I get a lot of questions about investing. Often guys write very long, detailed questions and scenarios regarding how to invest, where to invest, how to make a lot of money investing, and so on. Investing is a fun and interesting topic for a lot of men (myself included) and a lot of guys get really excited and animated about this.
That’s all well and good, but if this is the part of your financial life that is taking most of your emotional focus, then you’re making a mistake.
Investing is an important and core skill for the modern-day man. The days where you could rely on your corporate pension or even your 401K (or the American equivalent if you live outside of the USA) are long, long gone. Today, you must manage and plan your own retirement, since neither your employer nor the government is going to do it for you (unless you plan on living in poverty during your retirement years).
At the same time, it’s not your investments that will make you rich. It’s not your investments that will achieve any of your financial goals. I mean that. It’s your business that will make you your money, not your investments.
Your business will take you from zero to whatever income goals you want. Your investments will not do this. Instead, your investments are a safe repository (or at least should be!) for the money you’ve already made in your business.
I’ll give you some specific, numerical examples to describe what I’m saying.
Most years my investment portfolio will make something like a 6% return. In 2017 I made 122%, which was great, but that was extremely unusual. Let’s compare that amazing and rare 122% to the typical returns I get in my business.
Last year I put several thousand dollars into something in one of my businesses and received a 4500% return over the next five months. A few months before that I put some money into a marketing campaign and made a very quick 700% return. Just before that, I put a few thousand dollars into one of my web sites and received 1100% return.
Please give me some investments where you can reliably make these kinds of returns.
And that’s my point.
I can make multi-thousand percentage returns in my businesses almost whenever I want. But if someone makes a 50% or 100% return in their investments over an entire year, that’s considered amazing.
This is why I focus my emotional energies and my money-making time on my businesses, not my investments. Yes, I spend some time on my investments, but its easily a 1-to-100 ratio. For every one hour I spend on my investments, I spend at least 100 hours on my businesses, and most of that time in IW (improvement work, work that increases my income). Hopefully you can see why.
Thought, time, and money invested in your business will get you far, FAR more cash than thought, time, and money invested in your investments. It’s not even close.
Again, I’m not saying you don’t need investments. Investing is critical. I’m saying that if you’re spending a lot of your time trying to figure out how to make a killing in your investments, your focus is in the wrong place. That needs to be on your business. And if you don’t have a business, you need to start one. That new business has much greater potential to achieve your financial goals than trying to make money in bitcoin, Forex, peer-to-peer lending, the stock market, or whatever.
Treat your investments like I do; an important repository for the money you make from your business, not a place that will make you rich. That’s your business’s job.
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