Speaker B's top investing rule: lifestyle first. Avoid time-intensive assets like real estate that eat your freedom, unless you have a team to run them. Investments should fit the life you actually want to live.
He just revealed why the first rule of investing isn't about making money.
My ten Commandments are really my ten criteria for investing. Okay, so there is a pecking order, and it does matter, because the first one is lifestyle first. So, to me, I don't want to invest in a way that's incongruent with the lifestyle that I want to live. I don't want to invest in a way where I'm buying certain types of real estate that demand so much of my time that I don't have freedom of time. But at the same point in time, at one point in my career, I was working way more than what I would have as a real estate professional. So. So earlier in my career, I was willing to make that trade because I went from more hours to less hours, and that was really good. At this point in my career, I have a team that runs our real estate, and I'm much more interested in investments that are truly passive that I don't have to do any work for besides the vetting of those deals.
