$1.4 million and "scared to death"
Someone commented on one of my videos that they have $1.4 million saved and they're "scared to death."
I don't think more money would fix that. Once the paycheck stops, every bill comes out of that balance, and the market decides whether it holds up. You end up checking a number and hoping. There's no size where that feels calm.
What feels calm is money that shows up every month on its own.
I learned that the long way. For years I did flips, and on some of them I worked hard and barely made any money, while the lender on the deal didn't have to lift a finger. After a few of those, I decided I should be the lender too.
Money that shows up every month without you working for it is a really nice place to be. It's a beautiful thing when it lands. Like any investment, a note carries risk, so I do my own homework before I lend.
You don't need every bill covered that way to feel the difference. Each bill paid by income that arrives on its own is one less bill riding on what the market does that month. The balance starts to matter less, because you've stopped living off it.
So here's my question: if your bills were covered every month without touching your savings, what would you do differently?
One line is plenty. I read every reply myself.
As promised, income over wealth in under a minute.
- Dan
I don't think more money would fix that. Once the paycheck stops, every bill comes out of that balance, and the market decides whether it holds up. You end up checking a number and hoping. There's no size where that feels calm.
What feels calm is money that shows up every month on its own.
I learned that the long way. For years I did flips, and on some of them I worked hard and barely made any money, while the lender on the deal didn't have to lift a finger. After a few of those, I decided I should be the lender too.
Money that shows up every month without you working for it is a really nice place to be. It's a beautiful thing when it lands. Like any investment, a note carries risk, so I do my own homework before I lend.
You don't need every bill covered that way to feel the difference. Each bill paid by income that arrives on its own is one less bill riding on what the market does that month. The balance starts to matter less, because you've stopped living off it.
So here's my question: if your bills were covered every month without touching your savings, what would you do differently?
One line is plenty. I read every reply myself.
As promised, income over wealth in under a minute.
- Dan