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
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
How To Make A Million
Dollars Investing --
Start with two million dollars.
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?"
an observation -- most brokerage customer's yachts are
anchored in their bath tub.
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.
one cares more about your money than you do; unless
they plan on taking it from you.
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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