How to Build Long-Term Wealth and Make Saving Money Fun with Daniel

Daniel and The Dividends – A Unconventional Norwegian Money Tale

In today’s episode, we will speak to my friend Daniel from NolCo Inc (the No Loss Company).

We chatted through Twitter as Daniel has a strong passion for personal finance: How to get a better personal economy and better spending habits. He is absolutely not afraid to go against the grain, which is something that will definitely stand out in our conversation.

Norway boat fjord
                                 Photo by Torbjorn Sandbakk on Unsplash

We will discuss how Daniel approaches his finances in Norway, one of the richest countries in the world but also a country where the peer pressure is strong. He will share his big passion for saving money and investing in dividend stocks and how that can be in his own words “so much fun”!

The interview is light and accessible and despite his young age, Daniel comes on the show with great wisdom for all of us!

Listen here:

…or listen on Apple Podcasts

This episode is you if you are looking at growing your wealth over time beyond the simple savings account and certainly if you feel that sometimes buy things because everyone else around you does so,…

Key Takeaways:

  • Saving money in the bank account will not make you rich, this is what pushed Daniel to look for other ways to grow his wealth. And that led him to the Intelligent Investor.
  • To build wealth, one cannot depend on salary only, you will need to invest in a way or another (e.g. For Norway: Real Estate or Stocks but Daniel preferred the liquidity of stocks).
  • Saving can be fun especially as you see it grow like a tree or a kid.
  • Even if where you live there is big pressure from society: Do not focus on material things, do/buy what makes YOU happy.
  • On stock picking: Next to the “classic” ratio analysis, evaluate the management: Does the company care about people? Do they make large donations?  How does the company treat others all around them: customers, stakeholders, are people happy working for them? Happy employees, happy investors. And of course, make investing fun as well!
  • Go with your choices, learning is better than winning, you never lose in life.

Who is Daniel?

Daniel is a 22-year-old soldier in the Norwegian army. He is currently blogging about finance, personal finance, investments, and savings at Nolco Inc. He is passionate about saving and making the most out of the money, in order to make the money work for you instead of you working for the money.

Nolco inc

RESOURCES 

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