Ep #81- Wealthy People Play Defense- (Poor People Need To Play Offense When Investing)

Send us Fan Mail Season 2, Episode #81. Not Me, But You! Podcast. You can follow me on X: at Waypa Today. Wealthy people are playing defense when it comes to their investment strategy. They are ALREADY rich, so they do NOT want to lose money! However, if you are not already wealthy, but trying to become wealthy... then you need to play OFFENSE with your investments. What does that mean? You need to take some addtional risks that will pay you higher yields on your money. Think of the "yield" as "fuel."  But there are different "grades" of fuel. Poor people need "rocket fuel." Wealthy people are using a candle or charcoal or wood...something that burns slower than rocket fuel. If you want to become wealthy, you have to tune out the noise in life. Don't wast time with alleged "gurus" who masquerade as teachers but are really just marketing you something. And realize that people who have a portfolio worth $400,000 or $500,000, then you do NOT CARE if you only get 6% on your money each year! Do simple math: $400K times 0.06 = $24,000 per year. That's an average of $2,000/month. But this person already has a lot of money. Earning only 6%/year doesn't keep pace with the true rate of inflation each year. It doesn't keep pace with the shrinking purchasing power of cash every year. Wealthy people just pay whatever the higher price of any good/service is, because they can afford to pay more. But if you are looking to become wealthy one day...then you need to earn at least 14% on your money every year. And SOME ETF's pay OVER 100% per year. Are they risky? YES they are. But these "risky" ETF's with very high yields, are like "rocket fuel" for your investments. Wealthy people play "wealth preservation." Poor people need to play the "wealth accumulation" game. Take the profits (dividends) from high yield ETF's and invest SOME money back into "FREE" shares of the same ETF, but also ROTATE some of the dividend money into other things...into other less risky investments. Cash flow, cash flow, cash flow is the pathway to wealth. A cool book I have read recently is: "You Can Just Do Things" by Jay Yang. Some cool YouTube channels are: The Retired Lazy Investor and Dividend Compounders With...  The guy who does "dividend compounders" is named Amos. He seems authentic and genuine. He and the Retired Lazy Investor both have videos that talk about ULTY as an investment vehicle for income only. And on Sunday evenings, here is the USA, I like watching "Coopers Thai Adventure" on YouTube. He and a buy named Brooke Schneider, do a live stream on "Money Matters." Great channel and very helpful and knowlegeable people. Perfection is a myth. Just get started today. Even if things are messy, it's still OK. But TAKE ACTION today and start investing or ADD to your existing investments. Build CASH FLOW! Be uncertain, but proceed anyway. Procrastinators don't need more time. They need more COURAGE! Have courage today, to pick one thing, and work on your dreams. We will talk again soon. I'm not a financial advisor. This podcast is for education/entertainment purposes only. You will need to do your own research and accept responsibility for the results of any money you choose to invest. I love using Schwab.com to buy/sell stocks/ETF's/closed end funds/options. Schwab has a very user friendly app/website and their customer service is excellent. I can easily get to speak to a human being whenever I have questions.