Wealth on Your Street - Investing Maturity
Find $1MM moving into your account by the Millionaire Mindset
Millionaire Mindset Academy
Four Stages of Investing
by the Poverty Principles
I. Naive - Ages 20-30
Not much to say here since these people just don't know as much as they think they do. The herd begins when professional employment initiates your 401k account. Young employees are naive and really don't know what to do. So they do what they are told by their family & friends. Not because it is right for them but because others are following the paved cattle trails. The first 50 myths are generally revealed here in simple terms of stupidity, that is what they think of you. The first opportunity to double the smallest amount is lost here.
II. Hopeful - Ages 30-50
This stage begins when curiousity produces a referral. It's when the indoctrination of the 50 Myths of Financial Success begins. Each situation reveals a different myth. Other times a same situation will produce a different myth. All are intended to keep this age group from a repeatable & reliable solution for the future. Sometimes there are wins and sometimes there are losses. One thing is certain rarely does this account grow beyond the contributions. The curious will discover this and the less curious will defend. Thre is zero proof this market account will actually result in an amount greater than a simple savings account. The truth is in the stock market, "Many must lose, so a very few become wealthy." You will never hear that from your broker. There 3 windows to double $ or 3 windows to lose 40% each.
III. Confident - Ages 50-70
There is much to say here because the confident produce the greatest volume of active trading. They predominantly are still operating by the Poverty Principles, just doing it faster by initiating their own trades. I find the indoctrinated here, who say, I have been using the same broker for 30 years and very knowing of the 50 Myths. They often demonstrate more loyalty to their broker than to themselves or they move to day trading on their own. They still don't know their strategy, framework or expectations. It remains true that 98% fail and 2% win. The confident have never lacked for believing they will be an exception to the 98/2 rule. They definitely have never heard of the "Rule of 100". Remember the question, "Why has no one ever told me?" It has already come out or is going to be handed out, soon! There 3 more windows to double $ or 3 windows to lose 40% each time. There is a better way!
IV. Disillusioned - Ages 70-100
This group has lost much to little no growth above their contributions. One trust client, i discovered had made 1/2% growth/year over 30 years resulting in $7M. He could have likely had $24MM. This group thought they were going to do better. They need to find the Millionaire Mindset and make the most of the time available to them. Staying the market is simply gambling their resources hoping to make up for lost time. The Millionaire Mindset makes the most sense not matter what age! There 4 more windows to double $ or 4 windows to lose 40% each time. Devastating retirement. There is a better way!