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One Thing: Day 82: Amazon and Apple Stock
Day 82: Amazon and Apple Stock
Last week I was explaining how ‘If you buy stuff… you end up with STUFF.’
And how all that ‘stuff’ will reward you with a job at a hardware store rather than sailing on a boat in your retirement.
I can hardly hang a picture… if all goes sideways for me expect your grandkids to get some insanely poor advice at the hardware store.
Anyhoo…
If you want to retire wealthy… commit these to memory/tattoo them on your brain.
The financial world is a 10 year Ferris Wheel
Money is easy to make but INSANELY HARD to keep
It takes approximately 8.5 years for the Ferris Wheel to go up and then about 1.5 years to go back DOWN.
For 8.5 years everyone makes money… and then they GIVE IT BACK over approximately the next 1.5.
Feel free to test my theory over the past 150 years to see if I’m right.
You likely don’t need to because your bank account actually lived it…
… Don’t worry I just got a *twitch* too.
I got a ton of emails/comments about something at the bottom of my post on Thursday…
The tribe has spoken and therefore your ONE THING today:
“Become an Investor Rather Than a Consumer.”
This is a total and utter paradigm shift for many I’ve helped.
A totally different way of viewing yourself.
Buy Apple stock rather than ANOTHER new iPhone.
Buy Louis Vuitton stock this Christmas rather than ANOTHER overpriced handbag.
Buy Nike stock rather than ANOTHER pair of shoes.
Buy Amazon stock rather than getting ANOTHER amazon delivery
And before you exercise the above stock purchases here are two RULES (an investor MUST have RULES!!! Seldom do) I’d encourage you to follow if you’re going to stop spending and start investing.
Rules
1. Don’t buy stock or a piece of real estate that you’re not committed to own for a minimum of ten years
2. Don’t invest 5 cents until you study (ideally, APPLY) “dollar-cost averaging.”
You heard it here first.
Well, you might have heard something similar from Warren Buffett for 25 + years and every time he gets interviewed…
Clearly no one is listening and they keep giving their money back every ten years so I’m taking credit.
The end.
Obsessed with your business coaching success,
Karl Bryan aka King Karl
PS. Amateur investors think of what could go right. Professional investors think of what could go wrong.
PPS. You’re running out of time (Friday) to leave a review and enter the draw to my guest in Cancun for Business Coaching Mastery 6 (BCM6).
Listen to my new Podcast here:
Missed a day? Catch up here.
Karl Bryan, creator of Profit Acceleration Software™
Karl is the Founder and Editor-in-Chief of The Six-Figure Coach Magazine and Chairman of Focused.com, home of the largest private community of Business Coaches (24 countries and counting) in the world. His goal is straightforward… to help serious coaches/consultants get more clients. Find out more at focused.com
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