“I never bought a car as an investment in my life,” explained Jay Leno back in 2015 when a guy offered him $12 million for a McLaren he had bought twenty years prior for $800k (watch the video below for why he doesn’t sell).
“I work, and my money sleeps,” says Leno. But don’t think his money’s not working. His money works. He simply gives it plenty of time and space to compound and to do its thing.
Now, if you’re a regular here at YourSurvivalGuy.com, you know how frustrating lazy money can be. But Leno’s got a great point. Sometimes lazy money is just fine doing nothing. It’s OK being bored. It’s nice relaxing in the hammock. You don’t want to send your lazy cash out the door without a plan.
Leno buys cars because he loves their story. He likes their history. There’s a reason Mustangs and Corvettes are collectibles. You either wanted them as a kid, or you can finally afford one, love the nostalgia, or just want one now. It’s your call, not anyone else’s.
The same is true for Your Survival Guy and money. I want to protect it. I don’t ask it to do too much for me. I want my equity money in dividend paying stocks. I like the story a dividend track record tells. And I like bonds owned individually in a ladder so I have cash to redeploy at a set time in the future.
Action Line: Investing in times like these isn’t easy. It’s hard. Stick with me. Have a collector’s mindset and hunt for some good stories. Let’s go.
Originally posted on Your Survival Guy.
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