In this Show
Most people are worried about investing before they even get their money right. The purpose of investing is to create wealth, not to conserve. Focus on yourself and invest time and energy into yourself. Get your income right. If you have $10,000 only, your first thought shouldn’t be about investing. 3 Things will screw up your investing: Early, Little, Diversify.
1.Start Early. Wrong. How can you know what you’re doing when you start when you’re a teenager? The idea is $50 a month will eventually get you wealthy. No it won’t. You’ll be 70 years old with $125,000.
2. Do Little Amounts. Wrong. It’s not about going little. You want to shove all in. Save into you have a lot.
3. Diversify. Wrong. This is what the middle class does and what Wall Street does. Wall Street depends on lots of tiny flows coming in every month from millions of people, $50 here and $200 there. You don’t need to diversify.
You’ve been told by society to invest early, little by little and diversify. It’s all wrong folks.
Watch what the rich do.