Each week you'll learn how to be a better dividend investor and follow the journey of a welder with a passion for passive income to $1,000,000 and beyond.
Yesterday, I attended a wedding, and as the young couple exchanged vows, I couldn't help but think about investing.
Charlie Munger said, “Marriage is the most important decision you have, not your business career. And it'll do more for you good or bad than anything else. And Ben Franklin had the best advice ever given on marriage, he says, "keep your eyes wide open before marriage and half shut thereafter."
My wife and I met on a dancefloor on November 26, 2000, and got married on November 25, 2005.
Dating is similar to researching an investment, because if we want it to work long-term, we have to know what we're getting into.
Sometimes people are attracted to a person or an investment, make a rash decision, and tie the knot very quickly with little to no research.
Those decisions can and do work out, but many times they fail once the “honeymoon phase” wears off and you begin to see what you really invested in.
After being married for nearly twenty years, my marriage has had its ups and downs, just like any investment. However, because of the conviction I built through my research, I’ve been able to stick with it.
What’s really wild is that we know each other better than any person on the planet, including things that even our parents don't know (and hopefully never will!😉)
Charlie Munger also said, “The first rule of compounding: Never interrupt it unnecessarily."
The same thing applies to Marriage. Sure, I’ve been tempted over the years to interrupt it unnecessarily, just like when we see a sexy new investment opportunity we know little about.
Sky-high yield covered call ETFs remind me of the hot guy or girl that catches your attention and turns out to be crazy. But when you do a little research, you see why they’re incredibly sexy but also unattached at 35 years old.
Yield chasing is like marrying for looks and is a poor decision for achieving positive long-term results.
But, just like the bulk of Warren Buffett's gains came after many years of investing and after the age of 65, I’m already seeing the compounded returns of my marriage.
bloomsbury.co.nz
My daughter is a senior and plays wide receiver on our high school's first-ever girls flag football team. Last week, I watched her score the first varsity receiving touchdown in school history.
Sure, most people have already forgotten what she did, but the joy I received from watching her streak down the field and across the goal line was priceless.
Literally priceless! It’s impossible to put a dollar value on that feeling and the memory it created on a spreadsheet.
Last night at the wedding reception, I watched a teary-eyed father dancing with his newly married daughter and realized he was in the middle of a memory that would be priceless to him. It was the result of an investment he made many years ago when he proposed to his girlfriend.
No person or investment is perfect. Do you research and build your own conviction before investing (or marrying), and if we take Ben Franklin’s advice to keep our eyes halfway shut thereafter, I think we’re in for quite the treat decades down the road.
I'd love for you to reply and let me know if you're married and how much "due diligence" you did before tying the knot.
Disclaimer: This is not investment advice, just one person's opinion that may be incorrect. Do your own research before making any investment decisions.
😁THANK YOU to all who responded to the last newsletter!!
If you're plugged into the FI community, you've heard about the 4% withdrawal rule. The guy who came up with that in the 90's was on Motley Fool Money to talk about why the safe withdrawal rate might actually be even higher...
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Each week you'll learn how to be a better dividend investor and follow the journey of a welder with a passion for passive income to $1,000,000 and beyond.
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