Chasing shiny investments is like building a skyscraper on a weak foundation. The deeper your financial base—savings, debt management, diversified core assets—the higher your wealth can actually grow.
You know, when it comes to investing, one big mistake that I see a lot of would-be investors make is that they go looking for the fun and exciting and shiny objects to get started in when it comes to their wealth-building career. And they make a big mistake because they wind up trying to build this wealth on a very, very shaky, unstable foundation. Now, I always think about this when it comes to property developers who build big high-rise buildings. What the question you ask is, what is the one thing that they spend the most time on, the most money on, the most time on planning on to be actually able to create in order to build this big building? And the answer is the foundation. And here's the distinction: the deeper and stronger that foundation is, the taller that building is going to go. And guess what? That's exactly the same when it comes to your wealth-building future. The deeper and the stronger financial foundation you're that the higher your financial fortress you're gonna create for your life is going to be able to go.
