fastlane_dad
8 Figure Fastlane Graduate
FASTLANE INSIDER
LEGACY MEMBER
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
This thread is not super FASTLANE inspired - but if there is one non-fastlane thread that you pay attention to and take action on THIS IS IT.
If your plan IS to make FASTLANE money – you should start building your mental game to handle that money -- starting TODAY and I will show you exactly how to do that and where to begin!
Please follow me along on this thread as this will jumpstart you way ahead of the game on the investing journey. And there’s nothing that can prepare you better (aka. become a smart and patient investor) other than pure time in market and experience, which you will gain if you start with some of the basic advice I give here!
ALSO - a quick disclaimer – I am not a certified financial advisor and please do not take anything on this thread as financial advice. Do your own research. Consult a professional if you so choose.
What I’m going to give a brief rundown on today is INVESTING – mainly investing in the markets (equities and bonds) – and why it is imperatively important to start doing this DAY ONE when you read this.
Why do I like and RECOMMEND passive, hands off investments like this ?
Because I need time and history tested method to easily invest in that can keep and grow my wealth – while still diverting majority of my focus on other fastlane businesses I’m working on building up! This gives me a plan and direction – without having to keep checking and rechecking my actions daily. Best of all – this plan works for ME, and chances are it will WORK FOR YOU given a long enough time span.
I waited to learn the simplicity of DIY investing until I was years into my FASTLANE business. My personal example is that I was making upwards of $3MIL / year, spending only very little of that annually.
What did I do during that time? Let all my money SIT IN CASH! Core reason for that is that my MENTAL COMPOUNDING game had not been properly established. I'm writing this thread because I believe that if I came up on a thread like this years ago, I would of been significantly richer by now !
I was pre-occupied with making money, and everything else fell by the wayside.
I was afraid of investing, did NOT trust financial advisors – and felt like maybe there’s a BETTER use of my money – coming in around the corner.
I kept putting this off, and not only losing the possible returns I could have had along the way – but WORST OF ALL, not building my mental fortitude of emotional compounding to learn how markets fluctuate, how I withstand and tolerate risk, and learn proper time horizons to let wealth grow.
Most people leave this OFF to their employers, or their ‘financial advisors’. Worst case scenario is that some NEVER do this, or wait until it is TOO LATE.
What I am showing and advising you to do is NOT a get-rich-quick scheme. This is NOT your ‘fastlane plan’ – you have the rest of this forum to consult and work on that.
What I’m showing you here is something you MUST start even if you have absolutely ZERO knowledge on anything else fastlane related. This will be one of the best actions you can take – where your future self will thank you.
Most financial articles, advisors and gurus focus on how important FINANCIAL COMPOUNDING is. What I’m working on showing you is that its just as important to compound your mental strength to be prepared to handle large wealth for when it comes.
If you currently have $50, $1000 or $1MIL it doesn’t matter.
You need to establish mental fortitude in seeing your wealth ride up and downs of the markets. If you start this by 18, in twenty years (when you are 38) you will have 20 YEARS of experience doing this. This is nothing to sneeze at – especially if your career / fastlane business is at the peak during those years.
So brief points on things to consider and HOW to start
1 – Open up a Vanguard , Fidelity or any other low-cost brokerage accounts.
2 – A conservative place to start is to split your investing between 50% stocks and 50% bonds. Think something like the following - US equities and Bonds ETFs (VTI and BND).
3 - Once a week / month etc invest a consistent amount you are comfortable with. If you only got $50 and want to keep it even more simple, invest in a single fund (such as FBALX) – they don’t have a minimum and will spread the allocation for you.
4 - For a slightly more intricate plan you can do US stocks, International Stocks and US Bonds at a ratio of 60/10/30 or some other percentage depending on your willingness and ability to take risk. I use that percentage myself for my risk and time horizons.
If you want to learn more, and customize the portfolio to your risk tolerance, look up (three fund portfolio) and base your allocation on your variables that are more important to you.
There are many lessons in this that will be parallel to building up a fastlane business, process and fortitude required to build something successful.
Good luck on moving forward, and if you have any questions on the advice above please feel free to ask! Please don’t hold off and start taking action on this today no matter your age as proper investing (especially in DIY form) will reward you for years and decades to come in the future.
If your plan IS to make FASTLANE money – you should start building your mental game to handle that money -- starting TODAY and I will show you exactly how to do that and where to begin!
Please follow me along on this thread as this will jumpstart you way ahead of the game on the investing journey. And there’s nothing that can prepare you better (aka. become a smart and patient investor) other than pure time in market and experience, which you will gain if you start with some of the basic advice I give here!
ALSO - a quick disclaimer – I am not a certified financial advisor and please do not take anything on this thread as financial advice. Do your own research. Consult a professional if you so choose.
What I’m going to give a brief rundown on today is INVESTING – mainly investing in the markets (equities and bonds) – and why it is imperatively important to start doing this DAY ONE when you read this.
Why do I like and RECOMMEND passive, hands off investments like this ?
Because I need time and history tested method to easily invest in that can keep and grow my wealth – while still diverting majority of my focus on other fastlane businesses I’m working on building up! This gives me a plan and direction – without having to keep checking and rechecking my actions daily. Best of all – this plan works for ME, and chances are it will WORK FOR YOU given a long enough time span.
I waited to learn the simplicity of DIY investing until I was years into my FASTLANE business. My personal example is that I was making upwards of $3MIL / year, spending only very little of that annually.
What did I do during that time? Let all my money SIT IN CASH! Core reason for that is that my MENTAL COMPOUNDING game had not been properly established. I'm writing this thread because I believe that if I came up on a thread like this years ago, I would of been significantly richer by now !
I was pre-occupied with making money, and everything else fell by the wayside.
I was afraid of investing, did NOT trust financial advisors – and felt like maybe there’s a BETTER use of my money – coming in around the corner.
I kept putting this off, and not only losing the possible returns I could have had along the way – but WORST OF ALL, not building my mental fortitude of emotional compounding to learn how markets fluctuate, how I withstand and tolerate risk, and learn proper time horizons to let wealth grow.
Most people leave this OFF to their employers, or their ‘financial advisors’. Worst case scenario is that some NEVER do this, or wait until it is TOO LATE.
What I am showing and advising you to do is NOT a get-rich-quick scheme. This is NOT your ‘fastlane plan’ – you have the rest of this forum to consult and work on that.
What I’m showing you here is something you MUST start even if you have absolutely ZERO knowledge on anything else fastlane related. This will be one of the best actions you can take – where your future self will thank you.
Most financial articles, advisors and gurus focus on how important FINANCIAL COMPOUNDING is. What I’m working on showing you is that its just as important to compound your mental strength to be prepared to handle large wealth for when it comes.
If you currently have $50, $1000 or $1MIL it doesn’t matter.
You need to establish mental fortitude in seeing your wealth ride up and downs of the markets. If you start this by 18, in twenty years (when you are 38) you will have 20 YEARS of experience doing this. This is nothing to sneeze at – especially if your career / fastlane business is at the peak during those years.
So brief points on things to consider and HOW to start
1 – Open up a Vanguard , Fidelity or any other low-cost brokerage accounts.
2 – A conservative place to start is to split your investing between 50% stocks and 50% bonds. Think something like the following - US equities and Bonds ETFs (VTI and BND).
3 - Once a week / month etc invest a consistent amount you are comfortable with. If you only got $50 and want to keep it even more simple, invest in a single fund (such as FBALX) – they don’t have a minimum and will spread the allocation for you.
4 - For a slightly more intricate plan you can do US stocks, International Stocks and US Bonds at a ratio of 60/10/30 or some other percentage depending on your willingness and ability to take risk. I use that percentage myself for my risk and time horizons.
If you want to learn more, and customize the portfolio to your risk tolerance, look up (three fund portfolio) and base your allocation on your variables that are more important to you.
There are many lessons in this that will be parallel to building up a fastlane business, process and fortitude required to build something successful.
Good luck on moving forward, and if you have any questions on the advice above please feel free to ask! Please don’t hold off and start taking action on this today no matter your age as proper investing (especially in DIY form) will reward you for years and decades to come in the future.
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