Create Margin Of Safety (8 Ways)

Margin of safety. We know it’s important, but how many of us intentionally plan these into our lives? According to google maps, it takes exactly 22 minutes to drive from our home to the closest supermarket. But if you’ve driven a car for any period of time you know we should leave some buffer room. So in that spirit, in today’s video I want to share with you 8 ways to create margin of safety when it comes to our finances and life in general.

Timecodes:

0:00 - Intro
0:33 - Assume All Forecasts Are Wrong
1:24 - Beware Precise Numbers
2:18 - Expect The Unexpected
3:49 - Conservative Return Assumption
4:56 - Worst Case Scenario
5:58 - Hold Cash
6:38 - Never Over Leverage
7:29 - Minimal Overhead

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DISCLAIMER: I am not a financial adviser. These videos are for educational and entertainment purposes only. I am merely sharing my personal opinion. Please seek professional help when needed.