Wealth is income minus expenses
I went for the “brass ring,” the big bucks, on Wall Street.
My friend Trish and I followed the same path, until we didn’t… We went to grad school together (University of Southern California MBA), then both worked at Farmers Insurance in their investments department. Then we worked at Nicholas Applegate, where I ran the No. 1 fund in the world in 1999 (a tech fund), and she ran the No. 1 fund in the world in 2000 (a health care fund).
That’s where our paths diverged.
From running the No. 1 fund, I got an offer to work at a top New York Hedge Fund. Trish had no interest in that massive pressure or the 80-100 hour work weeks. A few years later, she “retired” and has worked part-time on her family business and investments. How?
She SPENDS far less than I do. I had horses, Nicer cars, fancier houses. She had freedom far earlier than I did.
Takeaways for YOU:
1. Pay off your credit cards, starting with the highest interest ones first.
Track credit cards and loans in a spreadsheet or in a paper notebook. Write down the interest rates you are paying on your car loan and all your credit cards, so you know what to pay off first. Savings isn’t savings if you have credit card debt.
Where are takeaways 2, 3 and 4?
They are in the HorseGrooms Community. Sign up (for free) to continue reading this article and learn how to strategize your well-earned money.
This is NOT a financial, legal, tax or investment advice.
This article is for educational purposes only. It is not advice. Why isn’t it advice? First, I don’t have the licenses necessary to advise you. Second, I don’t know your specific situation, which I would need to know in order to advise you (if I had the licenses, which I do not).
Whenever someone gives you advice, ask yourself these two questions above: do they have the credentials, and do they know your specifics? If either answer is no, treat their advice like a starting point of learning and not as advice.
Let these blogs serve as a starting point in your education, not an end answer. Only you can find your answers to your specific situation.
I love this horse community, especially the parts that come together to celebrate the majesty and generosity of the spirit of horses. I want to provide a starting point for you to learn and empower yourself with financial knowledge, and map your perfect journey through life.
My career: 32+ years as an institutional investor, specializing in technology stocks, corporate, and startup operations. I am an advisor and investor in public companies and private companies; authored the #1 Amazon Bestselling book $100M Careers: the 5 Fastest Paths to Wealth Beyond Your Wildest Dreams; am a financial coach through my $100M Career Amplifier program; have managed multi-million and worked on multi-billion funds; and have been a keynote and guest speaker for many events and podcasts, covering everything from careers, leverage, operations, and technology.
You can learn more on my LinkedIn page or my website.
