Happy Monday. Who’s got your back in times like these when everyone’s making money, money, money? Let’s not forget when the music stops, not everyone’s going to have a chair. Like a broken record, there are always more investors than you’d expect who will be pushed to the floor. Happens every time. “It won’t happen to me,” is a common refrain.
When I think about how hard most of you have worked to create what you have, I know come Monday, you got up and went to work. And the next week, same thing. Rinse, wash, repeat. That’s a lot of years and a lot of hours. Imagine having to do that all over. You can’t. There’s not enough time. It’s why I’m never short of amazed at how careless investors are with their money.
Because it’s money that’s a symbol of all that hard work. A symbol of hard work you can’t ever do again. You can’t go back to your early 30s with little kids at home and a mortgage to pay. That was a precious time—you were in survival mode—an incredible motivator. But what happens when the motivation is gone and your carelessness creeps in?
Action Line: When interest rates are nailed to the floor, don’t expect the markets to do something for you. You never lived that way in the past. You pulled yourself up by the bootstraps because there was too much riding on the fact that if you didn’t, there’d be problems. Look after every single dollar like you did when you had none, and you’ll end up living the retirement life you always knew you wanted to live.
E.J. Smith - Your Survival Guy
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