have to make a move just to be moving.  In addition, don’t get cute with the numbers.  If you are always waiting for a price to go down a little more (then a little more), you may miss an opportunity altogether.  If you recognize a great deal, take advantage of it.
  • Allocate your resources well by keeping liquid funds.  You have to keep some money on the side so you can take advantage of opportunities when they come around.  After all, it does no good to find a deal if you can’t act on it.

Hopefully these tips will help you identify opportunities when investing in the future.  If you have been “lucky” enough to take advantage of some good opportunities in the past, feel free to share them below or on our Facebook page.

In addition, please go check us out on our brand new YouTube channel!  We will be regularly posting mini podcasts as well as “The Money-Minute”, our new platform for answering your financial questions.  If you want your question to be featured in a video, email it to [email protected]!

Enjoy the Show?

Where You Can Watch and Listen:

Subscribe on these platforms or wherever you listen to podcasts for new episodes every Friday, live streams every Tuesday at 10am CT, and new highlight clips throughout the week.

Related Content

Free Resources

Financial Order of Operations®: Maximize Your Army of Dollar Bills!

Here are the 9 steps you’ve been waiting for Building wealth is simple when you know what to do and…

View Resource

Wealth Multiplier By Age

How much to save every month to become a millionaire.

View Resource

How Much Should You Save?

How much of your income can you replace in retirement? You can replace different portions of your income in retirement…

View Resource

Articles

Where Should You Invest? (A Beginner’s Guide to Investing in 2024)

, ,

Read More

What Is The Best Way To Buy A Home In An Expensive State?

, ,

Read More

Why Is Diversification Safer Despite 100% Stock Success?

, ,

Read More

Financial FAQs

Courses & Tools

How about more sense and more money?

Check for blindspots and shift into the financial fast-lane. Join a community of like minded Financial Mutants as we accelerate our wealth building process and have fun while doing it.

https://moneyguy.com/wp-content/uploads/2023/10/accent-icon-book.png

Millionaire Mission (Brian’s Book)

Buy Now
https://moneyguy.com/wp-content/uploads/2023/10/accent-icon-math.png

Know Your Number Course

Buy Now
https://moneyguy.com/wp-content/uploads/2023/10/accent-icon-pencil.png

The Money Guy Net Worth Tool

Buy Now

Recent Episodes

It's like finding some change in the couch cushions.

Watch or listen every week to learn and apply financial strategies to grow your wealth and live your best life.

LIVE ASK WifeWorkLonger

Should I Make My Wife Work Longer?

Watch Now
FULL HowToBecomeAMillionaire B

How to Become a Millionaire By Age (2024 Edition)

Watch Now
Laid off

I Just Got Laid Off! What Now?

Watch Now