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Two Essential Ingredients to Wealth

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

By Olivier Le Moal @ Shutterstock.com

Diversification and patience. Two essential ingredients to wealth that are often discovered on the road most traveled. Because most investors are too busy working and accumulating money to think about diversification and patience, it’s done for them. They’re on autopilot.

But when you start thinking about retiring, it’s hard to stay on the road to wealth—especially with all the distractions. Right now, I’m thinking about all those treks driving to Florida. It’s hard to miss the billboards to visit Pedro at South of the Border—the roadside attraction we all know from driving route 95S.

Then, after stopping a few times, the novelty wears off. Experience is a great educator. It’s hard to know what you don’t know.

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Action Line: Slow and steady wins the race. Diversification and patience are the way to put generational wealth to work. There will always be stops along the way. Many necessary. But it’s your journey. I believe in you. Let’s talk.

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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