If I Started Investing in 2024, This is What I'd Do

Summary

In this insightful script, the speaker emphasizes the importance of making smart investments in 2024 to avoid financial pitfalls. They advocate for index funds as a stable, low-fee investment, real estate for its tangible and cash-flow benefits, and collectibles as a passion-driven investment with potential for appreciation. Intellectual property is highlighted as a lucrative avenue for leveraging knowledge, while self-investment is deemed the best investment one can make to enhance personal value and marketability. The summary encourages strategic financial choices and continuous personal growth.

Takeaways

• 🔮 Avoid speculative investments based on crystal ball predictions; instead, focus on long-term, stable investments.
• 📈 Index funds are recommended as a low-risk investment with a low cost fee structure, suitable for those who want a hands-off approach to investing.
• 🏦 Dollar-cost averaging into index funds can reduce the impact of market volatility and is a strategy endorsed by investment gurus like Warren Buffett.
• 💰 Be cautious of mutual funds with potentially high fees that can erode investment value over time due to compounding costs.
• 🏠 Real estate is highlighted as a multifaceted wealth-building vehicle with benefits like cash flow, tax advantages, and inflation hedging.
• 🛠 The 'buy, rehab, rent, refinance, and repeat' method in real estate is a strategy for building wealth through property improvements and refinancing.
• 🎨 Collectibles can be a fun and profitable investment if you invest in rare items that appreciate over time, combining passion with financial gain.
• 📚 Intellectual property, such as books, courses, and consulting services, can be a lucrative way to monetize your knowledge and expertise.
• 🤓 Investing in yourself through education and skill development is the best return on investment, as it increases your market value and adaptability.
• 📚 Prioritize 'just-in-time' learning over 'just-in-case' learning to focus on acquiring knowledge that has immediate practical application in your life or business.
• 💼 Fundamental business principles and personal development are key areas to invest in, as they provide a solid foundation for long-term success.

Q & A

What does the phrase 'eat shattered glass' imply in the context of investments?

The phrase 'eat shattered glass' is a metaphor suggesting that those who try to predict the future and make investments based on speculations or emotions end up with losses and disappointment, much like someone who would literally eat glass and suffer the consequences.

Why did the speaker choose index funds as one of the best investments for 2024?

The speaker chose index funds because they offer a low-cost investment option with minimal emotional involvement. They allow for dollar-cost averaging, which reduces the risk of making investment decisions based on market timing, and they have historically provided a stable return over the long term.

What is the 'stability bucket' mentioned in the script, and how does it relate to index funds?

The 'stability bucket' refers to an investment strategy where a portion of one's earnings is placed in a secure investment, like index funds, to ensure that the principal is not at risk. It's a way to build wealth without the need for constant monitoring or emotional decision-making.

Why is Warren Buffett's opinion on index funds significant in this context?

Warren Buffett's opinion is significant because he is a highly respected investor. His endorsement of index funds as a sound investment strategy for long-term growth adds credibility to the speaker's recommendation.

What are the advantages of investing in real estate according to the speaker?

The speaker highlights several advantages of real estate investment, including the ability to build wealth through various means such as buy, rehab, rent, refinance, and repeat; tax advantages; cash flow generation; inflation hedging; and the potential for appreciation.

How does the speaker view collectibles as an investment vehicle?

The speaker views collectibles as an investment vehicle because they can appreciate in value over time, especially if they are rare or unique. Investing in collectibles that one is passionate about can also add enjoyment to the investment process.

What is the 'buy, rehab, rent, refinance, and repeat' method mentioned in the script?

The 'buy, rehab, rent, refinance, and repeat' method is a real estate investment strategy where one purchases a property, renovates it, rents it out, refinances it to pull out equity, and then repeats the process with the new funds to continue building wealth.

Why is intellectual property considered a valuable investment according to the script?

Intellectual property is considered valuable because it can be a product of one's knowledge and expertise, which can be packaged and sold to others. It can generate passive income and has the potential to scale without the need for additional physical resources.

What is the importance of investing in oneself according to the speaker?

The speaker emphasizes the importance of investing in oneself as the best investment one can make. By improving one's skills and knowledge, an individual becomes more valuable in the market, which can lead to increased earning potential and personal growth.

How does the speaker define 'just in time' versus 'just in case' learning?

The speaker defines 'just in time' learning as studying something that will have an immediate impact on one's life or career. 'Just in case' learning, on the other hand, refers to acquiring knowledge without a specific application in mind, which may lead to information being stored but not utilized effectively.

What is the speaker's advice on how to approach learning to maximize its impact on one's life?

The speaker advises focusing on 'just in time' learning, studying the fundamentals, and applying the knowledge to one's life or career immediately. This approach ensures that the learning is relevant and can be translated into tangible results.

Outlines

00:00

💰 Smart Investments: Index Funds and Real Estate

The speaker emphasizes the importance of making smart investments to avoid financial pitfalls. They introduce index funds as a low-risk, low-fee investment strategy, recommending a dollar-cost averaging approach. The speaker shares personal experience and cites Warren Buffett's endorsement of index funds for long-term wealth building. Additionally, real estate is presented as a versatile investment that offers multiple ways to build wealth, such as through the 'buy, rehab, rent, refinance, and repeat' method. The speaker also mentions the benefits of real estate during times of high inflation.

05:00

🎨 Passion Investments: Collectibles and Intellectual Property

The speaker discusses investing in collectibles, such as cars, watches, and art, as a way to combine personal passion with financial growth. They stress the importance of research and finding unique opportunities, suggesting mentorship as a valuable resource. The concept of intellectual property is introduced as another investment vehicle, where knowledge and expertise can be packaged and sold. Examples of successful online entrepreneurs are given, highlighting the potential for leveraging intellectual property to create wealth.

Keywords

💡Investments

Investments refer to the allocation of money with the expectation of generating income or profit. In the video, investments are the central theme, focusing on smart financial decisions to secure wealth and avoid losses. The script mentions various types of investments, such as index funds and real estate, illustrating the concept as a means to build wealth over time.

💡Index Funds

Index funds are a type of mutual fund with a portfolio constructed to match or track the components of a financial market index, like the S&P 500. The script emphasizes index funds as a low-cost, low-risk investment strategy that allows for dollar-cost averaging, which Warren Buffett also recommends for long-term wealth accumulation.

💡Dollar-Cost Averaging

Dollar-cost averaging is an investment strategy of buying a fixed dollar amount of a particular investment on a regular schedule, regardless of its price. The video script uses this term to explain a method of investing in index funds to reduce the impact of market volatility and to avoid emotional decision-making.

💡Real Estate

Real estate refers to land, buildings, and other immovable property. The script discusses real estate as a tangible investment that can generate income, appreciate in value, and hedge against inflation. It's presented as a way to build wealth through various strategies, such as the 'buy rehab rent refinance and repeat' method.

💡Collectibles

Collectibles are items that are sought by collectors due to their limited availability or unique nature, such as art, wine, or classic cars. The video script suggests that investing in collectibles can be both enjoyable and profitable, provided one does the necessary research and seeks out rare or valuable pieces.

💡Intellectual Property

Intellectual property denotes creations of the mind, such as inventions, literary and artistic works, symbols, names, images, and designs used in commerce. The script describes intellectual property as a valuable asset that can be monetized through books, courses, media companies, and consulting, emphasizing its potential for passive income and personal growth.

💡Inflation

Inflation is the rate at which the general level of prices for goods and services is rising, and subsequently, the purchasing power of currency is falling. The video mentions inflation as a reason to consider real estate as an investment, as it can serve as a hedge against the decrease in purchasing power over time.

💡Mentor

A mentor is someone who imparts wisdom, knowledge, or guidance to less experienced individuals. The script refers to mentors as valuable resources for learning about investment strategies, such as index funds and real estate, and for gaining insights into successful practices in the field.

💡Self-Investment

Self-investment involves spending resources on personal development, such as education, skills training, and health. The video script highlights the importance of investing in oneself as a means to increase one's value in the market, improve skills, and enhance the ability to generate income and success.

💡Patience

Patience is the capacity to accept or tolerate delay, trouble, or suffering without getting angry or upset. In the context of the video, patience is a key attribute for successful investing, particularly in collectibles, where it's important to wait for the right opportunities and not rush into purchases.

💡Fundamentals

Fundamentals refer to the basic principles or features of something. The script advises focusing on the fundamentals rather than the latest trends or fads, suggesting that a strong foundation in core principles is essential for long-term success in investments and personal development.

Highlights

The importance of avoiding speculative investments and the metaphor of the 'crystal ball' for predicting the future.

Introduction to index funds as a stable investment with a low cost fee structure and the concept of dollar-cost averaging.

John Bogle's influence on the promotion of index funds as a sound investment strategy.

The comparison between index funds and mutual funds, emphasizing the lower fees of the former.

Warren Buffett's recommendation of index funds for long-term, passive investment.

Real estate as a multifaceted wealth-building investment, including personal experiences and the benefits of property ownership.

The 'BRRRR' method in real estate investing: Buy, Rehab, Rent, Refinance, and Repeat.

Real estate's role as a hedge against inflation and its appreciation over time.

The potential of collectibles as investments, provided one invests wisely and with passion.

The strategy of investing in collectibles by studying the market and seeking out unique opportunities.

Intellectual property as an investment vehicle, including the creation and sale of knowledge-based products.

The rise of online influencers leveraging intellectual property for wealth creation through courses and media.

Investing in oneself as the ultimate investment, with a focus on skill development and personal growth.

The value of continuous learning and seeking expert knowledge to accelerate personal and business growth.

The concept of 'just in time' learning versus 'just in case' learning, emphasizing the importance of practical application.

The significance of focusing on fundamentals and core principles rather than fleeting trends.

A call to action for learning the best businesses to start in 2024 with a teaser for additional content.

Transcripts

I discovered the best investments you

can make in 2024 raid alio the famous

investor once said the person who lives

by the crystal ball will eat shattered

glass it means that the people who lose

their money are the ones that are

looking inside the crystal ball always

trying to predict the future making

Investments on Trend speculations or

emotions that's why I want to share with

you the best investments you can make

today to actually get Roi so you don't

eat shattered glass the first vehicle is

index funds at 26 years old one of my

mentors told me to take half of what I'd

made at the time and I've earned and put

it into a stability bucket essentially

an investment where I wouldn't lose my

money so what I did is I dollar cost

averaged myself into the index funds why

because it didn't take any thinking you

know a long time ago I was reading books

on investing I came across like John

bogle's book on index funds and many

others and the whole idea is that if you

can get a low cost fee structure then

you dollar cost average yourself into it

it doesn't sound very sexy or a lot of

fun I'll get to those in a second but

it's definitely the way for you not to

lose your money by being emotional all

the time right I see a lot of people

invest and stuff where it's too liquid

it's too easy to come in and out of but

if you're trying to play for the long

game and say this is the money I never

want to lose I'm building my wealth fund

it's going to compound that I can't

think of a better investment than index

funds even Warren Buffett said it he

said you know if I pass away today and

my family had to take over the money

let's get out of active management let's

just take all that money put it into an

index fund and then my family can live

off of the dividends every year this

investment is for people that are

unwilling to learn where they don't want

to think they've got their main business

they got their main job and they just

want to invest in things they don't want

to be emotional about it there's nothing

better than lowcost fee index funds you

don't want to do mutual funds I mean if

you look at a long game over a 25e

period you might lose 40 to 50% of the

value of your investment as a bucket

just because you're paying other

people's fees and that compounds over

time index funds have some of the lowest

fees because you're not paying for

active management whereas in a mutual

fund you're paying somebody to manage it

and they got all these little hidden

fees that they say oh no we're low fees

no you're not if you look at the

actually fine print they can raise their

fees lower like over the time that you

deploy money into their fund and if you

move it around it's not the right way to

do it you know I like Vanguard index

funds you can choose whichever ones but

you want to find stuff have a decent

portfolio and just set it and forget it

the second vehicle is real estate I

bought my first deal when I was 21 it

was a duplex I think I paid something

like

$121,000 for it I had my 5% down and I

got into real estate game since then

I've done a ton of deals and the reason

I like it is because it allows you to

build wealth in a bunch of different

ways you know recently had one of my top

sales guys this kid named Wendell come

in and he wanted to invest in real

estate so I gave him some advice and he

turned all of his extra cash into

investments in multi-units with his

partner and end up building a real

really sizable portfolio my brother did

the same thing him and I started Martell

Holmes to help him get into real estate

to move away from being a mechanic and

he ended up building one of the largest

home building companies in Eastern

Canada because real estate's one of

those Investments that has some very

unique properties to it pun intended

real estate is an investment where you

can drive around and touch it it's not a

fun and you own real estate that has

purpose not your primary home that is

not an investment in real estate see

real estate has this thing that a lot of

people do called the bur meth right

which is buy rehab rent refinance and

repeat method it has tax advantages for

a lot of places it's an asset that

produces cash flow so it pays off the

investment it Hedges against inflation

and it appreciates as it pays itself

down how cool is that those alone the

inflation part right now where we have

some of the highest inflations we've

ever experienced is a beautiful reason

to consider real estate as an investment

vehicle the Third vehicle is

Collectibles this is probably one of my

favorite ones because if you do it right

the things that you enjoy to purchase

can become the vehicle for investment

for example my buddy Mike Brown he

teaches this framework at his

unbreakable wealth seminars where you

can look at cars and watches and art and

wine and all these different

Collectibles you know whatever your

thing is you can be into comic books and

you could either put your money into

index funds or rsps or whatever or you

could actually put them into the

collectible that you are passionate

about that you love that you you know

think about this what if you can invest

in the thing that you spend hours on

YouTube studying so like I love cars

okay I think super cars are beautiful

beautiful works of art and I'm putting

together a collection I mean I'm

inspired by a guy like Steve Hamilton

who has a Hamilton car collection or you

know Manny kosin or even one of my

mentors Andy forcella I mean here's

these people that have these multi- deam

million doll car collections but if you

look under the hood they're actually

Investments they're not buying cars that

are going to go down and depreciate they

know that purchasing these rare

additions of these Collectibles is

actually not only going to hold the

money but it's going to go up over time

now it does require you to put the time

and energy to study it but you don't

make money when you sell you make money

when you buy you have to be patient you

have to look for Unique opportunities so

you have to have access to inventory in

deals to make this work but it could be

one of the funnest things you could do

with your money what you don't do is go

buy a brand new car or brand new watch

off the lot you need to do the work you

need to find somebody ideally a mentor

that's already made money doing this and

ask them how they've done it what are

the auctions they go to what are the

unlisted websites who are the brokers

who are the other people that have

private collections that might be

looking to liquidate some of those

assets you want to get somebody who's

already doing it that doesn't have more

time or the ability to invest more and

you could be the person that gets some

of their release valve of Collectibles

that you could buy and start building up

your collection so the money could

either be in the bank in an investment

or it could be in a beautiful object

that you get to look at and enjoy on a

daily basis it's up to you the fourth

vehicle is intellectual property it's

taking everything in your mind and

putting it into a format that people can

purchase right like a book a media

company licensing models coaching other

people Consulting those Frameworks

become incredibly valuable if you learn

how to put them together in a way that

other people can purchase there are now

a ton of YouTubers from Justin Welsh Ali

abdall Dan Co all these people that are

making millions of dollars online by

learning getting really great at

something creating a course intellectual

property and then using the media side

to get distribution so that they can

sell people that want to learn that on

their product it is a huge opportunity

to get leverag and the coolest part

about the whole process is that the

better you get at it the better you get

in life most people don't package their

intellectual property in a way that

other people can buy or consume I know a

lot of people that know a lot about

stuff I got a buddy he knows more about

more than anybody else I know but he's

never put it down in a way that somebody

could purchase to learn from so he's

just the most interesting man in the

room but never makes any money from that

because he hasn't translated that into

intellectual property the fifth vehicle

is in yourself the reality of it is the

best investment you could ever make is

in your skill sets in becoming more

valuable to the market you know I bought

my first book when I was 23 and that was

kind of late then I went to my first

seminar and I invested

$38,000 in an expert over a three-year

period to teach me everything he had

learned about building businesses at

this point in my life I've invested

probably 1.5 million plus in myself in

my coaching in my skill sets in my

ability to shoot videos just like this

I've paid Consultants $30,000 for one

hour of their time because they've spent

their Whole Life Learning something that

they could teach me and that investment

in myself and knowledge I can translate

into different businesses that I own so

that I can grow faster so the best way

to invest in yourself is first off

invest in your energy get around other

people that are going to keep you

positive not worrying about things and

focusing on the possibility of the

future then try to figure out where you

want to get better at in your life and

go buy some books study the top three to

five books in any category of

information you want to learn like if

you want to become great at sales go get

to top three or five books in sales if

you want to be good at marketing top

three to five books in marketing then

try to invest in if you got a little bit

more money go to the events go get

around people that are also passionate

about that thing see most people get it

wrong when they just like learn stuff

just for someday maybe I call it just in

case learning versus just in time see

you want to study the thing that's going

to have the biggest impact on your life

today people that go learn and then just

put it to the side I call that shelf

help right they're they're trying to

learn the latest craze but they don't

even have a vehicle to translate the

knowhow into anything that's going to

make the money right focus on what's

true not new the fundamentals the

foundation not the whizbang Wizardry of

the current world but like these core

principles about being a better person

working on your health and really

understanding business fundamentals

investing yourself allows you to bring

you with you and every opportunity for

the rest of your life those are the best

investments you can make today but if

you want to learn the best businesses

you can start in 2024 click the link and

I'll see on the other side