Don't be a money fool, you're not a fool!
Keeping your assets in cash, paying off a mortgage, 'playing' in the investment market, investing in crypto, can all work in creating wealth.
But it's a bet.
Keeping your wealth in cash doesn't even put you in the game. You automatically loose. Inflation eats away at the value, and it will not passive income for you.
The other mistake I see people making is holding onto 'bad debt', bad debt is borrowed money that is not used for something that will produce income or growth beyond the debt interest rate.
That's the thing with money & investing is that it has to start with truth, truth about where you're at, being honest about what you know & what you don't know, it means looking at it, it means being aware, and the truth can be a rude awakening, but a lot less painful to do it now than when bad decisions compound into million dollar silent losses through opportunity costs and poor investment choices.
'Playing' in the investment market and investing in crypto, is a bet. I don't consider this actual investing. This type of investing is so emotional, everyday most of these people check their portfolios, how exhausting & totally unnecessary.
This type of investing goes against the statistics, you are essentially saying you are not the average by doing it this way.
I'm all for not being average, I certainly don't consider myself average in life, but the outcome of the investment market has nothing to do with you.
Your business is all to do with you.
Your income is all to do with you.
Your health is all to do with you.
Your happiness is all to do with you.
Be totally outrageous with this, have no limits here.
But with investing? No.
Don't be a fool.
Don't bet on yourself to make above average calls over and over again. Even the best fund managers in the world can't get this right, in fact 70% of the time fund managers get it wrong. 70%%!! These are people who have been to ivy league schools and worked in financial markets since you were an embryo. They are smarter than you with investing.
And that's ok, you have other skills, like running your only fans account.
No, really, whatever else you could be doing other than trying to be a 'professional unprofessional investor' do that. You're better at it.
Not that you're not intelligent, this has nothing to do with intelligence, ok maybe a little to do with it, because there are some that will just never get it and chase one hype after another, and I just back away and pray with these people. But that's not you because you've read this far, unless you're reading this to rebut me and defend crypto, then yes I'm talking to you, you're a fool.
I get that this hype seems REAL, it seems like the real deal, like it's your ticket to wealth, to freedom.
The ticket to freedom is to do your soul work, create your art.
Part of the ticket to wealth is to open up portholes to get paid for your art.
Then to invest that wealth using averages, getting versed on how the investing actually works, on having a long-term strategy, and automating it all so you don't get all emotional about it and fuck up your own wealth.
This is what is in your control, focus on making educated decisions, then it's more likely you'll get a solid outcome.
You are not in control of the businesses you invest in on the stock market. You are not in control of the interest rates. You are not in control of the property market. You are not in control of bitcoin. But you are in control of the decisions you make in how you invest so you can reduce the risk, and invest in high-quality, diversified assets that match how you want to live life.
And for god-sake stop putting this stuff off, start before you NEED to start, because when it's urgent it's too late.
Start before you have kids, before you get married, before a loved one dies, before you get sick and can't work. Start so you don't say 'I should have done it earlier, now it's too late, so I'll put it all on black and if that falls through I'll take the government pension or become a drug smuggler'- I'm not making that up, I've seen all this happen.
This Thursday I'm running a live portfolio construction masterclass, I will teach you how to build your own investment portfolio. This is your chance to get pretty much one-on-one with me, someone who worked in finance for over 10 years, studied economics & finances, has a CFP, and worked with the largest fund managers & investors in the world for literally an investment that is a grain of sand in comparison to the impact it will have on your wealth. Send me a message for the details