It was my rich dad that stressed to me that your home is not an asset but a liability.Financial intelligence is not so much how much money you make, but how much money you keep, how hard that money works for you, and how many generations you keep it for.If you simply turn your money over to a mutual fund or to an adviser, you may have to wait until you are 65 to find out if that person did a good job. I recommend learning to be an investor rather than giving your money to somebody else to invest for you.If history is an indicator, a person who lives to the age of 75 should anticipate going through one depression and two major recessions.Successful of rich investors do not diversify. It’s not an investment strategy for winning. Why because the strategy of diversification is an investment strategy for “not losing”. Diversification: People who seek security use the word diversification a lot.Many people are so afraid of losing, they choose not to invest or risk their money at all no matter how much money they could make in return.Every day I meet a lot of people who make a lot of money, but all their money goes out the expense column. Ultimately, it is not how much money you make that matters but how much money you keep and how long that money works for you. ![]()
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