Healthy Living Online Course: The End of the Road

I’ve just about completed my online class about health and fitness. It was a great experience. The course gave me the opportunity to learn new information and review information that I already knew. Health is so important. As a young male, I feel that I don’t think about health enough. It wasn’t until the past couple of years that I started thinking about how much my consistent actions affect my future. The same is true for health. Black men aren’t invincible. The bad choices that I make today are going to have real rewards and consequences. The course helped me reflect on that.

My plan is to continue chiseling away at bad eating habits that I still have. Portion control, late eating, poor eating choices, and the works. These small changes will have a domino effect on the rest of my life. A healthier diet will help my workouts count more. I want to continue to build more muscle mass while coasting around the same weight.

I’ve created a plan to reach my goals and I’m excited to build new and improved habits. Cheers to continued growth!

 

Meal Log Reflection

Meal logging is something that I’ve done in the past, but don’t do much anymore. Taking my sister’s course about health has given me the incentive to start thinking about different ways to keep myself honest about my meals.

Over the past week, my diet has been a mixed back. Last Thursday was Thanksgiving and I ate like most households in America. Lots of protein, sugar, carbs, fats, and well-seasoned vegetables. And I ate leftovers until Sunday evening.

Throughout the week, I’ve been committed to eating well. My job brings catered lunch daily and their menu can be found here. This meal plan has served as my lunch and dinner with the excepted of buying a chicken gyro from a fast-casual restaurant yesterday.

My goal is to continue to make smart choices about food. I love the way that my body feels after eating a healthy meal. During the weekdays, it’s vital that I eat smart. A bad meal can mess up my productivity for the rest of the day. That’s why I consider diet so serious. On days where you’re relaxing, a cheat meal may not hurt as much in the grand scheme of things. When you have stuff to get done, it can make completing tasks difficult.

I’m glad that I’ve been challenged to reflect on my meal choices. It’s kept healthy eating at the front of mind. Now, it’s time to continue that tempo.

Diet and Success

In the coming weeks, my older sister is graduating from an instructional design program at Samford University. As one of her final assignments, she’s been tasked to create a comprehensive course using the skills that she’s gained throughout the program. And she asked her family for feedback on her course about health. So, now I’m in the process of going through the course material and one of the criteria for finishing the course is writing about your health habits.

Taking my sister’s course has made me realize how important a quality diet and workout routine are to my general health. I try to eat fairly clean (except for holidays and special occasions) and workout roughly four times a week. Last Thanksgiving, I ran a half-marathon. I’m a pretty active guy.

But over the past few weeks, I’ve been forced to think more about health. At a charity dinner, I sat next to a man with prostate cancer. He gave me the advice to include wheat, honey, and cinnamon in my diet. I passed that along to my fraternity brothers. Why? Because a disproportionate number of black men end up with prostate cancer. See, even though I try to live a healthy lifestyle, most of the time I don’t realize that being healthy is a matter of life and death.

Health is important. And I’m glad I’m getting the chance to think about it more. Health is especially important in the black community, where we often don’t have the best diets. The conversations are vital. The lifestyle changes are necessary.

I’m fresh off of Thanksgiving break, so I’m aiming to eat pretty “lean” this week. I’ll present my food progress at a later date. Cheers to the process and thanks to my sister for creating a great course.

Best,

Garrett

Here’s a starting photo of myself (or something close to it)

Read Your Way Into Wealth: Six Great Books

“Look, I feel like I was chose to the take care of the ones I’m close to.
Kitchen looking like whole foods, got the fam around like it’s soul food.”  – Big Sean

wealth-reading

Reading is Key to Building Wealth

How many books have you read so far in 2017? How many of those books made you better at your job or improved your thought process around wealth? Meditate on that number.

Warren Buffett reads 500 pages a day. Mark Cuban reads more than three hours a day. Bill Gates reads a book per week. The fact of the matter is, most financially free folks are voracious readers because they understand that knowledge is the gateway to success. Learn, earn, return.

Maybe your career doesn’t require scouring through 500 pages of financial news on a daily basis, but that doesn’t cut you off the hook. Read often and read to educate, not to entertain. A study of 1,200 rich people confirmed that all of them are readers.

If you want to become financially independent, you must think it before you become it. You probably do, most people want to become wealthy. Reading books about personal finance provide a practical way to improve your financial behavior. Take a slot out of your day to invest in your financial education. You’ll thank yourself later. Here’s a list of my favorites.

Wealth-Building Books

The Millionaire Next Door

Tom Stanley and William Danko went out to research how the rich lived their lives and their findings were surprising. They discovered that many folks who lived the “lavish life” actually didn’t have the bank account to back it up. Most millionaires actually live quite modest lives. Surprisingly few of the population living lives in luxury are high-net-worth individuals.

Key takeaways

  • Live below your means
  • Budgeting leads to financial freedom
  • Spend your time and money wisely
  • Financial independence is far more important than portraying high school status
  • Most rich folks don’t ride luxury vehicles
  • Spend less and invest more
  • Millionaires only pay around 2% of their net worth in income taxes each year, while the average American household spends 10%

Rich Dad Poor Dad

Robert Kiyosaki tells a tale about his rich dad and his poor dad. His poor dad (and biological father) was a well-educated fellow who never made much of himself financially. His rich dad (his good friend’s father) was a businessman without a state-of-the-art education that managed to make a fortune.

Key takeaways

  • Those who don’t risk, are not rewarded – don’t work for money, let the money work for you
  • Don’t seek money and security; seek opportunity
  • Financial intelligence is key
  • Understand the difference between an asset and liability – an asset makes you money and a liability takes money away from you
  • Keep your assets high and your liabilities low
  • Real estate investing is a great way to make money and save on taxes
  • Business ownership and investment ownership are the two best routes to wealth
  • Invest in your education – learn cash flow, people, and systems
  • Pay yourself first

 

“This some s*** I wrote about when I was broke
See, the power of the mind is not a joke
Man, I said that I would do it and I did
Used to get left-overs out the fridge
Nobody was famous where I lived
Till I got it jumping at the crib
Took a lot to be able to give, I mean” – Drake

 

Think and Grow Rich

Think and Grow Rich by Napoleon Hill is one of the most influential personal success books of all time. The book is based on the research of over 500 business leaders such as Henry Ford, Alexander Graham Bell, John D. Rockefeller, Thomas Edison, and more. The book has sold over 70 million copies since being published in 1937.

Key takeaways

  • Desire is at the core of all achievement
  • Visualizing your success makes the end goal more attainable
  • Use “auto-suggestion” to mold your subconscious mind for achievement
  • Building specialized knowledge is the key to making progress – it doesn’t pay to be the “master of none”
  • Build a mastermind team – your friends should be people who can bring you closer to your goals
  • Make decisions quickly and change your mind slowly
  • Persistence is paramount in achieving goals

 

The Millionaire Mind

“The Millionaire Mind” by Thomas Stanley is a follow-up to “The Millionaire Next Door” and goes into detail about how millionaires think much different than the average earner. The book follows the theme of “Think and Grow Rich”, where the content emphasizes the power of the mind and how negative thinking can affect your wealth over time. The book motivates us to cut loose our destructive thoughts to unlock our own wealth potential.

Key takeaways

  • Millionaires set their own agendas and goals, and don’t wait for others to tell them what to do
  • If you start something, finish it – that’s what millionaires do
  • Focus effort is getting along with people; your pocketbook will thank you later
    • 94% of millionaires ranked getting along with people as one of the most important contributors to becoming rich
  • If you want to become a success, discipline is vital
  • Millionaires are future focused and use their time wisely

 

The Richest Man in Babylon

“The Richest Man” in Babylon by George S. Clason is one of the most significant pieces of literature about building wealth. The classic, published in 1926,  is a short read that’s packed with key wealth-building concepts. The story speaks about the legend of the richest man in Babylon named Arkad. The book reveals his secrets to building riches. This piece of literature served as the roadmap for other books on this list.

Key takeaways

  • Advice is free – use it to build wealth
  • Save at least 1/10th of what you earn – pay yourself first
  • Don’t ask about personal finance from your carpenter – seek advice from those with the right knowledge
  • Surround yourself with people who are familiar with money, make money, and care about money
  • Repay your debts
  • Constantly increase your ability to earn – always invest in improving your skills

 

I Will Teach You to Be Rich

The author of this book, Ramit Sethi, really isn’t much older than many our readers. He finds a way to write a very dense and robust personal finance book without coming off like the rest of the older crowd writing books. I really like Sethi’s book because it’s sort of like a toolkit for millennials. He gives super practical and action-oriented advice. And he shots it to you straight. If you want an all in one book, this is a great place to start.

Key Takeaways

  • Spend consciously on the things that you actually care about
  • Automate as much of your spending, investing, and saving as possible
  • Get bank accounts with no minimums and no fees
  • Pay credit card debt each month in full
  • Invest in low-cost index funds and ETFs

Start Somewhere

Just pick one book to start with and spread your wings from there. If you’ve already read a couple of these books, hopefully, this post introduced you to at least one new book. Before doing better, you must know better. Learn, earn, return!

Bitcoin – Frequently Asked Questions

The Year of Bitcoin

This year, America went crazy on cryptocurrency. Bitcoin’s price rose above the roof and the world took notice. People who’d never thought about investing in currencies started googling “how to trade bitcoin”. Bitcoin and other cryptocurrencies are making room for a completely different vision of how the economy operates. It’s new. It’s cheaper. And it’s not controlled by banks. But what should you know before you get your feet wet with bitcoin? There are plenty of guides out there. This post serves as an avenue to provide readers with the absolute “need to know” to get involved in the ecosystem. We’ll attack some frequently asked questions and leave room for further reading for folks that want a bit of a deeper dive.

Bitcoin – Frequently Asked Questions

What is bitcoin?

Bitcoin is a digital currency that was created in 2009 by an unknown using the alias of Satoshi Nakamoto. The currency, also considered a cryptocurrency, is produced by people all over the world that use high-powered computers to solve complex mathematical equations to “mine” bitcoin.

How owing bitcoin different than owning regular USD?

There’s no Fed controlling the flow of money during financial crises. At one point in time, USD was backed by gold (of course now it’s backed by “confidence”). Well, in the case of bitcoin, instead of being backed by gold, the currency is based on mathematics. Bitcoins are produced by following a mathematical formula that’s accessible online.

Besides what it’s backed by, bitcoin has five defining characteristics:

It’s decentralized

There’s no central authority. No one can mess with monetary policy, cause a meltdown, or take people’s bitcoin away.

It’s anonymous (for the most part)

All that’s logged on the blockchain for bitcoin transactions is your bitcoin address. Your bitcoin isn’t linked to your name, address, or any other personal information. However, there are still some ways to figure out who the owner of bitcoin is if need be.

It’s transparent

Bitcoin uses the blockchain, which stores each transaction on a huge general ledger.

It’s transaction fees are lower

On international transfers, you may be charged an arm and a leg. Bitcoin charges a dramatically lower fee.

Once your bitcoin is sent, there’s no getting them back

This is one of the risks with bitcoin. If you end up in a fraudulent transaction or have your money stolen by a hacker, there’s really nothing that the network can do. That’s when a bank or a central authority would actually come in handy.

 

What can bitcoin be used for?

Bitcoin can be used for just about anything a US dollar is used for. In 2017, the world became crazed over bitcoin trading because of its massive rise in value. Some early adopters have become millionaires from buying and selling bitcoin. But bitcoin can also be used for everyday purchases. Each day, more merchants accept bitcoin as a payment and adoption will continue to evolve. Whether you want to buy a meal, a plane ticket, or shoes, you can buy it with bitcoin.

How do I get started using bitcoin?

To get started with bitcoin you need a bitcoin wallet. Top players in the U.S. for bitcoin wallets are Blockchain and Coinbase. There are mobile wallets, desktop wallets, online wallets, hardware wallets, and USB wallets to choose from. If you’re a beginner, you’re better on with going with one of the bigger players who already have a strong reputation and community. From there, you need to go to an exchange and use your wallet to exchange your current currency for bitcoin. In the case of Coinbase, the company provides both the wallet and exchange. In the case of Blockchain, the company specializes in digital wallets and works with a vetted list of exchanges.

What are the cons of owning bitcoin?

Bitcoin has garnered a lot of interest in its early years of conception, but the currency does not come without its cons. Because bitcoin is a new form of currency, mass adoption hasn’t happened, yet. Not every merchant accepts it and not all your friends own a bitcoin wallet. Bitcoin needs to continue to build the size of its community to receive the benefits of network effects. Imagine having Facebook during its first year. The utility of the network is limited. Now its utility is extreme. For a currency to be useful, the people have to buy in.

When you think about American USD, you know that there’s a certain amount of credibility that it holds. Regardless of what you hear in the news about the debt ceiling, the GDP, Donald Trump, or global conflicts, you know that when you go to the gas station, you can hand the cashier your dollars and change with full confidence. Although we deal still with inflation, the USD is pretty stable. Compared to bitcoin, the USD is still much more stable. At the beginning of 2017, one bitcoin was priced around $1,000. Now, it’s valued over $4,000. You would never see that type of rise in value in the USD. But just as bitcoin rises, it can also fall. This chart tells it all. 2014 and 2015 were dark years for BTC. And dark times can come again.

What’s the blockchain?

It’s the glue that keeps the bitcoin universe together. Each bitcoin transaction is confirmed and creates a “block” on the blockchain ledger. It’s transparent and run by a community of developers who solve mathematical problems to confirm transactions. One key feature is that blockchain can be used for more than bitcoin transactions. It has the capability of logging the transfer of all kinds of value. Ethereum created a platform on top of the blockchain for “smart contracts”. Applications of blockchain technology are much larger than bitcoin. The blockchain is predicted to change a multitude of industries including finance, healthcare, music, and identity.

How is bitcoin stored?

Each bitcoin transaction needs two things: a bitcoin address and a private key. The private key is meant to be kept secret. But don’t lose your key. If you lose it, your bitcoin will remain dormant forever. Decentralization has its cons. You can’t call the bank to redeem your account.

Where can I learn more?

Here’s a list of resources that I found helpful when learning about bitcoin and blockchain:

I Surveyed Over 100 Millennials About Wealth

Wealth Survey

The Wealth Survey

“I got 1-2-3-4-5-6-7-8 M’s in my bank account, yeah (on God)” – 21 Savage (Bank Account)

When I first started blogging months ago, I remember having an in depth conversation with a friend of mine about personal finance. We chatted and we chatted, but one question stood out unequivocally. “What’s your definition of wealth?”

At first, I gave the textbook answer of “assets minus liabilities”. Looking back, I’ll remember that moment as a cop out. People work eighteen hour days to acquire wealth. Heck, families are torn apart over money. I’ve seen friends fight over money. And I regret to say that it was over chump change. So, with that context in mind, wealth’s got to mean more than an accounting equation.

My friend looked at wealth as the moment in time that your passive income surpasses your total expenses. That had a bit more meat to it. But maybe we both should’ve gone a bit deeper. Maybe we were both holding back for the sake of intellectualism. Maybe we just hadn’t spoken in awhile and still needed to chisel off the ice a bit. Both answers seemed a bit technical, robotic even.

Months later, after writing over forty blog posts, I set on a quest to find 100 people to fill out a survey and give their opinions about wealth. I ended up with 110. You get some pretty interesting answers when you survey 100 people about money. A majority of the remainder of this post will be dedicated to summarizing these results, but you can find a summary of the responses here.

Context

All people surveyed were between the ages of 19 and 33 years old with a majority within the range of 20-25 years of age. A majority of survey respondents would characterize themselves as “middle class” and roughly 80 percent of the responses were from individuals that would classify themselves as African-American.

The definition of wealth

“I don’t know why I came in this club with you, girl
Don’t know why I came in with these diamonds on my chain
Surrounded by bad b****** I can’t get ’em out my face
Is it cause a n**** handsome and wealthy?” – Migos (Handsome and Wealthy)

 

When I analyzed over 100 responses about the definition of wealth, a few key patterns solidified.

They fell into the following categories:
  • Generational – money that can be passed down for generations to come
  • Textbook definition – assets minus debt
  • Freedom – the ability to act without concern about money
  • Excess money after paying bills
  • Ownership – investments and control of assets

Ideal Net Worth

Months ago, I watched a YouTube video that changed my outlook on success. “The Strangest Secret” by Earl Nightingale recorded in 1956. It’s a fascinating motivational video if you’ve never checked it out. But more importantly, it presents a pretty intriguing story.

Nightingale opens his speech with a story about 100 25-year-old men. His hypothesis was that if you followed the progress of this group of men from the age of 25 to 65 that you’d be frightened by the end of each journey. Each starts the journey at an even starting point with the belief that they’re going to be successful. By the time that they’re 65, only one becomes rich. Four become financially independent. Five are be working. 54 are broke.

As I sat in my room looking at responses, I couldn’t help but think about the excerpt from Nightingale’s recording. Perhaps a bit pessimistic of me, but maybe as I share results, you’ll understand my angle.

Out of the 110 responses, over 15 people said they wanted a net worth of over a billion dollars. When I asked a very similar question of what each respondent expected their net worth to be at age 50, the responses changed a bit. 12 brave souls planned to be billionaires by 50. For both questions, it was pretty rare to see any person respond with a figure lower than $1 million.

There are currently 10.4 million millionaires in the United States. The total population is approximately 326 million. That means roughly 3 percent of Americans are millionaires. There are 540 billionaires. That means that 0.000165 percent of Americans are billionaires. A much smaller portion of America than the self-proclaimed future billionaires taking my survey. But who knows, maybe there are a few billionaires that like taking surveys.

What do you believe to be the biggest contributor in creating a large net worth?

These responses weren’t really that contrary to my original expectations. But, the results are still worth mentioning. 80 percent of millionaires are “self-made”, so maybe family inheritances may be a bit overstated in responses. But overall, each response isn’t much more or less than what you’d expect.

Patterns
  • Multiple streams of income
  • Saving and Investing
  • Family – inheritance
  • Character traits – work ethic, charisma, time management,

If anything could hold you back from becoming wealthy, what would it be?

This question was supposed to be pretty introspective. It required respondents to dig deep. Their responses were interesting. I didn’t expect confidence to be one of the most frequent responses.

Here are some other patterns:
  • Being too conservative
  • Confidence
  • Family responsibilities
  • Bad financial habits
  • Institutional powers – white supremacy, glass ceilings, discrimination, lack of resources

Surveying over 100 people about wealth definitely taught me a lot. One of the reasons that I started Ruleur was to fuel more conversations about money. This pretty much fits the bill. I encourage you all to start asking the questions that we never really talk about with friends. You’ll learn much more about people than you’d ever expect.

Fin

The Downsides of Investing: It’s Not All Sunshine

 

“When s*** hit the fan, is you still a fan?
When s*** hit the fan (one two, one two)
When s*** hit the fan, is you still a fan?
When s*** hit the fan, is you still a fan?” – Kendrick Lamar (Mortal Man)

The Truth About Investing

Let’s face facts. There are two extremes when it comes to investing; you either end up becoming an investing whiz like Warren Buffett, or lose it all in the trenches of financial crashes like most of America. When I started researching for this post, I was startled by how few posts talk about the disadvantages of investing. With the exception of a handy article by The Balance, pretty much all of the results on the first page weren’t from 2017. Did all of the cons of investing somehow just disappear? If you invest, are you guaranteed to become a millionaire? Blasphemy.

If you’re like many of my readers, over the past year or more, you’ve been reaching out to friends in your network to figure out how to go about investing. You’re likely asking which sites and apps to use, what books to read, and how much to start off investing with. You might’ve read a post that said that “the earlier that you invest, the better your odds are of retiring comfortably”. Something about compound interest. Money that earns on top of money. Yup, probably something like that.

Investing is a great way to earn passive income. No doubt about it. Putting your money into investments is a better life decision than putting it into a savings account that’s getting its value nibbled away by inflation. Fair enough. Technology continues to lower the barrier to entry, as new fintech startups attack the market share of incumbents.

Personal finance is a hot topic and everyone is looking for a piece of the pie. But what about the downsides? Did the “Great Recession” just not happen? Did America get flashed with a Men and Black neuralyzer? Keep a pair of shades at all times, my friend. Investing has its disadvantages and they’re crucial to know as a fresh investor. For the sake of a constructive dialogue, we’ll keep this post focused on stocks opposed to bonds.

Let’s break this post down with a brief introduction of advantages and then a deep dive into disadvantages.

Advantages of Investing

Ownership

When you own a piece of stock, you own a piece of that company. You get share of their success. Because you own a percentage of the company, when their earnings growth causes their stock price to rise, you make a profit. If you’re employed at a company, but don’t own any stock, no matter how hard you work, your earnings are not directly correlated to the company’s success.

Easy to buy and sell

With the power of technology, it’s easier to invest that ever. Nerdwallet created a list of the best investing apps. You can invest through a broker, financial planner, or online. The power of technology enables users to get started quicker than ever before. There’s information about different investment opportunities all over the web. Just as it’s easy to buy stock, in today’s age, we’re also able to sell our shares with the click of a button.

Historically good returns

Over the long haul, stocks are considered great investments. Historically, the overall stock market returns roughly 7 percent on an annual basis. This is why every financial expert says to get started early. The more years your money is invested, the likelier that you will accumulate a pretty penny over time, thanks to our friend compound interest.

Less expensive and time intensive than starting a business

Any entrepreneur will tell you that building a profitable business is harder than passing a drug test after hanging with Wiz Khalifa for a weekend. For the average Joe, investing is a way to still get a piece of the action. It’s less expensive and takes far less time. Depending on your investment style, keeping an investment account may only take a few hours of maintenance a month. It’s a small price compared to building a publicly traded company from scratch.

Now that the core advantages are out of the way, let’s dig into the disadvantages.

Disadvantages of Investing

You can lose all of your money

What happens when the company that you invested in ends up losing three of their biggest clients that account for over 60 percent of their revenue? You can guarantee that the financial markets will downsize their stock price considerably. You didn’t do anything wrong, but you’re paying for it. What if it’s not just one company in your portfolio, but 50 percent of them? This isn’t uncommon in times of economic distress. Investing during a rough spot in the economy may keep you in a work uniform for a decade longer. Ask your elders.

If you can’t play the “buy and hold” game, you’re pretty unlikely to make much money

Investors are incentivized to buy stocks and hold them for long periods of time. Not only from a tax perspective (more on this later), but also from a profitability perspective. Companies take time to grow. Investing usually isn’t a quick fix, especially for the average investor. High-frequency trading sounds sexy, but it probably isn’t for you. So, if you need your money for something in the near future, investing probably isn’t the best option for you.

You have limited control over the company’s operations

Not being a company founder has its benefits, as mentioned in the advantages section. However, it also has its disadvantages. Think about folks who invested in Enron. In cases like this, you can’t control what’s going on inside the company. You may get the chance to vote on a few company decisions, but for the most part the day-to-day operations are run by company employees. And sometimes employees do some pretty dumb stuff.

If you sell your investment in less than a year, you pay higher taxes on your profits

One advantage that comes with owning stock is its lower tax rate. If you hold an investment for more than a year, any profit that you receive will only be taxed at 15 percent (20 percent for high earners). This is called “capital gains tax”. But what if you sell your stock in less than a year? Instead of paying capital gains tax, you pay your regular income tax rate. In most cases, it will likely be higher than the capital gains tax. Less money to take home to the bank.

Investing is hard on the emotions

Everything is fun when you have a good stock that’s growing in value year after year. But what about when your company is suffering after lower than expected earnings? What if the whole entire market is down? You can lose most of the money that you invested in less than a year. It’s not that easy to be an investor when chaos ensues. The financial markets reward those with tough skin and stable nerves. That’s why most investors never win big and it’s part of the reason why financial advisors are helpful. It’s damn hard to keep your cool and make sound decisions when bad news keeps coming. But good judgment pays off big in the long haul.

Investing is completely non-intuitive

Buy low and sell high. Sounds easy enough right? But let that statement sink in. If you’re buying low, that means you’re buying a stock with lower demand. Your friends may be talking bad about it, financial experts are shouting about how its price has dived over the past three months. At this point, most investors run away. But this is exactly when you should buy. Most investors purchase high when all of their friends are talking about the company and the market has already swallowed whatever good news that provided the jump in price. It’s damn hard not to follow the crowd.

Even the professionals get it wrong

I would not advise any investor to have a portfolio 100 percent filled with stocks. In fact, the everyday investor should only send a small percentage of their cash into individual stocks (15 to 20 percent). More of their money should go into diversified investments like exchange traded funds (ETFs). Why? Because even “experts” are wrong most of the time. Most hedge fund managers don’t beat the S&P 500 over a ten year period. They have a full staff, resources, and deep relationships in the industry. If you’re playing the long term game, take on less risk and bet on the whole market opposed to individual stocks. Play smart.

You don’t get the same returns as the founder

Investing can give you some pretty amazing returns over time, but probably not as fast as entrepreneurship. There are some advantages that come along with putting in sweat equity. There’s no such thing as getting rich quick, but successful entrepreneurs typically get rich quicker.

Conclusion

Now that you’ve learned about some of the disadvantages of investing, you’re better equipped to improve your investment journey. Stay tuned for Part 2 of this ongoing series.

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