Spiritual Investing For All Ages with Live Traders Founder Anmol Singh
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Cathy:Welcome to Late Boomers, our podcast guide to creating your third act with style, power, and impact. Hi. I'm Cathy Worthington.
Merry:And I'm Merry Elkins. Join us as we bring you conversations with successful entrepreneurs, entertainers, and people with vision who are making a difference in the world.
Cathy:Everyone has a story, and we'll take you along for the ride on each interview, recounting the journey our guests have taken to get where they are, inspiring you to create your own path to success. Let's get started.
Cathy:Hello. I'm Cathy Worthington. Welcome to our latest episode of late boomers. I'm here with my co host, Mary, and we're trying to help and inspire our baby boomers and offer information and advice. Today, we have as our guest, Anmol Singh, who made his name as a consultant in the trading and investing industry.
Cathy:In 2015, he launched Live Traders. Anmol has coached and trained over 1,000 investors and traders.
Merry:And I'm Mary Elkins. Anmol has published prepping for success, 10 keys for making it in life. This book is about success and productivity and not about trading. We wanna hear his advice on investing and about his philosophy on life, and we hope you'll find a lot of value in our conversation. Welcome, Anmol.
Anmol Singh:Thanks for having me. Looking forward to chatting with you.
Merry:Us too. You.
Cathy:Tell us a little bit about your background and how you discovered your talent and your life path.
Anmol Singh:Yeah. Definitely. I was in college, you know, in my dorm room, you know, typical introvert kid and, was always on my Xbox. So for me, I always wanted to find what's something I can do from my computer, you know, that I don't have to have deal with off office politics and, you know, the colleagues and everybody else controlling my results. Like, if I can just control myself in the computer with trading the stock market, then, you know, my results are not dependent on anybody.
Anmol Singh:So that's kinda how I got into it. It was just, you know, basically where most people would go out in their first year, second year college partying. I would be in there just, like, researching and reading and just, you know, devouring all these books. And I just found myself getting really curious with it. You know?
Anmol Singh:I wondered, why do the stocks go up? Why do they go down? Who decides that? What makes it cause them to go up or down? And I just became really curious about it, and I just wanted to learn more.
Anmol Singh:And that's how I originally got started back when I was 18 years old. I've been doing that ever since.
Merry:Ah, that's great. That's, like, what
Cathy:else do you
Merry:go ahead.
Cathy:You were just on a driven path. You were, like, the nerd to begin with. Right?
Anmol Singh:Yeah. I mean, I think I'm still am for the most part. You know, I just still love researching, still love learning about it. But, yeah, that's kinda how I got started. It was just you know, I had a lot of time to myself.
Anmol Singh:There was a time in college where you had to apply for, like, internships and get get some work experience. I went to college in London in The UK, so they had you had to go through some internships. And that was the time where I saw people in my dorm room, all my, you know, mates, they all got great jobs and internships. That was the only one that wasn't able to get a callback, and that was the time where it dawned on me. I can't just rely and sit here and waiting for something to show up.
Anmol Singh:I have to go out and make something happen, and that's got, you know, what got me into it.
Merry:You were definitely destined to work on your own and for yourself and create something. Yeah. Yeah. That was the universe talking to you. We and our listeners are always interested in the spiritual life behind what makes our entrepreneurs very successful.
Merry:Can you address some of your spiritual beliefs that have helped you in your path?
Anmol Singh:Yeah. Absolutely. I think the biggest thing is, like, you know, people mistake the concept of karma in the Hindu traditions. Right? They talk about what goes around comes around, but that's not exactly how it's worded.
Anmol Singh:It's basically like you don't worry about the result as long as you keep doing the right things and the right processes. If the result is meant for you, it'll show up in your life. But you still have to do the work to get the results. You can't just sit here, wait, and chant, and, you know, manifest it and just naturally gonna show up. So there's also the karma is actually taking the action steps to make your goals a reality.
Anmol Singh:And if it's meant for you, it'll show up in your life. If it's not meant for you, that's you know, we're just telling you that, hey. Maybe this is not your destination. Maybe you need to look somewhere else. So I anytime I encounter failures, I just look at it like, okay.
Anmol Singh:That door was not meant for me. Right? And I can just have to find a different door that is meant for me. So I don't look down on the mistakes or the failures or, you know, get do down on myself based on that. I just have the perspective that of the silver lining, which is something I talk about in my book.
Anmol Singh:How everything is happening for a reason. It's happening for you. Right? But you're not you might not be able to see the reason in the moment when you're going through the tough times. But looking back, you'll be able to connect the dots and see how that, you know, actually work in your favor.
Anmol Singh:So I I train myself to just look at everything from that perspective that maybe I don't see the reason right now, but it'll be clear in due time, not in my time, in the universe's time, whenever it's right for me. So that perspective, you know, gives me that positive outlook on life and, looking at things as, you know, for you not happening to you. Mhmm.
Cathy:That's so important so we don't interfere with it too much mentally. Like, just not judge it so much. Just say whatever happens is meant to happen a certain way. I love that.
Anmol Singh:Yeah.
Cathy:Tell us a little bit about mindset and how we can develop it and use it.
Anmol Singh:Yeah. I think mindset is something that is just like a muscle. Right? If I go and train every day in the gym and a workout, I'll eventually get the muscle. So but for some reason with mindset, people have the perception that, you know, I just don't have the mindset.
Anmol Singh:I wasn't born this way or nobody taught me that. But it all is just a muscle. You just gotta develop it. Right? So anything you want, you cultivate that.
Anmol Singh:And it's the process of consciously catching yourself when you're doing something you shouldn't be doing. That's the hard part. Right? Because reflecting back, we can always see things the right way, hindsight, right, the benefit of hindsight. But can you catch yourself in the moment when you're having any of those negative thoughts or, you you know, feel like them doing something you shouldn't be doing?
Anmol Singh:The catching yourself and that's the that's what really mindfulness means is being conscious of your thoughts, process, and actions, but in real time. And that's the hard work, and you're gonna fail. You're not gonna do that all the time correctly, but just give yourself the grace and always focus on the next step. Hey. Hey.
Anmol Singh:I messed up this time, but starting tomorrow, here's what I'm choosing to do. Here's what I'm choosing to be. And I think just, having that perspective, keeps your eyes on whatever your vision is you wanna create.
Merry:Well, have you always been that way? Have you always had that mindset, or did you have to develop it?
Anmol Singh:I think I'm still developing it every day. You know? It just, it's a journey. So it's never something that, you know, you get all this information. Now you're like, okay.
Anmol Singh:I'm sorted now. My whole life is gonna be perfect, but we all know it doesn't work like that. It's just a conscious process of always just striving for better and just, you know, also being honest with yourself. Like, don't kid yourself. A lot of times we negotiate with ourselves.
Anmol Singh:It's okay. You know? I'll do it next time. And that those little breaks in what I call integrity is what's gonna lead you not to get to your goals. So integrity is doing what you said you're gonna do and then doing it when you said you're gonna do it.
Anmol Singh:And doing it whether you feel like it or not, doing it because it's the right thing to do. So I think if you live by that, I think, you're gonna get closer to your goals. If you take action on your words and you honor your words, you believe in your words, and you follow through on them. Because if you don't believe in your own words, how do you expect the clients to believe in you? How do you expect the universe to believe in you if you don't believe in yourself?
Merry:That's really, really clear.
Cathy:Having a discussion with my daughter all about the words we use and trying to tell her stuff that took me years to figure out that if you have negative thoughts that are intruding, say they're keeping you awake at night, you need to replace those thoughts with different thoughts because we can control how we think. And, you know, what do you say to people, like I was explaining to her, when they when they come back with, well, that's just blind optimism. Because you're always trying to think of positive things. And I and I say, yeah. It's really important to try and think of positive things as opposed to negative things.
Cathy:So what do you say to people when they put you down for saying that's just off blind optimism. It's stupid.
Anmol Singh:How do
Cathy:you answer?
Anmol Singh:Right. I think, a good metaphor to use for that is, like, let's say if a farmer is at his field. Right? And he is, let's say, not putting any seeds in there. So people would think, well, if I'm not putting any seeds in there, then nothing is gonna grow.
Anmol Singh:But that's not true. In fact, the weeds are gonna start growing if you don't
Merry:use
Anmol Singh:the land correctly. So it's not it's good to not have those negative thoughts. It's okay if you're like, I don't wanna think this positivity. I don't believe in that. I just wanna not think negative.
Anmol Singh:Great. But if you replace the negative but you don't replace it with something, well, then negative is gonna grow back again. Weeds are gonna grow back again. So just like a farmer, you know, he has to plant something. So once you re you replace your negative beliefs or you remove your negative beliefs, it's really important to replace them with something positive so something's taking its place.
Anmol Singh:Right? If you don't do that and we just focus on getting rid of the negative, well, it's gonna grow back again, and it's gonna keep showing its head up. So it's important to replace that with something positive just like a farmer would. And, I mean, positivity works. You know, it's scientific actually.
Anmol Singh:Right? Placebo is a real thing. Mhmm. If you scientists, any time they're coming up with a medication, they first tested on placebo. Why?
Anmol Singh:Because placebo works more than half the time for a lot of people. Why? It's power of belief. So even if you don't believe in spirituality and even if you just look at it scientifically that it's actually giving you a better edge than not having anything, Use it scientifically if you're not believing in spirituality. Right?
Anmol Singh:It it's working anyway, so might as well use it to your advantage.
Merry:And they also say that people who are more optimistic and positive live longer.
Cathy:Right. Yeah. I like the example of the farming, though. That's an excellent way to express it because, yes, the weeds will grow. Absolutely.
Cathy:I knew you'd have an answer for us on that. I'm very happy with that good answer. Thank you.
Anmol Singh:Thank you.
Merry:Can you tell us a little bit about your views on success and how our audience of boomers can develop their views on their own successes?
Anmol Singh:Yeah. So my definition of success has evolved and changed over time. You know, in the beginning, it was all about, like, if I just made this money, I will be successful. Right? And, you know, guess what happened?
Anmol Singh:I made all that money, but then my health was a complete mess. And I was like, am I really successful? Like, I got this money. Great. But if my health is a mess, is that really success?
Anmol Singh:And the answer was no. So then same way, if let's say my health is great, you know, my finances are great, but my relationships are a mess. I can't even get along with people. Is that really success? You know, it's not.
Anmol Singh:So my definition evolved and changed over time. So now the way I define it is when you're sitting by yourself and nobody's watching, how do you feel about yourself? Right? If you can honestly say, you know, I'm doing the right things. I feel great about myself, then you're successful.
Anmol Singh:And you you don't have to compare your successful somebody else's success. Right? You just compare yourself with how you were yesterday or the day before or the week before. So as long as you can honestly sit with yourself and really feel good about your actions and where you're at, that's what I consider true success to be. But, true success really is having harmony in all of those areas, health, wealth, love, and happiness.
Anmol Singh:It's not just one dimensional. That's not really successful. You can say you're financially successful, but true success is Mhmm. You know, being successful in all areas of your life or at least you being okay with where you're at in all of those areas. So I think that's what I consider to be true success.
Anmol Singh:And the first thing for people is to define it. What does success mean to you? Right? Take some time for yourself and really think about if we had a magic wand and you can just wave that and live the life you want, what would that look like? Yeah.
Anmol Singh:And be really vivid with it. Right? Like, how much money would you need, right, to be considering you're successful? And a lot of people have a higher number than what they actually need because they never did the math on if I wanted to do all these things that I wanna do in my life, what would it actually cost me? And the number is usually much lower than people think it is.
Anmol Singh:So you can still do those things now. You don't have to wait till one day you have millions of dollars to be able to do them. Start taking action now. Define what success means to you, and don't compare yourself to anybody else's success.
Merry:That's great.
Cathy:That's very, very good advice. I love that. And now this is a heavy question. Please give us some insights into your views on the stock market right now and tell us how you advise your live traders group to proceed these days.
Anmol Singh:Yeah. So there's two types of people I would give different pieces of advice to. So somebody who is, let's say, you know, doing this every day like I am. Right? This is my day to day stuff.
Anmol Singh:I do it every single day. So if you're somebody who is looking to do this as a career, it's gonna be different because we're gonna be trading stocks. So we're gonna be in and out all the time, and it's not it it doesn't really bother us what the market's gonna do, what the economy is gonna do because we're always just in and out all the time. But for somebody who is watching this, you're like, you know what? I have another job.
Anmol Singh:I have another business. I don't have any desire to sit in front of my computer like you all day. You know? I have my other stuff going on. For them, I always tell them, then you don't even need to worry about the economy or the stock market or whatever is going on in the news.
Anmol Singh:You just get in the process of constantly investing every week or automatically keep putting it away in the market. And if you do that research, obviously, you can go back to all the way to 18 hundreds, 19 hundreds. If you do that every week, every month, deposit into your account, you're gonna double your money every six to seven years. Right? So plan it out like that.
Anmol Singh:And the market has always been higher than where it was ten years ago. Every single time. We've seen the COVID crash. We've seen the Ukraine Russia war. We've seen the Palestine thing.
Anmol Singh:Right? We've seen Greece debt crisis. We've seen so many things in the world, but guess what? The market is still higher than where it was even when those crashes happened. So a lot of people don't invest, and that's the biggest mistake you're gonna make, because people look at but markets have the all time high.
Anmol Singh:Should I really be doing it now? Well, it's gonna be higher ten years from now. Right? So the answer is yes. So you have to be okay with living through those pullbacks and not watching the prices every single day.
Anmol Singh:Just invest for the long haul.
Merry:And and not pull it out when things look like they're going bad. Just keep it there?
Anmol Singh:Yeah. Absolutely. Because, most people would time it incorrectly. And you might time it. Let's say you let's say you were right.
Anmol Singh:You got out of the market perfect. Markets dropped 20%. You feel really good. But if you never buy it back, well, markets are much higher than where it was even after the twenty twenty crash. We've gone up almost double from twenty twenty crash.
Anmol Singh:So it's like, you're gonna miss out on a big chunk. And if inflation's at 6%, you keep your money in a bank account earning 4%, you're still losing 2% per year.
Merry:That's right.
Anmol Singh:Right? The purchasing power for a dollar, which was a dollar in nineteen seventies, right, is worth roughly 10¢ in today's money.
Merry:Oh, 10¢.
Anmol Singh:10 cents. Really, you're gonna need $4.81 for each dollar, to get the same buying power.
Merry:That's pretty scary. So so if you if you put money under your under your mattress, in 1970, it you'd be really in a bad
Anmol Singh:way. Yeah. You'd lost 90% of the purchasing power. You wouldn't be able to buy the things you could with that amount of money back then. To try to buy it now, it's gonna lose 90% of the value.
Anmol Singh:So but if you do it in the stock market, you're gonna come out ahead of it. Right? And your money is gonna double every six to seven years. So not only are you maintaining the purchasing power, but you're actually building more wealth on top. And the earlier you start, the better it is.
Anmol Singh:It's it's like a snowball effect. You know? Like
Merry:So so do you think it's best to be invested all in equities or to spread it out amongst the the offerings out there, the bonds Yeah. Crypto and all of that?
Anmol Singh:It'll be different for different age groups. So if somebody is, let's say, in their twenties, thirties, you have the benefit of time. Right? So even if the market crashes and takes, like, three years for it to come back, you have the time. Right?
Anmol Singh:So it's not a big worry. So I think if you're early in your career, in your first, second half of life, you should be all in equities. Right? And maybe take a five or 10% of that. You could have some crypto if you really love it.
Anmol Singh:You're like, I wanna have some exposure or you really believe in it for whatever reason. Then, yeah, I think five or 10% of your account is reasonable number for half. But now if you're, like, two
Merry:boomers or
Anmol Singh:Yeah. In your twenties, thirties, forties. But
Merry:if you about older people? Yeah.
Anmol Singh:So if you're older, then I would suggest, like, you know, kinda dividing it a little bit. So maybe instead of % in equities, maybe you have 60% equities, 10% bonds. Right? Some gold, some silver, some more safer stuff that isn't gonna go up as fast, but also isn't gonna go down as fast either. If because if you have a % in equities and you let's say you're 70 years old, 80 years old, 60 years old, and you might foresee that you might need some money in the future for retirement, then if the stock market goes down, well, you you probably don't have the benefit of waiting five, ten years for it to come back up.
Anmol Singh:So that way you wanna have some in cash for your emergency funds that you might maybe need someday. And then rest of you should have, like, gold, silver, some equities, some bonds, so you're more diversified.
Merry:So you like gold. Do you invest actually in real gold and real silver or or like like, actual, you know, mutual funds? What do you do?
Anmol Singh:Personally, I like physical gold just because, you know, it's kinda like out of sight, out of mind. Like, I bought it. I put it in my safe. I don't have to look at it. Really?
Anmol Singh:Because when you see it in your account as a ETF, let's say, of GLD, which it mimics the price of gold. Right? And you can hold the same thing too. But then me as a trader, because I'm watching it every day, I get tempted to wanna get out, you know, tempted to sell it, tempted to do do all those things. But if it's a physical gold, I just tuck it away.
Anmol Singh:I almost think about it like it's not there. I don't have that money anymore. It's gone.
Merry:Is it easy to sell?
Anmol Singh:Yeah. Very easy to sell. Very easy to sell gold. You know, and you can sell it anywhere in the world. That's the best part about that.
Anmol Singh:And if, you know, like, Bitcoin is great, but let's say something happens. There's a global blackout or electricity is down. Well, Bitcoin's not really useful anymore because you can't really send it to anybody if Internet's down or whatever. With gold, you know, you
Cathy:can
Anmol Singh:take it, sell it anywhere in the world, and you'll still be able to get your money.
Merry:What percentage of gold would you say people should keep if they can get it? So
Anmol Singh:yeah. I think similar advice as earlier. Like, if you're older, maybe more majority of your portfolio should kind of go start going to gold and silver, maybe thirty, forty, 50 percent of it, in fact.
Merry:But
Anmol Singh:if you're younger, then gold should be only used as a vehicle of saving your money. So if you have a percentage of your income from your job, your business, or maybe you're trading in the markets and your percentage of your income, You just keep taking it. Right? So every month that if I had a great month, I'll take some money out, you know, buy a couple gold coins or whatever, and just use that as a form of, you know, saving my money. But money that I control, that it's not in a bank, so I'm avoiding any potential global risk that might happen.
Cathy:You know, it became a big deal the other about a few months ago when Costco started selling gold bars. Because now at Costco, you can buy a gold bar.
Merry:You can?
Cathy:Oh, yes. All the Costcos sell them.
Merry:I didn't know that.
Cathy:Kind of amazing. And people really, really were it would there was, like, a run on it at Costco. Like, all the Costco shoppers were buying it for a while, and I just thought that was so strange.
Merry:Did you buy some? No. Oh, I I didn't. But maybe I should have.
Anmol Singh:Yeah. When when they launched it, I think they launched it for $1,900 or something an ounce, and now it's almost $3,000 an ounce. So people who didn't buy it back then, you know, did a really
Cathy:good job. I think it's about a year ago, something like that, they got into it.
Anmol Singh:I I remember they were doing the Pam, minted, gold bars there,
Cathy:and
Anmol Singh:they were selling it for less premium than what you would get from a gold dealer. So they were offering one of the best prices on that.
Cathy:Wow. Yeah. They they would.
Merry:Well, a lot of entrepreneurs behind all of that, I'm sure. And on that note, can you can you advise our audience of boomers, who want to still be entrepreneurs or who are, looking at their own lives? Can you advise them on, what they should be thinking about when they're starting out? Or as they progress in their business. Is it all about purpose and passion?
Anmol Singh:Not really. I think you know, because my view on passion is that if you're good at something, you're automatically gonna get passionate about it. Right? If you're bad at something, you're not really gonna be passionate about it. Right?
Anmol Singh:So my I always tell people, like, follow the passion is a great advice. Right? It sounds really good, but you also have to get good at it. Right? And that's one of the things I yeah.
Anmol Singh:I remember when I first came to New York, and I wanted to, like, meet all these hedge fund guys. And so I donated to all their charities, had would just have lunch or dinner with these billionaires. And I always hated that because the only advice they would always give you would be, like, follow your passion. I'm like, oh, that is great. I've heard it all before you said that on TV.
Anmol Singh:Like, I'm here to get some actual advice. And they would always tell you, follow your passion. That doesn't help somebody who's just starting out. Right? Like, what should I do next?
Anmol Singh:You know, I don't know what I'm passionate about. Most people don't.
Merry:Right.
Anmol Singh:So one yeah. So one thing I realized is, like, I could be passionate all I want about basketball. Right? But I'm sure I'm probably not gonna ever get good at it. So it doesn't matter if I'm passionate about it.
Anmol Singh:Right? Whereas if you know anybody who's good at the who's passionate about their craft, they're also good at it. So I always tell you, get good at it first and watch. You'll automatically become passionate if you're good at it. Right?
Anmol Singh:So I think that's one of the things with passion. But for most people starting out, you know, entrepreneurs starting out, I mean, you have to define a your who you're serving. Right? What market are you serving? What value are you bringing to them?
Anmol Singh:Because money is only exchange because you're exchanging value for money. So they have to see that the value outweighs what you're gonna charge them for your product or service. That's the basic thing you have to get down. And then try to speak to just your target audience, not everybody. I think that's the mistake people make.
Anmol Singh:They go too general. They wanna talk to everybody, but you'd rather you'd be better off, like, annoying 50% of the world. Right? Because
Cathy:if you talk 50%,
Anmol Singh:then the other 50% are gonna love you. But if you try to appease to everybody, you're gonna attract nobody. So I think that's one of the things, you gotta do. And you see that used in the world these days. Even in politics, people use the same thing.
Anmol Singh:It's the same exact strategy of you create that divide. So you speak directly to your audience where your audience gonna go out on a bat for you. And the rest of them, they were not gonna buy from you anyway. But people or even politicians that go too general, they don't appeal to anybody in so in doing that.
Merry:Yeah. I
Anmol Singh:think that applies to marketing as well.
Merry:Yeah. You're right.
Cathy:Yeah. I know for podcasting, they always tell us drill down, figure out who your audience is, have a an avatar listener, And we're trying to do that more and more and, you know, kind of cater to our name, which is late boomers Mhmm. And feature advice and inspiration for people who need us, really. So, and tell us about your live traders group and how that came to be. I'd
Anmol Singh:love to hear
Cathy:about it.
Anmol Singh:I started that in 2015. So I've been trading the market since 02/2010. That's when I started. It's on my fifteen years. So five years into it, I was working for another company.
Anmol Singh:So I would trade their money. So it's called a prop firm where the company gives you their money. They hire all these traders, and all the traders are basically trading the company's capital. And in exchange, the company would take a percentage of everything you made, because they gave you the money to do that. So I started working under the company for a long time, and then the CEO called me to say, hey.
Anmol Singh:You know, you're doing really well in our firm. Why don't you come in and coach the newer hires that we're bringing into the company? So that's how I got into coaching initially, is they would bring on new people and I would be responsible for training them. So I did that for till about 2015. And then 2015, they got bought out by a different company, and that's why that was the decision I had to make.
Anmol Singh:I was like, well, I've saved enough of my own money now. I shouldn't really be giving them a percentage of everything I make. I can just do it on my own. So in 2015, when they got bought out, I decided not to join the new company. And I started LiveTraders as a way of guiding newer people coming into the stock market and showing them the reality of trading, how it actually works rather than the perceived, you know, marketing hype that
Cathy:you see online. That's great because you you used your own advice. You became very good at something, and then that became your passion. Right? So how do you go how does the live traders group work?
Cathy:How does that work? Do are they logging on for instruction from you? I assume it's all remote, or how do you do it?
Anmol Singh:Yeah. So we have a lot of different courses and trainings that people can, you know, go through. And those are all, like, on demand online. People can watch it. There's hours and hours of lectures on there.
Anmol Singh:So that's where they get a lot of their training from. But then the reason we call it live traders is because I feel that it's great and all to learn from a course, but unless you watch somebody do it live in real time when the market's open, that's where the real learning takes place. So I stream myself trading every single day. Monday to Friday from 09:00 till 12:00, I go online. People see my camera.
Anmol Singh:They see my audio. They even see my screen. So they can see me trade while I'm talking them through what I'm doing, why I'm doing it. So not only is it great learning experience, but then they also see what I'm getting in and out of all the time so they can get a good sense of it. So that's why we call the live traders.
Anmol Singh:So people log in to that every day and kinda trade with me almost like they're sitting next to me. I try to create the environment that I had trading in a company of full of traders,
Cathy:but now
Anmol Singh:we do it virtually online.
Merry:Oh, that's interesting. How does someone get involved in your group?
Cathy:How do you enroll people in
Anmol Singh:this? How do I enroll? So, you know, usually, social media is where most people would find us either through, you know, YouTube or either through other social media channels. So I post, almost every day on, like, x and Instagram. Just post my opinions and my thoughts on it Mhmm.
Anmol Singh:On the markets. And then, also, you know, we have a team, so they run ads to it as well. Like, YouTube app.
Cathy:Are they paying a monthly subscription? Is that how it works?
Anmol Singh:Yeah. So for the live trading room, it'll be a monthly subscription month to month, you know, and people log in. And then the courses are just you purchase one time, and then you have access for live to go over them. And then once a year, we'll do, like, a live event in person for four days. We we did one in November in Dallas, Texas.
Merry:Oh.
Anmol Singh:We had, like, 30 people there, and we just basically were there for four days, lock them in a room, and teach them everything I know. So we do, like, Saturday and Sunday just teaching off the slides and the books. And then Monday and Tuesday, we actually do it together when the markets are open.
Cathy:That's okay.
Anmol Singh:So we, yeah, take them to school.
Merry:That's that's the way you're partying now.
Anmol Singh:Yeah. Yeah. That's that's my way to do it. Yes.
Cathy:Yeah. That's amazing.
Merry:Yeah. It's a great idea. What what do you see for the future of investing and the stock market?
Anmol Singh:Yeah. I think the future is trading has got so accessible. You know? When I started, you know, Internet speeds were slower. Right?
Anmol Singh:You didn't have all the great technology or the laptops with great powered laptops. You don't have all of those. So you need all these screens back in the day, and you need all of that. Right? You need great Internet and also the technology.
Anmol Singh:The softwares weren't there back in the day now. It's, like, so accessible. People can just download an app on their phone and get involved. So I think this is gonna get more and more popular as time goes by, as AI comes and replaces a lot of jobs. People are gonna look to do something from home.
Anmol Singh:Right? And I saw that. We got a glimpse of that during 2020. Right? When the whole thing happened, everybody was locked in home.
Anmol Singh:That was the biggest influx that at least we saw at live shows of people wanting to come and learn. Right? We didn't even advertise, but people would just go on the site randomly and sign up for courses and do all those things. We're like, where are they coming in from? And then, you know, we put two together, but a lot of people are home.
Anmol Singh:So they're probably searching for things to do. And I think that's gonna happen more and more. You're seeing that. A lot of jobs are gonna be either replaced by AI or even the government jobs are, you know, being lost now. So people are gonna find something to do, and I think it's the age of online, and it's not too late.
Anmol Singh:A lot of people might think, but I'm late. All these people got started all these podcasts. You know, I'm starting late, but not really. Like, we're still very early into the whole online space. So if you are in anything to do with online, whether it's be trading, the stock market, whether you are a content creator, whether you are running a podcast, this is the best time to put the foundation pieces together because this is the new media.
Anmol Singh:It's it's replaced. The old media is gone. Mhmm. It's only gonna get better.
Merry:Yeah. Yeah. Well, what are we talk a little bit about algorithms. Could they create a problem, or would that be more of a positive thing for investors? Because I know a lot of companies right now are using algorithms to invest.
Anmol Singh:Yeah. For investing, you could definitely create algorithms because we are able to back test and see what a stock might have done over the last twenty, thirty years. And based on that, people can create algorithms. But when it comes to trading, what I do in and out every day, I think that's still very dependent on the human being there present in real time to manage the risk on those positions. So I don't think that's ever truly gonna go away, because in the end, the algorithms are programmed by a human.
Anmol Singh:Right?
Cathy:Mhmm.
Anmol Singh:And what happens then is once you start spotting those patterns, they start becoming predictable. And people have been trying that for many, many years. Even ten, fifteen years ago when I started, people would be developing these robots or softwares or algorithms. But what happens is when they program something like that, it starts working. Everybody starts using it, then it becomes predictable, then it stops working.
Anmol Singh:So it's gonna be that constant thing. I think that's why humans are you're not gonna be able to replace humans in trading or investing.
Cathy:But are you saying that when people nowadays I had a girlfriend that was very good in the stock market, and she did have an office with multiple screens all the time. And this was several years ago. But do you think now you can just do one laptop and have enough, knowledge just on one screen? Is that Yeah.
Anmol Singh:I I suggest people have at least two, so So maybe a laptop and an extra monitor. Right? Uh-huh. But, yeah, when I travel, I still trade every single day even when I'm traveling, and I am able to do all of that and live stream just on my MacBook. Right?
Anmol Singh:I don't need an extra monitor. If I do need it, I could just bring on another USB, those little USB monitors, which is just like an iPad. Or you can if you just put your iPad and that turns into a second monitor. So you don't need those things anymore. I think people like to have it.
Anmol Singh:Because it looks cool. You look at my face.
Cathy:It does. It does. It's
Merry:very cool.
Anmol Singh:Yeah. And I did that too. I had, like, five monitors. I would still only look at one or two of them, but it just looked nice to post on social media, look at my amazing office. But you don't really need to.
Anmol Singh:Yeah.
Cathy:No. Because I never am sure, like, what people are doing on all those screens. Yeah. Because it's kind of amazing. But you gotta know what you're doing with all of them because you're controlling something on all of them.
Anmol Singh:Yeah. But you only have two eyes. So even if you have five monitors, you can only look at one at any given time.
Merry:Right.
Anmol Singh:So I might as well just keep looking at the one and just switch the window rather than turning my head and ruining my neck while I'm doing it all the
Cathy:way up.
Merry:Alright. What is on all those screens that's different?
Anmol Singh:Yeah. Some people have, like, charts of different stocks, different sectors, what the energy stocks are doing, what's gold doing. So they just kinda have it all in one screen.
Cathy:Mhmm.
Anmol Singh:But I just pull it up when I wanna look something up rather than, you know, looking left and right and, doing that all the time. Again, people have all different sorts of things. They might have whatever stocks they're in might be on one screen. Whatever looking to get into might be on another screen. They might have a list of things they're watching.
Anmol Singh:Maybe they have the news open on one of them to see what's going on in the world. Mhmm. So people have all of that, but, I think beginners might be tempted to get it. But once you've been doing it for a while, you you don't really need all those things.
Cathy:Mhmm.
Anmol Singh:And
Cathy:it occurred to me when you were talking about how people just found you that as a business name, you chose Live Traders, and that was a smart business name choice. So how would you advise entrepreneurs to be on selecting a name for their business? Because that seems like it's critical.
Anmol Singh:I go back and forth on this one. You know, I think as long as I think the biggest thing if I was picking a name is, first, what domain is available for that name? That's number one.
Cathy:Yeah. So
Anmol Singh:you got a great name, but if you have to make your domain really long or use, like, .xyz or something, then it's not as good. So first, I figure out, okay, what domains are actually available that I can get in I mean, ideally, one word, you're not gonna find any more domains available. Majority of them are taken. They're really expensive. But if you can find a domain which is two words or maybe three max, right, then that's what I would look to pick.
Anmol Singh:But the name itself is not that important because, I mean, what does Apple really mean? Mhmm. You know? What does Microsoft really mean?
Cathy:Well, true.
Anmol Singh:What does Google really mean? So, like, those things don't have any meaning to what is chat GPT? You know, like, there's a lot of things that don't mean anything. As long as you are good at conveying the value to the market of what you can do, then the name is irrelevant as long as the domain is easy to find. And as long as you can get a .com, I think those are the things that I would look at.
Anmol Singh:Mhmm.
Cathy:Yes. Sajid, it is very hard to get a .com. Like, my name as a .com disappeared years ago. Somebody's sitting on it. They're not using it, and I can't get I can't get it.
Cathy:Yeah. Same. It's very frustrating. Your your name too?
Anmol Singh:Yeah. My my on it?
Cathy:.Com
Anmol Singh:is gone. I got the .net, but the .com is gone. Yeah.
Cathy:I think I got a .net, and I got a TV, but who's ever gonna type in TV?
Merry:Right. I
Cathy:had a
Merry:dot TV too.
Cathy:You did? Because we were both actors. So dot TV is is kinda okay, but not great. Yeah. No one knows there even is a dot TV.
Cathy:So, Anmol, what would you like our listeners to have as a takeaway today?
Anmol Singh:I think the biggest takeaway I would do is, like, you know, stop analyzing things too much, and let's start getting to work. Because you you much rather start, fail, and just quickly reiterate. So the way the entrepreneurship cycle should look is you make a decision. Right? You apply that decision, and that might fail.
Anmol Singh:And you learn from it. You implement you make the tweaks, and you do it all over again. The quicker you can go through the cycles of starting, implementing, tweaking, fixing, the best entrepreneurs go through that really, really quickly. Mhmm. A lot of people who are, take more time to succeed, they go through that very long.
Anmol Singh:They make a decision. And just to make the decision, they might spend, like, a whole week on it. And then they might implement it, maybe not. And then they're like, oh, it failed. Let me go back.
Anmol Singh:But the thing is you implement, make the mistake, take the feedback, make the tweaks. And the quicker you go through that circle, the faster your results are gonna show up. And the the other thing what we talked about is integrity early on is do what you said you're gonna do and do it when you said you're gonna do it. So a lot of times people would say, you know, but I'm a person of integrity. You know, I follow through on my word.
Anmol Singh:I'm like, really? When is the last time somebody called you and you said, hey. I'm just in the middle of something. Let me call you back. And you never did.
Merry:Yeah.
Anmol Singh:Right? Or you ran into an old friend at a shopping mall or airport. You're like, hey. So good to see you. We should totally make plans to catch up again.
Anmol Singh:And you make no attempts to ever follow-up with them or catch up
Cathy:with them.
Anmol Singh:So you just said something you don't mean. Why do we do that?
Merry:Right.
Anmol Singh:Right? To try to look good. We don't you know, try to be polite. But you're basically saying something that you don't mean, and that is a slippery slope because then it convinces your unconscious mind that you're full of it. Oh, you're not gonna do it.
Anmol Singh:You just say things you're not gonna follow through. So the key is to get really good at following on your word or just don't say it at all because I believe in the power of words. You put it out there in the universe, you gotta make it happen. If you don't, that's gonna result in low self confidence, low self esteem, and you're gonna beat yourself over. Why do I keep doing this over and over again?
Anmol Singh:So just make sure you say what you mean. And when you say something, you do it, and you do it when you said you're gonna do it.
Cathy:Oh, I love that. I love that because it's it really is the power of the unconscious mind. You don't want your unconscious mind to hear all the the BS you're dishing up. You know? Yeah.
Cathy:Very bad for our mindset. I love that you went back to the spiritual component right at the end there. It's really good.
Merry:So just do it, implement it, and do what you say.
Anmol Singh:Do what you said. And if you notice, like, I'll give you a quick example. I I had this thing. I noticed in my own life, there was a area of health, which was a complete lack of integrity. You know, I said, oh, I'm gonna start working out from Monday.
Anmol Singh:And then Monday comes, and it's like the twenty eighth of the month. So you're like, I'm just gonna start from the first. And then the first comes, but it's November 1. I'll just start from January 1. So we're just negotiating with ourselves, moving the timeline forward on our own goals.
Anmol Singh:Like, so we're just delaying our own progress. So that's when Adama, you know, we I got I can't just keep saying I'm gonna do it tomorrow. I have to put things in place to ensure I do it when I said I was gonna do it. That means putting it in your calendar, assigning a time slot. Are you gonna do this tomorrow?
Anmol Singh:Great. What time? Two to three? Okay. Great.
Anmol Singh:Let's put it in a calendar and make sure then we get it done. Things that get scheduled, get done. Things that don't get scheduled, things will find ways to fill your calendar, and then you're gonna be like, where did the day go? I didn't do any of that.
Merry:That's so true. So true. Takes a lot of discipline.
Anmol Singh:Yeah. A lot. A lot of discipline. But that's where it's it's very rewarding. So I every night in my journal, I write down the night before.
Anmol Singh:What are the six things that I need to do tomorrow when I wake up? So I'm not like most people. I wake up, okay. What am I gonna do today? Gee, how do I move my business forward?
Anmol Singh:You're already late. You already missed the boat. So I write down the night before. If I just do these six things when I wake up, I consider myself a success for that day. That's it.
Anmol Singh:So when I wake up, I don't care about the emails coming in, who's calling me, who's texting me. I just go by my calendar and start knocking those things things down. Now if I complete those six things by 12PM, I have the whole time in the world to play golf or for myself. If If it takes me 9PM to get those things done, then I'm sitting there until I get those things things done. So I think that allows me a lot of flexibility, and I feel good about myself at the end of the day when I've done those six things.
Merry:That's great advice. Thank you for that. Thank you, Anmol. Our guest today on Late Boomers has been Anmol Singh, an expert on trading and investing, and he's the head of the company Live Traders. You can reach him on, and I'm going to read this.
Merry:It is delt at delta ninety on Instagram, and that is at d e l t a and then the word spelled out, n I n e t y. And on x, also the same thing, d e l t a n I n e t y. Thank you again. This is great.
Cathy:And tune in next week when we'll have another exciting guest to inspire you. Please subscribe to our Late Boomers podcast on YouTube, and take us along in the car and on walks on your favorite audio platform. Let us know what gets you inspired. We are on Instagram at I am Kathy Worthington and at I am Mary Elkins and at late boomers. Please share the Late Boomers podcast info with your friends who may not yet be listening to podcasts.
Cathy:Thanks again, Anmol.
Anmol Singh:Thanks for having me. It was great chatting with you.
Cathy:Thank you for joining us on Late Boomers, the podcast that is your guide to creating a third act with style, power, and impact. Please visit our website and get in touch with us at lateboomers.biz. If you would like to listen to or download other episodes of Late Boomers, go to ewnpodcastnetwork.com.
Merry:This podcast is also available on Spotify, Apple Podcast, and most other major podcast sites. We hope you make use of the wisdom you've gained here and that you enjoy a successful third act with your own style, power, and impact.
