Your Survival Guy

Preparing your investments and family for when disaster strikes.

Disclosure

What Does It Take to Be A Successful Investor/Survivor?

By

By MPH Photos @ Shutterstock.com

What does it take to be a successful investor? Good question. How about this—what does it take to be a successful survivor? Do you really need the word “successful?” You either are, or you’re not. Right?

Being an investor shouldn’t be confused with being a speculator—someone who hopes prices go up. An investor thinks about the work that goes into creating generational wealth. The best way I know how you do that is by being an investor in yourself.

I learned a great lesson about being an investor when delivering newspapers as a kid. One of my customers tipped me four nickels for every dollar, or 20%. That was a good tip. He could have “afforded” to tip a lot more, but I think he enjoyed teaching me the math of it.

By being an investor in myself, I could get more houses to deliver to, keep the existing ones with good service, and the tips would add up. Rubbing two nickels together wasn’t going to make me a millionaire, not yet, but I was learning the process.

Action Line: There’s plenty of ways to separate you from your money. Penny stocks are one—trading cryptos may be another. Think about how you made your money like I did—one paper at a time—or one shift at a time, etc. When you remind yourself of how long it took to make what you have—what you had to do—you won’t be separated from it so easily. You’ll be an investor. You’ll be a survivor.

The following two tabs change content below.
My Twitter profileMy Facebook profileMy Instagram profile

E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com