It Is Your Money

create and protect your own wealth

 

No one cares more about your personal finances than you do - unless they plan on stealing your money.

Everyone naturally cares first about their own personal finances. Financial advisors can feed their kids, and buy a new yacht, if they help enough people part with their money for the financial products they so sincerely endorse.

Sincerity is the most important thing - once they can fake that they have it made.

The old generational generalization -- "shirtsleeves to shirtsleeves in three generations" is a memorable adage - but only because it is generally true. The first generation works to develop and protect their wealth - the second trusts that wealth to advisors - the third generation is back working in shirtsleeves

One of the ways this generalization is false is that it implies too long a time. The evening news frequently carries stories about movie, rock, and sports stars that have gone from poverty to wealth in a very short time - and then back again; frequently a financial advisor is blamed.

 

How To Make A Million Dollars Investing --

Start with two million dollars.

 

An old story talks about a broker in New York talking to a client about the yachts anchored in the harbor. "That huge yacht belongs to our owner, that yacht there belongs to our top stock broker, that blue one is our economist's yacht." The client then asked; "where are the customer's yachts?"

As an observation -- most brokerage customer's yachts are anchored in their bath tub.

Joking aside, the time you spend learning about managing your own money is very valuable time. A money manager will be concerned with how he gets paid, and then may be concerned with what investments he recommends.

No one cares more about your money than you do; unless they plan on taking it from you.

If you are to succeed, realize it is you that needs to be in charge of your future.

 

Learn how to speculate.

 

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