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Are You with Someone Who’s Been Cookin’ for Decades?

March 1, 2023 By E.J. Smith - Your Survival Guy

By Stockbusters @ Shutterstock.com

You may be surprised, dear reader, but Your Survival Guy doesn’t spend much time thinking about how much “I” can make in the markets. I spend my time thinking about how to hide. How to protect my assets. Because I know a swooping black swan is looking to take them.

And yet, time and time again, it’s the investor, like the frog in a soon to be boiling pot, who is lulled to sleep in the good times only to be whacked when markets turn down. And they are always picked off.

Picked off out of nowhere, wondering what in the heck just happened.

“But I was diversified in an index fund,” they scream.

“Technology was supposed to be the future,” they cry.

“But crypto couldn’t lose.”

It’s not funny.

Hiding in My Cave

Sitting in their cave for a fireside chat, wise men warn about risk. They say, “‘Don’t buy what that wolf is selling.” But do the young bucks listen? Some do. But others can’t see the light. That is, until it’s too late.

“I didn’t realize my risk tolerance was that low.”

“What was that you said, honey?”

“We need to talk.”

A Life of Compounding

Your Survival Guy began his path of compounding money a long, long time ago. I purchased a multi-family, focused on income (rents) and being a good landlord. Over time, my rents increased as did the final sale price, which Becky and I used for our first cottage in Newport, RI.

When I read the obituaries of the business greats, I read about how they invested in themselves—dumping their profits right back into that business or keeping the money safe. They were masters of compounding because it was a matter of survival. I can relate to that.

Action Line 1: It’s never too late to start. Col. Sanders sold his first Kentucky Fried Chicken franchise at age 60.

Action Line 2: If you’re not an expert, find someone who is. Someone who’s seen how the chicken is made. My father-in-law started back in 1960. That’s some serious cookin’.

Originally posted on Your Survival Guy.

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  • Author
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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 and Paris.

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

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