Instead of NAV Erosion, Focus On Monthly Dividends (Also Tesla/MSTR Predictions)

Send us Fan MailSeason 2, Episode #58. Not Me, But You! Podcast. Investment involves risk. Let's NOT forget that. It's possible for you/me to lose money. So instead of looking for "the perfect investment" that is "100% guaranteed" and has "zero risk", instead focus on MANAGING your risk. That's the best you can hope for. On paper, if your investment "loses money" don't panic. Know that they ONLY time you ACTUALLy lose money is if you are silly enough to sell it at a loss! Successful investing is like riding a roller coaster. You have to EXPECT that there will be ups/downs. You have to hang on and get to the finish line. I talk about HIMS stock and how it recently dropped $20/share! What do you do? First thing NOT to do is panic. Then asses and come up with a plan/strategy of HOW you are going to manage the situation. Then go do the obvious. Go DO IT. Do NOT remain in "research mode." Take some action. Utilize "financial containers" like a Traditional IRA or a Roth IRA to delay or completely avoid paying taxes! Use these containters to your advantage. But don't let the idea of paying taxes STOP you from also investing and making profit inside your regular brokerage account. If you want true freedom, then you need to gain control over your time. How do you do that? By becoming "retired" which is the same as having enough monthly cash flow to MORE than pay for your bills. At that point, you can get up and spend your time each day, as you wish. Total freedom! When evaluating investments: look at the cost (per share), and the ROI. Is it a growth investment or a dividend paying investment? If it pays a dividend, what is the dividend history? But most of all, what is the yield (the ROI, the interest rate you earn on your money)? I touch upon the "Magnifcent 7" stocks. These are GROWTH stocks. They either pay a very crappy dividend or NO dividend at all! Know your investment goal BEFORE you start in investing (are you investing for growth or creating cash flow?) Bitcoin, is hands down, the best performing long term growth asset on the planet. So stack it (even $10 at a time). Do NOT sell it. Wait to become "fabulously wealthy." And then take a loan against a small portion of your Bitcoin stack. Poor people buy focus on buying things. Wealthy people focus on buying/holding assets. 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.