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My Money Sleeps: “I Never Bought a Car as an Investment in My Life,” Jay Leno

October 4, 2022 By E.J. Smith

By Gustavo Fadel @ Shutterstock.com

“I never bought a car as an investment in my life,” explained Jay Leno back in 2015 when a guy offered him $12 million for a McLaren he had bought twenty years prior for $800k (watch the video below for why he doesn’t sell).

If You’re Serious, Sign Up for My Email. But Only If You’re Serious.
  • Gale Warning During Newport’s Concours and Motor Week

“I work, and my money sleeps,” says Leno. But don’t think his money’s not working. His money works. He simply gives it plenty of time and space to compound and to do its thing.

  • Time to Get Your Lazy Cash Off the Couch

Now, if you’re a regular here at YourSurvivalGuy.com, you know how frustrating lazy money can be. But Leno’s got a great point. Sometimes lazy money is just fine doing nothing. It’s OK being bored. It’s nice relaxing in the hammock. You don’t want to send your lazy cash out the door without a plan.

  • Lazy Cash Wandering Docks at Newport Boat Show

Leno buys cars because he loves their story. He likes their history. There’s a reason Mustangs and Corvettes are collectibles. You either wanted them as a kid, or you can finally afford one, love the nostalgia, or just want one now. It’s your call, not anyone else’s.

  • You Can Do Better than Mutual Funds and ETFs with Your Cash

The same is true for Your Survival Guy and money. I want to protect it. I don’t ask it to do too much for me. I want my equity money in dividend paying stocks. I like the story a dividend track record tells. And I like bonds owned individually in a ladder so I have cash to redeploy at a set time in the future.

  • Sink Your Teeth into These Bond Yields

Action Line: Investing in times like these isn’t easy. It’s hard. Stick with me. Have a collector’s mindset and hunt for some good stories. Let’s go.

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 Zildjians. 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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