ONE THING YOU SHOULD DO
DO put all your eggs in one basket! I know, your financial planner, Dave Ramsey, Suze Orman and your college professor will tell you otherwise and say, “Spread your eggs into many baskets.” But I’m here to tell you that they are as clueless as anyone regarding this principle! Diversification is a preservation strategy and not a wealth creation strategy.
My question to you is simple: If you’re not already wealthy, why are you focused on wealth preservation? Why are you defending a financial castle when there’s no castle? You have to earn a financial life first, and then you can preserve it. To create confusion, put your eggs into many baskets and then, like a chicken, watch your eggs become someone else’s breakfast!
In the wealth creation stage, if an investment is worth any of your dollars it may very well be worth all of your dollars. If it’s not worth all of your dollars then it may not be worth any of your dollars! Put all of your dollars into one basket then watch those dollars like a hawk! That’s the financial advice of J. Paul Getty and Andrew Carnegie. That’s the example of Steve Jobs, Bill Gates and Mark Zuckerberg.
Anyone who has created wealth understands the power of focusing your investment dollars. Now gather all your “eggs” into one basket and go out there and create wealth!