In speaking with a prospective client over the last couple of weeks, I’m here to tell you, the key to his success is TIME. At 90 years old, he’s compounding big numbers. He’s been doing it for years. He credits my father-in-law’s Richard C. Young Intelligence Report for his success. “It kept me on course,” he said.
The reason we’re talking now (we also spoke five years ago) is that he lost his wife. He feels it’s time to make sure the portfolio is in good hands for his kids. “They don’t have a lot of interest in this stuff,” he said. “But they understand the Richard C. Young Intelligence Report way.”
He’s in great health. He has simplified his life. He’s consolidated all of his accounts at Fidelity. It will be easy for us to work together. The key for him is to continue the strategy of compounding that has worked so well, and to carry that on for several more years.
I can’t wait to talk with him again later today. These are some of my favorite conversations. Real easy, real calm, and just a casual conversation in a world full of chaos.
Action Line: It’s never too early to begin compounding money. I believe getting started is the hardest part—then after a while is’s easy because you see how fun it can be.
