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Living Unscripted - Handling millions harder than making them?

Discussion in 'Investing/Trading/Cryptocurrency/Altcoins' started by e_fastlane, Jun 1, 2018.

  1. e_fastlane
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    e_fastlane Contributor Read Millionaire Fastlane

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    The last part of Unscripted hit really close to home for me, as I have needed to start making money on my money years ago already. The issue is that I have been too busy making money in my business instead (or enjoying my free time). This results in 7 figures sitting in cash and withering away it's value to inflation.

    MJ makes everything seem very simple and easy...However I feel like there is a lot glossed. Which is fair considering Unscripted is not an investment book. But to be honest, it left me more lost than when I began.

    Some inconsistencies:

    1.
    On the one hand: We should just be able to follow some simple rules and something like 5% year after year is very easy to get.

    On the other hand: Someone must have not told the guys that do this for a living, since all the funds lost their asses during the crash. (Even the "top dogs").​
    2.
    On the one hand: I need to be in the know enough about the state of the economy and different industries I am investing in so I can manage the money intelligently.

    On the other hand: MJ says he just takes a daily "10 second portfolio peek". It seems like this glosses over all the leg work in the background that has to happen for some days to be just a peek.​
    3.
    On the one hand: I recognize that there is no free lunch and I need to do my own research.

    On the other hand: It sounds like "unscripted" means the goal is to go from business owner to professional financial adviser (of myself).​
    4.
    On the one hand, I believe MJ and how well he has been doing.

    On the other hand: The stock market has just been in a crazy rally for almost a decade and most people made money even with poor decisions.​

    Now switch gears to my problem. My time is still best spent investing into my business and not figuring out investing. If it was so low risk and easy, then this service would just be offered. To an average bystander, it seems like this exact service is offered. They call themselves financial advisers, portfolio managers or simply the guys that run funds. So where are the guys that are actually competent? Not everyone is the fresh graduate with only book knowledge. They supposedly have the same ideas of diversification (hence why a fund owns so many different stocks). How can I give someone all my money and get a guaranteed 4% back every year and let them keep the rest? I'm begging to give them my money!

    The biggest thing I see wrong in the financial industry is there is no Skin in the game. They make money regardless of whether they make me money. Are there any firms or advisers out there that only make a percent of profit? I would be willing to let them make alot of money from me.

    On the other hand..... I doubt banks are giving mortgages for 3.5% if they thought they can make 4% somewhere else........So the best I've been able to make of the situation is that unless I want to start working as a hedge fund manager as my 'retirement' job, I have to keep making money till I have enough to amortize over the rest of my life. Which is unfortunately a much bigger number. Can anyone provide any words of wisdom to straighten me out?
     
    Last edited: Jun 1, 2018
  2. CareCPA
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    If I remember correctly (from the little studying I have done for an adviser designation), this is considered unethical as it can lead to investments that are not in the best interest of the client.

    If you just want 4% returns every year, consider looking into annuities.
    I'm sure quite a few bonds and bond funds would also fit the bill.

    ETA: obviously with an annuity, you no longer have access to the principal, just the guaranteed payments.

    Edit 2: if you really just want 4% a year, I can think of some real estate transactions that would make sense.
     
    Last edited: Jun 1, 2018
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  3. Ungodly
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    Ungodly Tom Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    Not the worst of problems to have, but I think expanding on the potential ways you can strategically park your cash could be very high value to someone in your position. Pure reliance on a financial manager to try to eek out a few % points just screams risk to me. Why not look into acquiring real estate? Domestic or abroad. There are many emerging markets out there with higher speculative growth potential.

    Cryptocurrencies are also a fairly safe long term bet if you are diligent and diversified. Even taking a bet on a dark horse with a low entry can sometimes yield 1000%+ returns in short time (had a 800%+ return coin that I sold off yesterday).

    What I'm getting at is while it may seem like extreme risk to some, educating yourself of the possibilities and finding groups of similar people in similar scenarios can open up the door to much higher potential returns with defined risk.

    I've also heard that there are offshore banks with annual returns in the neighborhood of what you're talking about, but I don't know for certain. Maybe @GlobalWealth can weigh in.

    Disclaimer: I'm no millionaire, but I'm trending in that direction and am trying to plan for the situation you're in as best as possible.
     
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  4. CareCPA
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    I just checked, you had the same question a year ago. What steps have you taken since then with all the advice that was given?
     
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  5. e_fastlane
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    e_fastlane Contributor Read Millionaire Fastlane

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    I agree with everything you said. But you literally just described a lifestyle and/or job.

    None. I've used my business to put even more ridiculous sums of money into my bank account.

    It's possible that my current post came off wrong. My post from a year ago was "how can I put my money to work". The result was clear and confirmed my thinking. I need to become a part time investment manager. The current post is highlighting inconsistencies between that and MJ's portrayal of investment in his book.

    Here is a simplification of my thoughts: Money is NOT a rare commodity. Bank's can loan it out from the fed for very cheap rates. Why would the bank hand out 3.5% mortgages if 5% is easy to get elsewhere with that same money. Everything described by the guys in this thread (and partially in the book) is just alot of hand waving and misdirection from what seems like the reality. Yes you CAN make X% returns. But thats because there is also risk in it. If the person is loaning money from you instead of the bank for real estate, it's because the bank ran the numbers and the risk is likely higher than the projected returns. There's no magic involved. You are just crossing your fingers that your choice of deity smiled on you this year. Same with cripto currencies and all the other things.

    The only way I see this as a winning game (balancing out luck) is either by having insider knowledge (illegal), accepting the average returns by investing into something like s&p 500 and just sitting on the money for decades, or taking on a part time job as an investment manager so you can built extensive intuition into what you are investing in.

    I do want to stress the following: I am NOT putting down the choice to discuss and do these things. It's obviously a great way to make money. My concern is that everyone seems to ignore that this is in fact just another job. You guys might just call it a hobby since you love doing it.
     
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  6. CareCPA
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    Ah, gotcha. Here are some thoughts, in no particular order:
    Stock market gains are averages. It's very easy to beat 5% over the long run (or at least has been historically). To get a guaranteed 4-5% per year is more difficult. There are bonds that pay this amount.

    Banks do not invest in the stock market because their business model cannot withstand the fluctuations. They have minimum cash-on-hand requirements that they must meet. This means if the stock market was down one year, they would be in violation of those rules. I'm guessing there may be fed restrictions on what they can do with that cash as well. Banks lend out at 3.5% (not currently) because they have an appraisal report in hand saying the asset is worth that much. There is no such appraisal report for a stock.

    People borrow money from other individuals all the time. Not because the bank deems it risky, but because they have certain underwriting requirements.
    For example, I can't get a new mortgage right now because I've given up the full-time job, and am transitioning to self-employment. I can give them my current Income Statement, but that's not enough comfort for them. Therefore, I don't meet the debt-to-income ratio they need to check the box.
    If I find an investor who looks at the value of the asset and cash flow, and not my personal financials, then they may decide it's a good deal that they want to invest in. I'm sure @JScott has people throwing money at him, and doesn't need to go to a bank.

    Once you gain the base knowledge for investing, the ongoing time requirement is minimal. The fundamentals of real-estate don't quickly change. Bond and stock valuations don't substantially change. There may be market overreactions and corrects, but on the whole, the techniques don't evolve too much.
     
  7. e_fastlane
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    Thank you for the reply. I appreciate the time.

    I agree with this statement and thats what I meant by one of the strategies being just socking away $$ into the market for decades. But that's not the same as getting paid every quarter. MJ's example of "can you live off $40,000 in dividends a month" is missing this. I doubt companies are giving these same dividends during the crash, and for that matter you might not even be invested during the crash because you will lose alot more than whatever dividends you are getting. To me, this is the equivelent of financial advisers showing their best clients portfolio from a market rally as their "proof" of being able to make money for you.


    Completely understood. I know they have to use the money for specific things. My example was a simplification. But you can substitute bank for other lenders.

    Why do you think they have "certain underwriting requirements.". For risk purposes. Giving money for Joe Bloe to start his business is much riskier than for him to buy a home.

    Your personal mortgage example is understandable. However, you literally ARE a riskier bet because of no employment. They have ran the numbers out of a much bigger pool than what you or the little guy see. Without knowing you personally (the insider knowledge I mentioned in my last post), you could just have that money temporarily and actually owe it to someone you aren't disclosing. Or whatever other possible scenario. Some bank will deal with you, but that's because they specialize in it and ran their own numbers and will likely charge you more. Since you ARE more risk....... I don't know your actual situation, so I might have missed the mark, but the principles apply.

    There is no magic. You charge a % that will on average make you money, but in most scenarios, I don't think that spread is 5%. (But I don't know all industries).

    I agree with this thought process. I have been ready to invest in the "well known" vehicles like real estate during a recession for a long time now. I missed the last buying frenzy as I was still building my business, but this time I am ready.
     
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  8. GlobalWealth
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    GlobalWealth Platinum Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    I know a couple of banks that pay 3-5%

    Sent from my VTR-L29 using Tapatalk
     
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  9. MJ DeMarco
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    There are no inconsistencies other than your lack of understanding.

    Just because you don't understand something, doesn't mean it is inconsistent.

    In other words, you've interpreted what I've written it in a vacuum. Investing doesn't occur in a vacuum.

    The best investments for 5% change and are cyclical. It could be bonds, it could be sovereign debt, it could be banks, it could be munis, it could be REITS, it could be dividend stocks.

    I've detailed on how this works right here, and in real time.

    Money System Management: Real Example, Closed-End Fund

    I'm guessing you didn't bother reading that. That fund pays more than 5% when taxes are taken into consideration. And I showed how I manage it based on "a ten second peek." (I don't own it now and did not suffer in its decline.)

    Some assets I DO own ...

    Southern Company - Pays a 5.25% (Disclaimer: I own it, started buying AFTER the big declines)
    Holly Energy - Pays a 8.8% (Disclaimer: I own it.)
    AT&T - Pays 6.04% (Disclaimer: I own it.)
    LTC - Pays 6.46% (Disclaimer: I own it.)
    STAG - Pays 6.06% (Disclaimer: I own it.)

    None of these investments require a significant time output.

    However I will admit that I peek at these daily (not weekly) simply because I own another business in the financial space involving options. (That business is detailed in a 40 page thread on the inside.)

    Because I'm already eyeballing the market in that business, I do look more so than say, the average person.

    And finally, no financial instrument is immune from a financial apocalypse. If a 2008 or a 1987 "event" occurs, EVERYONE will take a hit, some more so than others. The "others" that will take it on the chin are the folks who use the markets for wealth accumulation, not capital deployment, liquidity, and income.

    I am in the latter.

    Money market cash is also an investment --while a 2% return is nothing exciting, it's better than a stock that loses 20%.

    I would NOT also recommend allocating your entire nest egg into the market, but only what you want from the "Paycheck Pot."
     
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  10. e_fastlane
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    e_fastlane Contributor Read Millionaire Fastlane

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    I am not being difficult on purpose. I may be wrong and maybe I have just not heard it explained in a way that jives with my brain.

    The way I see it; Your reply does more to substantiate my point of view (investing becomes a job) than what I am interpreting is your point of view (it takes minimal work).

    You are surrounded by investment talk and news about specific markets. So yea, I understand that with your proverbial ear to the ground, you only need a few extra moments per day to turn that into actionable intelligence. But that's a huge assumption. Shouldn't we approach this the same way your "Starting a business" teachings are done. The assumption should be that I am NOT currently immersed in the investment, market or business world. Outside of doing the initial "research" into the meaning of the vehicles, anything I have to do outside of that is no longer an initial learning investment and is now in the "my job" category.

    Let me try to approach this from a different angle. If I do a search on your forums for similar questions as mine, I can pull up multiple threads. Each one ends without a concrete answer. Sounds like a market opportunity! If you are confident in your ability to invest in the market and reap around 5% take home pay (averaged throughout all years), why not offer that as an opportunity? Or even better, why not provide a loan type opportunity.... I guess that is kind of what an Annuity offers, right?
     
  11. MJ DeMarco
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    Already being done. It's called an annuity.

    and two...

    Ya mean start another business and deal with stringent government regulations, the SEC, and a swath of employees?

    Sure, let me get right on that.
     
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  12. Mattie
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    Mattie Platinum Contributor Speedway Pass

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    Just from my perspective and I could be wrong, but seems from this statement, you are searching for an easy way to learn about finances without making the investment yourself. While M.J. wrote his book gave his message. Since I've been in this forum since I read his first book back in 2014, I've understood one simple thing. M.J.'s my mentor, I value his lead, but this doesn't mean M.J. is going to do the leg work for me and give me every answer along the way about finances, business, entrepreneurship, and hold my hand through the process to make sure I learn all the bits and pieces of being an Entrepreneur.

    He points the way bottom line. It's up to the reader to further investigate the topic. Although, I don't argue with him. I just listen to him, understand he obviously knows something, or else he wouldn't be where he is today. And I've grown a lot from this forum. I plan on reading the book this week myself, but still I know to do further research with relying on him to give me the answers and solutions.
     
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  13. e_fastlane
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    I am not. Since everyone is misunderstanding my point, I am obviously not portraying it correctly. I will try again.

    Every one of these answers substantiate what I have been saying all along. Investment has to become a side job. This isn't "Now that you made money, the money can make money for you on it's own and you can ride off into the sunset". That is how I interpreted the last part of the book. This is what didn't pass the sniff test for me. Judging off the responses, obviously I misinterpreted. But from my point of view, many people are still selling short just how much 'work' it really is. Many of you just seem blind to that, since it has probably become your hobby and you do not feel like sitting on the forum reading about things is 'work'.

    The distinction sounds frivolous, but it is in fact very important. I do not shy from hard work or putting time into things. But at the current time, the ROI on my time is much better spent in my business. The end of the book made it seem like this might not be the case, if it just takes "10 seconds every morning". But I have reaffirmed that it is in fact the case.
     
  14. JScott
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    I'm not sure if this will help you toward your answer(s) or not, so feel free to ignore if this is all obvious and doesn't help you...

    Investment return is going to be correlated to three things:

    1. Knowledge
    2. Time/Effort
    3. Risk

    In general, the more knowledge you have in an investment vehicle/asset class, the more time/effort you're willing to put in and the more risk you are willing to assume, the higher the potential returns.

    If you have little knowledge and want something passive and low-risk, you're likely looking at sub-4% returns using CDs, bonds, annuities, treasuries, etc.

    As you develop some expertise in an asset class, as you are willing to devote more time/effort into evaluating deals and underwriting and as your risk profile expands, the ability to generate higher returns emerges. You don't need all three of these things to get higher returns (though it helps), but you need at least one or two of them.

    My recommendation is to think about those three things (knowledge, time/effort, risk) and decide where your comfort level is with each. Are you willing to do a lot of upfront study to learn a new industry or asset class? Are you willing to spend a lot of time searching for, negotiating and underwriting deals? Are you willing to accept higher risk of loss in your investments in return for higher returns (gamblers think of this as expected value versus variance)?

    Once you know how much you're willing to deal with each of those things above, you can then start to evaluate your investment options and see what kind of returns you'd likely generate.

    For example, if you're willing to do a little study, a little upfront work and accept some risk, you can probably make 8-10% investing in private placements, funds or syndicates (real estate is most common, but there are plenty of other asset classes that provide these types of investments).

    Perhaps you're willing to put in a decent amount of effort studying and you're willing to spend time underwriting deals? In that case, you can become a lender within any of several asset classes (depending on your risk profile). This can up your returns to 10-12%.

    Perhaps you're willing to spend a lot of time studying and a lot of time underwriting deals -- you can probably earn 8-15% from real estate investing. If your risk tolerance is a good bit higher (and if you're okay with high variance investments), you can probably do the same thing by investing in businesses and earn 25-50% annually, with the potential to earn exorbitantly higher returns if you get lucky.

    Perhaps you have tons of time, are willing to put in tons of work and are okay with some risk -- you can start a business and potentially generate nearly infinite returns.

    When you combine all the ways to invest (debt, equity, control, etc) with all the asset classes available (commodities, real estate, businesses, services, etc), there are more investment opportunities than you can probably imagine. But again, the returns you would make from any of them all boil down to the amount of knowledge, time and risk you have...
     
    Last edited: Jun 5, 2018
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  15. JScott
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    See my post above...

    What you describe here is certainly possible. The question is what level of return do you need in order to "ride off into the sunset?" This will depend on your starting capital and your "nut" (your expenses).

    If you have $10M you're looking to invest and would be happy living on $200K/year, it wouldn't be at all difficult for you to never have to think about working or investing again. But, if you have $2M you're looking to invest and want $500K/year, you're not going to generate that anywhere near passively.

    Only you know those two numbers, but based on them, it shouldn't be too tough to figure out whether you're close to be able to "ride off into the sunset" or not...
     
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  16. e_fastlane
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    e_fastlane Contributor Read Millionaire Fastlane

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    THANK YOU.

    Both of your replies are very clear and are great explanations. I appreciate the time you took to write them. Your explanation is roughly my understanding of the topic, and what I was interpreting from others posts/books seemed to be at odds with it.

    Based on my current savings, 2% is enough to live well on and "ride into the sunset". Unfortunately this doesn't account for inflation, which makes the realistic number have to be 5%.

    Honestly, I know I will never actually "ride into the sunset". My hands will always itch to do more. I love to learn and I know at a certain stage in my life, learning to invest my money will be a great option. But till then, I guess I will have to accept inflation atrophy on my money as the cost of doing business.
     
    Last edited: Jun 5, 2018
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    jon.a Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    There are 1000's of way to invest your money.

    I suggest finding a way that holds your interest and study until you're good at it. Start as small as allowed and scale into it. In time you will naturally be exposed to similar opportunities but just different enough to provide some diversification.

    In our case, our rental experience plus some extra study has helped us to expand into MF equity syndicate and debt fund investing.

    I appreciated the little bit that @MJ DeMarco put in Unscripted, it validated our plans.
     
  18. IGP
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    Maybe it's just me, but I wouldn't consider "financial literacy" a new job.

    Now, I am not saying you are illiterate, so please don't take that the wrong way.

    What I mean is:

    You've done a great job at accumulating wealth! Don't you feel like it's in your best interest to learn how to preserve and increase that wealth?

    That shouldn't feel like a job. That should be a natural progression and a skill that you can utilize for the rest of your life.

    Literally, the best investment you can make at this point in your life.

    After all, you can't hire someone and know if they are doing a good job if you are not at least somewhat competent in the area that you hired them for.
     
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  19. JScott
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    Two things to keep in mind:

    1. The more money you have, the smaller percentage of it you'll need to cover your annual "salary." Which means you'll have more income to cover inflation, principal growth and additional "salary." You only have $X now, but you'll likely have $Y in the future (where Y > X), and covering inflation using passive investments like CDs and treasuries will become much easier.

    2. These days, it's difficult to cover inflation (Fed predicts 2%+ inflation over the next couple years) with fixed income, low-risk investments (CDs, treasuries, etc). But, that's because we're still at pretty much an historic low with interest rates. I don't know how old you are, but it seems like you're young (or relatively young). It's likely that in the next several years, interest rates will rise, which means that fixed interest, low-risk investments (again, like CDs, treasuries, bonds and even savings rates) will likely generate returns that outpace inflation.

    If you can theoretically live on 2% returns on your current nest egg, just wait a few years until your nest egg grows and interest rates rise -- you'll be living on easy street...
     
  20. pwilliams84
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    pwilliams84 Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Ideas:

    Call up a discount brokerage firm and ask for the fixed income specialists. Ask for a bond ladder proposal for X% of your investment portfolio. This will be naturally diversified across various credit ratings, maturities, and industries in order to achieve your target yield. If this is non-retirement fund money, look to incorporate munis to reduce tax liabilities - they should do this anyway.

    Throw some into an annuity as well.

    Throw some into real estate and hire a property manager.

    Invest in other long term alternative investments. Not a fan of crypto and don’t own any myself, but if it’s a long term play why not?

    Throw some into ETFs and sell some covered calls expiring 45days out. Profit off of time decay. Maybe you miss out on some upside and it gets called away once every 6 weeks. Who cares? You only want like 5% anyway - you will make that in that scenario. Rinse and repeat.
    Maybe it trades sideways? Good, you made premium.
    Yes, you can lose everything..if every constituent goes to zero at the exact same time..which I hate to tell you this but if that happens your money will be useless anyway.
    If it drops 10%, sweet, buy back your calls for pennies and now sell new ones for higher premium because volatility is up and you’re getting paid more.

    If you don’t like any of that, then right back to the original plan - just throw it in an index fund and move on with life.


    Sent from my iPhone using Tapatalk
     
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  21. biophase
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    biophase Legendary Contributor I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    It's really odd that you view learning about investing as a chore. As others have said, it is risk vs reward. If you don't want to risk your nest egg and don't want to learn about anything, take the 2% from the bank and be happy.

    There are many investments that take a minimal amount of learning in order for you to understand them. Think if you would have put in a few weeks of education 5 years back, your money from 2013 could be worth 5% x 5 years by now. Is this not a reason to learn? You say that you get better ROI investing time in your business, but I would challenge you to do the numbers over the next 10 years and see what the better time investment is today.

    And finally, one fairly simple way is to purchase real estate, hire a PM and collect checks and get 4-5% without even really trying.
     
  22. Mattie
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    Mattie Platinum Contributor Speedway Pass

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    In my personal situation. I would say from M.J. sharing his story and probably being close in age with me, and similar circumstances, I probably would say, there's an illusion here you're not seeing clearly. Obviously if anyone read his story, "Where did it begin?" Did he ever say anytime it was over night success?

    If I remember right the last four years he's always stated, "There's a process." A process means there is a lot of pieces and parts to the equation. If you listen to his video's and other material, he states, "There is no secret sauce, quick fixes, over night success."

    I think you have to look at all the material given and the bigger picture of it. How many pieces of the puzzle are there. And yes, the average person will not have the drive, determination, the grit, the self-discipline to work their ass off with no short-term gains and short-term rewards. Those of us who get it, are not blind. We're not stupid. And I don't feel he's pulling the wool over my eyes.

    I've also watched Entrepreneurs all my life sacrifice their time with family, having fun, and the long-term picture of laying a strong foundation for future generations. Through that whole process and empire is built.

    I understand this is a lot of smart choices, educating yourself, applying it, and doing the inner work. If I thought this was my hobby, I wouldn't be in the forum. "Hobby Mindset" and "Entrepreneur Mindset", is two different things. You don't waste your time educating yourself, disciplining yourself, and just do it in your spare time. As a writer myself, that's just part of the job.

    You have critics, bad reviews, and your audience picks apart everything you write, because of their specific interpretation of the message. I've had people tell me I don't know what I'm talking about, because they're not at the same level of me in their personal growth, evolution, and psychological development.

    Sure, I know what I am talking about, but other's aren't at that level yet, and have false beliefs. There is no perfect way for M.J. or any writer to be perfect in trying to explain whatever subject they're writing and make everyone happy in the audience. He knows that just as much as I do.
     
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  23. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Your "job" is to continually educate yourself.

    If you're looking for an excuse to stop your education, especially in the world of money management and finance, you're not going to get that from me.

    That said, the solution is really simple.

    Don't educate yourself in money management and simply go buy an annuity.

    Or take 1 to 2% from a bank or money market. (In the last 10 years, it's actually been .05%)

    Problem solved.

    You'll never have to look at it again, just set the brokerage account to send you $X thousands per month and be done with it.

    Just make sure you've stockpiled enough to account for near-zero growth and inflation. Essentially, your "number" would have to nearly double. And this strategy isn't much different than mattress stuffing.

    IMO, you can retire from everything but education.
     
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  24. e_fastlane
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    e_fastlane Contributor Read Millionaire Fastlane

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    Thank you guys for all the replies. You have given me alot to think about.

    I am NOT one to turn a blind eye to learning. But once again, we all only have so much time and there is more than one direction that learning can occur. I am always reading and learning. So that's not the issue. Deciding what topic to learn about generally comes down to my current priorities and values.

    That being said.

    Fundamentally I do agree that managing money is where my financial life will eventually lead. So you are right; There is no better time than now to start making progress. My business partner and I have instituted a mandatory 2 hours a day twice a week where we will spend our work time on investment-only topics. I know it doesn't sound like much, but I've found that progress begets progress and we have accomplished alot by simply doing a small actionable step at a time.

    It looks like there are alot of investment opportunities to familiarize myself with. So thanks again for the pointers.
     
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  25. HackVenture
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    HackVenture Digital Marketer, Crypto Guy Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Interesting thread. Also interesting to think that I've been voraciously reading on how to "manage my money" even back when I didn't even have much yet lol.

    Lots of people would be willing to provide this "opportunity". Barring regulations etc, it's hard to convince clients to believe it.

    I personally know friends who've been burnt 7 figures on deals like this.

    Nothing stopping a bad actor from taking your money and going all-in on some shitcoin on the crypto market and praying for 200% returns and giving you 5%; if he loses the bet, he loses nothing and is thus incentivised to be super aggressive.
     
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