your eggs in a few baskets and FOCUS: Follow One Course Until
Successful.
If you hate losing, play it safe. If losing makes you weak, play it safe.
Go with balanced investments. If you’re over 25 years old and are terrified
of taking risks, don’t change. Play it safe, but start early. Start accumulating
your nest egg early because it will take time.
But if you have dreams of freedom—of getting out of the Rat Race—
the first question to ask yourself is, “How do I respond to failure?” If failure
inspires you to win, maybe you should go for it—but only maybe. If failure
makes you weak or causes you to throw temper tantrums—like spoiled
brats who call attorneys to file lawsuits every time something doesn’t go
their way—then play it safe. Keep your daytime job. Or buy bonds or
mutual funds. But remember, there is risk in those financial instruments
also, even though they may appear safe.
I say all this, mentioning Texas and Fran Tarkenton, because stacking
the asset column is easy. It’s really a low-aptitude game. It doesn’t take
much education. Fifth-grade math will do. But building your asset column
is a game in which attitude plays a major role. It takes guts, patience, and a
great attitude toward failure. Losers avoid failing. And failure turns losers
into winners. Just remember the Alamo.
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