I’d like to start off this week by saying “raise a glass”. To those who have been invested these last few weeks, it’s been a lot of fun. The S&P 500 SPY 0.00%↑ is up over 3% in the last month, Nasdaq QQQ 0.00%↑ is up over 4%, Bitcoin and Ethereum are both up almost 30% - and several of our picks given to premium subscribers are up double digits! If you’ve been following along to my articles and have been exposed to different stock or crypto plays, you’ve made considerable gains so give yourself a pat on the back.
We’ve seen the doomer charts from those calling for a massive collapse in asset prices. We’ve been told that we’re going to go into huge recession, inflation will go over 10%, Bitcoin is dropping to $12k, blah blah blah. Let the bears post their bullshit. Truth is, it’s much easier to be long than it is to be short.
I’ve discussed the Barbell Portfolio Strategy which has worked flawlessly this year. Having a chunk of money in cash acting as dry powder collecting risk-free yield while having another chunk in high-flying investments has given us cushion on the downside while allowing us to see huge gains on the upside. If you're under 35, you have to look at large swings to downside as an opportunity for you to build your wealth. And that’s what we’re doing here…building wealth.
But our work is not done. We’re climbing up a mountain trying to reach the summit - the apex, the peak - which is generational, long-lasting wealth. Lucky for us, the party’s not over yet. In fact, I believe we’re just getting started and 2024 could be a massive year for us if things play out (read why here).
Building wealth is not easy - that’s why many are financially left behind. It’s a difficult climb. Those who have a plan going into 2024 are going to reap tremendous rewards. The next 12 months could be a massive step in getting us to the summit. Set your financial goals now and let’s get up the mountain to breathe that rarefied air.
This week, for my premium subscribers, I have a couple important financial planning tips for heading into 2024, including an easy tip to save money on taxes…