"What SHOULD Entrepreneurs Invest In?" | #FFLTV

A few weeks ago, I brought in some of the best investors that I know and put them on stage all at one time. We called it the investment panel. And we had individuals who ran funds versus people who invested in real estate versus people who had multi million dollar stock portfolios versus someone who had just sold their business and was looking to invest in a lot of different things. And they talked about how they mitigated their tax bill and how they diversified for passive income. We, we put all of them on stage at one time. And my only regret from Freedom fastlane Live is that we did not allocate more time to that panel. It was the most fun I probably had during the conference and we'll definitely be going more in that direction for future conferences. But there was one specific topic that came up a lot and it was about if things hit the fan, should you be invested in gold, silver, bitcoin and other hedges? Let's look at a clip from that panel.

I'm still doing bitcoin. Precious metals is definitely something that's still close to my heart. And then online companies. So something that's existing, running, probably something similar to what.

They would buy. Cause.

I'm like what I call asset agnostic. I don't, I care that it produces cash flow.

So.

But gold doesn't do that.

But gold.

Don't get me started.

Actually, go ahead and get started. And it has lousy tax treatment.

Gold is overrated.

Okay.

Again, there's the holistic portfolio and then there's the single asset. You are correct. However, in an inflationary economy, would you agree we're at least in that Maybe.

Hold on, hold on. Referee, moment here for a second. Because what you are going to make an argument for is it as a hedge.

Correct.

And you say what the heck is the point if there's no cash flow?

Is that right?

Yeah. I mean ultimately I buy investments because I want them to pay me money over time. And anything that doesn't pay me money over time, I just don't care because I want that income.

Sure, but to find money, to find.

Money is somebody handing me a dollar bill.

Yeah, but that dollar has value because.

Because we believe it does.

Correct?

Yes, but I don't think the world is going to hell in a hand basket.

I don't either.

And why are you doing this?

Because I want to be ready in case it does.

It's.

I don't lose.

It's only a percentage.

No, I don't lose though.

But even if the world does go to hell, you're not going to want gold rocks in your house. You're going to want blue jeans, water guns, and food.

I said that's true, but also silver. But I didn't say again, it has a purpose in the portfolio because you have to have this offsetting thing. I mean, I'm taking on millions of dollars of debt every time I buy a building, right? The world goes to less than someplace none of us want it to see. But I can use that as a way to get rid of that debt.

Now, of course, this is fun for us to speculate about. Is the economy going to go up or down? Is gold going to go up or down? What's going to happen with bitcoin? I've shared my opinion on bitcoin and it's the same kind of opinion as gold and silver. It might be an okay hedge, but if you've got your. If you're treating that as an investment, you've got the wrong strategy from the get go. Look, the primary question that we need to be answering is how are you producing? That is the next. That was the question that will lead into what should we be investing in? Because the primary thing that you should be investing in is things that you can control. You can't influence the price of bitcoin, the price of gold, the price of real estate. You can do, you know, change the paint and carpets, and if that's the business that you're in, go for it. But if you're a business owner, buy other businesses. If you are an email marketer, buy other email lists. You know, you can affect that. That is where your greatest ROI is gonna come from. You are the greatest ROI that any portfolio will spit off. Rather than hitching your wagon to gold, bitcoin, real estate, or any other vehicle, the primary thing that you should be investing in is you and the things that you can control and impact. Of course it's fun and it's sexy to talk about the things that might go up in value. Look, I had a penny stock NDEV go through the roof in the last couple weeks and it was awesome. I thought I was so cool because I made all this money from one investment. It was a company that I had held for several years because I think that industry is gonna go way up. But I'm not changing my strategy now to go buy a whole bunch of penny stocks. The reason is because I can't impact that. I can't affect that. Make your money in business. Invest primarily in things that you can impact and diversify through the rest of your portfolio. So if you want to have a hedge account where you're in gold, silver, Bitcoin, go for it. But by no means should your hedges be where your primary focus is as an investor. Your primary focus as an investor should be in cash flow. And your primary focus as a cash flow investor should be on things that you can control and impact. That's when you're bulletproof. That's when you will continue to be able to maintain a lifestyle, no matter what happens to the economy. And then you can diversify into other assets. But let's not call that a primary investing strategy. That's speculating. You're speculating on what's gonna happen in the economy. You're speculating on how someone is gonna manage a business. You're speculating on what is going to happen to the price of whatever asset it is that you're buying. But it's not speculating to double down on yourself and to double down on your skillset and to double down on the businesses you advise, the businesses that you're invested in, the businesses that you partner with as an affiliate or in a partnership. That's where your focus should be as an entrepreneur. And then you can diversify through your speculative investments.

Don't.