A financial advisor argues that net worth obsession is a trap designed by the industry to keep your money invested. Real freedom comes from passive income streams, not a big balance that's risky to touch.
Chapters
Net worth is always worth less than passive income. No one cares about how much net worth they have. They care about what's the actual income that's coming on from that. But sadly, financial experts just tell you, get a big net worth and then, and ideally keep your net worth with them in mutual funds, right? In the stock market on Wall Street only. That's the only place you should have it is with us because that's where we make our money. That's what they're really saying. But then you have to pull off very little money. Why do you pull off a little money? Because one, there's market swings. So you can't pull off too much because you could possibly run out of money faster. But 2, if you keep money in there longer, guess who still gets paid? The financial companies, right? And by the way, who pays for all the financial media and the news for the commercials on those news channels? The financial companies, right? So literally they're bankrolling everything to brainwash the entire, really the entire world that put your money with us, that's your ticket. Just keep putting your money away, build up that net worth. That's the real value. No, it's not. Like freedom comes by—