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How Can You Make Money in Your Sleep? Read on…

November 18, 2020 By E.J. Smith

By aslysun @ Shutterstock.com

“Are you calling to tell me you bought a Treasury yielding five percent?” my client asked.

“I wish,” I responded.

“I remember when they were yielding ten percent,” he said. “But then again, inflation was that high too.”

“Do you guys handle taxable accounts?” He asked.

“Yes, we’re not picky.”

“I’ve got a lot of money in CDs. When they mature, it’s just sitting in cash doing nothing.”

From there, we started talking about quality stocks and bonds and how a combination of the two could work as a long-term source of income. Maybe we don’t get all of the income we want and dip into principal. But at least we know we’re probably, over time, going to do better than CDs.

For him, what it comes down to is not wanting to do that work on his own. “You know I have stocks I bought years ago, and I just don’t follow them like a should,” he said. “Turns out they’re in a different business from what I thought I owned. It takes a lot of discipline staying on this.”

“It can be like watching paint dry,” I responded.

“Well,” he said. “I’d rather spend time walking the beach, going to visit family, and not spending the time I have left watching stocks.”

“I hear you.”

“Well, you have a good Thanksgiving and Christmas,” he said. “I want to live with this idea and talk it over with my wife. Let’s review in January.”

“Sounds good.”

When you talk about money with a trusted source, you begin solving problems. You hear something that gets your attention. Then you live with it. And after some time sleeping on it, you come to a decision.

Action Line: Don’t underestimate the power of your mind. It’s working even when you’re sleeping. And that’s often when the best decisions are formulated.

Originally posted on Your Survival Guy.

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E.J. Smith
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris.

Please get in touch with E.J. at ejsmith@youngresearch.com
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