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A Word or Two about Your Survival Guy’s Money

November 10, 2023 By E.J. Smith - Your Survival Guy

By BigNazik @ Shutterstock.com

Your Survival Guy wants to share a word or two about my money. For one, I eat my own cooking. I don’t hope for my money to do something for me. I don’t bet on markets. I don’t gamble. I don’t use leverage. I don’t look at prices. I basically look at my account here and there, see the income coming in, and that’s it.

Sometimes, my portfolio is higher than the last time I looked, and sometimes, it’s not. I have a consistent investment plan in place, one I’ve had my entire adult life. It’s simple. I save a third, spend a third, and pay taxes with a third. I don’t have any debt. I own my house.

Yes, I know I could have held my mortgage at super-low rates and let inflation help with the payments, but that’s not me. That’s a game I don’t want to be involved with because it’s not a guarantee it will play out that way. And I don’t like chance.

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I want to be the owner. So, I paid off the bank. Now, being an owner provides me with a tremendous amount of peace of mind and comfort. It allows me to have a clear mind. And that’s something you can’t put a price tag on. Actually, you can.

You can put a price tag on your economic independence. You’ll feel great about the control you have. You’ll face tough markets as a shepherd of your money, not a sheep. And yes, focus on income rather than prices.

Prices are fickle. Income is math.

A lot of how I think about money is doing what needs to be done to make me, not anyone else, happy. To make me comfortable. And to be able to sleep well at night. Because doing productive things with money can bring happiness. Just like doing unproductive things can bring sorrow.

Action Line: I believe in you. Keep it simple. Make things happen. Be happy. Let’s have a word or two when you’re ready.

Originally posted on Your Survival Guy. 

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E.J. Smith - Your Survival Guy
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, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention.

E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zildjians. 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 (RIP JB) and Paris.

Please get in touch with E.J. at ejsmith@yoursurvivalguy.com

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E.J. Smith - Your Survival Guy
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