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Investing Habits of the Fairly Wealthy: #3 “Promiseland”

November 16, 2023 By E.J. Smith - Your Survival Guy

By Valerii_M @ Shutterstock.com

Are you committed? Committed to being a fairly wealthy, highly successful investor? Then this habit is for you. Because I believe you can reach your “promiseland.” I believe you can live your dreams. But can you keep them? Because investing is a lifelong, multi-generational endeavor.

Imagine how you’ll feel when you have enough to retire and no longer worry about where your income will come from. I wish I could say it happens the minute you retire. But when the paychecks stop, a new anxiety begins.

Having guided hundreds of investors through their retirement lives, my happiest clients are pretty much the same. They decided a long time ago they didn’t want the angst, worry, uncertainty, and the work (a different work than their career) that comes with managing their own money. We all have opinions on other people’s money, but with ours, that’s serious business, right?

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For the happy investor, when we talk, yes we talk about the markets, but we also talk about your lives. This week, for example, one client said, “I’m in my happy place working in my woodshop on the lathe.” Another said he’s tying flies thinking about fishing. Another explained a philosophical discussion he’s having with a friend. Another told me he’s been playing some of the best golf in a while. Another is helping his parents move (that’s not exactly happy, but you get the point).

Then there’s the unhappy investor. Never finding his promiseland. This guy has a list of problems “you wouldn’t believe Survival Guy,” he tells me. How he’s been double-crossed, owes money, doesn’t have enough, tells me how markets really work. I know in 17-seconds that’s not my type of client. Sorry. That’s a promiseland I can’t help you find. I’m Your Survival Guy, not a punching bag.

Everyone knows life is about balance. The same is true about investing. Yet, time and time again, investors tell me they don’t like bonds, they don’t understand bonds, and they have too much in the stock market. Hello?

Even in retirement, when you reach your promiseland, you reach a place with a new set of challenges. And that’s OK. Because you and I know there is no such thing as a finish line. Let’s get to work.

Action Line: If you need help shepherding your herd, I’m here.

Read about all of the Top 10 Investing Habits of the Fairly Wealthy here. 

Originally posted on Your Survival Guy. 

If you’re willing to fight for Main Street America, click here to sign up for the Richardcyoung.com free weekly email.

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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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