Get Rich Versus Stay Rich
Get Rich Versus Stay Rich
Posted March 10, 2021 by blair
I don’t help people get rich, I help them stay rich. My job as a wealth manager is to help clients hold on to their wealth and to preserve and grow it to keep pace with inflation. My number one priority is to ensure that money is there to meet their goals, when they are ready to spend it. There are a lot of ways to get rich. The most reliable way is to spend less than you earn and invest the rest. Repeat consistently for four to five decades, and you are likely to secure a decent retirement. One of my favorite things about being an advisor is hearing the variety of ways people accumulated wealth.
I’ve seen and heard it all. Stock-based compensation is a common route, as is building a successful, privately-owned business. Then there are high earning professions such as medicine and law. In some cases, I work with the second or third generation of a family. One of my colleagues spoke to a true Tesla millionaire recently. They really do exist, and a few actually took some gains off the table.
A common theme among wealthy individuals is the realization that money earned easily can be lost just as quickly. There is a healthy fear of making a mistake they will regret. Morgan Housel put this perfectly in his book, The Psychology of Money:
There are a million ways to get wealthy , and plenty of books on how to do so. But there’s only one way to stay wealthy: some combination of frugality and paranoia.
This is not the first time I have referenced that quote from Morgan, and I doubt it will be the last. The truth of the matter is that many Americans have made fortunes in recent years. The current bull market, particularly in popular, high growth stocks, has made millionaires out of employees and investors in these companies. Some of them won’t be able to hold on to it.
Few things compare to the high of making millions off a concentrated bet; whether that bet is on a single stock, building a business, or working for a successful start-up. I imagine the brain responds to this high in the same way it does to addiction. The temptation to chase the next high is all-encompassing. I talk to investors all the time who can’t stop chasing that high.
Getting rich and staying rich are two very different skills. Getting rich is exciting, even thrilling, and often includes lots of risk taking. Staying rich is boring, bordering on mundane. That’s because the only way protect wealth with any degree of certainty is to diversify. Diversification by definition means that parts of the portfolio will always be lagging the rest of the market.
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Emailed to Recaps~ Thank you David
Reset Intelligence: Iraq Refuses a Weaker Dinar
By Reset Intelligence | @EXIT_FIAT
On Sunday night a headline said Iraq's 2027 budget values $100 at 150,000 IQD. On Monday evening the same outlet carried a currency market spokesman saying the decision will not be implemented.
In between, Iraq's ruling coalition and its parliament both called the Finance Minister in. Nobody with the power to set the IQD's rate has put a name to 150,000
TNT:
Tishwash: Parliament discusses with the Minister of Finance the exchange rate and the price of a barrel of oil in the 2027 budget
Member of Parliament Ahmed Salem Al-Saadi announced on Tuesday that he will host Finance Minister Faleh Al-Sari to discuss the dollar exchange rate and the price of a barrel of oil adopted in the 2027 budget.
Al-Saadi told Al-Mada that “today we will host Finance Minister Falih Al-Sari, and the issue of the price of a barrel and the exchange rate of the dollar in the 2027 budget will be discussed within the Finance Committee and in the House of Representatives.”
GP Q: The US Fed’s Genius Act
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The US Fed’s GENIUS Act:
Stablecoin rules leave the statute
5 October 2026
On 24 September the Federal Reserve signed off on two proposed rules under the GENIUS Act, the July 2025 law for payment stablecoins.
Delete Zeros From The Iraqi Dinar... Change Of Currency Or Redrawing Of The Money Map?
The controversy over removing zeros from the Iraqi dinar is not limited to changing the shape of the currency or simplifying financial transactions, but extends to one of the most sensitive issues in the Iraqi economy, namely the size of the cash mass circulating outside banks and the money that citizens keep in their homes away from the banking system.
Good Morning Dinar Recaps,
INDIA RESET WATCH: U.S.–INDIA TRADE TALKS STALL AS TARIFF PRESSURES THREATEN GLOBAL COMMERCE
Trade negotiations between the United States and India have reached a difficult point as tariff threats, Russian oil purchases and competing economic priorities put pressure on one of the world's most important trade relationships.
The Final Dinar Pieces Are Falling Into Place
The Dinar Den: 10-5-2026
Recently, in a detailed analysis provided by Stephen from The Dinar Den on YouTube, several critical updates came to light regarding the current economic landscape in Iraq.
From discussions surrounding potential exchange rate revisions to long-term structural reforms, the economic environment is undergoing significant scrutiny.
KTFA
Monday Night Video
FRANK26….10-5-26….JEALOUS UGLY ANGRY GIRLFRIEND
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#
EU Ambassador: Trade Between Iraq And Europe Amounts To About 18 Billion Euros
Money and business Economy News – Baghdad The Ambassador of the European Union to the Republic of Iraq, Clemens Smtner, said that the relations between Baghdad and the European Union are witnessing a renewed development in various fields, pointing out that the partnership between the two sides expands to include economic, developmental and security files, in addition to issues related to institutional reform and the rule of law.
It Took 211 Years to Borrow $2.3 Trillion. Congress Just Did It in Twelve Months.
Notes From The Field By James Hickman (Simon Black / Sovereign Man) October 5, 2026
$2,307,765,598,614.61. That’s how much the national debt grew by in fiscal year 2026, which just ended last week on September 30.
$2.3 trillion in a single year is clearly and obviously runaway debt growth; think about it— the entire national debt didn't reach $2.3 trillion until 1987.
Ariel: You are Hearing it from Official Iraqi Sources
10-5-2026
You Are Hearing It From Official Iraqi Sources
You Need To Read This Now!
The Cabinet Will Be Completed Next Week
Do you know what Iraq is doing for the 1st time for the 2027 budget?
Financial System Will Be On The Chain, We Are Transitioning From A Fiat To Asset Back System
X22 Report: 10-5-2026
Affordability goes back to 1971, but Biden has caused higher prices and that is what people are feeling. Oil is flowing. Trump is preparing the system to be put on the block chain backed by gold.
Trump is in the process of completely and utterly transitioning the Economic System. The Treasury Secretary Scott Bessent is continually bringing on people to help transition the system.
Parliament: The 2027 Budget Will Reach The House Of Representatives In The Middle Of This Month
Money and business Economy News – Baghdad The Parliamentary Finance Committee confirmed today that the draft budget for 2027 will reach the House of Representatives in the middle of this month, while pointing to the work to provide the necessary financial allocations to stabilize contracts and daily workers in all provinces of Iraq.
Good Afternoon Dinar Recaps,
INDIA RESET WATCH: RBI FACES FIRST RATE HIKE SINCE 2023 AS OIL AND DEBT PRESSURES BUILD
India is approaching a potentially important monetary-policy shift as a weaker rupee, elevated oil prices, rising inflation pressures, and global borrowing costs challenge the country’s financial stability.
Coffee with MarkZ. Monday 10/05/2026
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
MZ: New week and some are panicking while others are getting excited. 1 to 1500, factions, Iranian policy seems to be coming to a head, and other worldwide craziness to start the week.
TNT:
Tishwash: Al-Khafaji told: The cabinet will be finalized and voted on next Thursday.
Member of Parliament Miqdad al-Khafaji predicted that the cabinet formation process would be finalized and voted on in Parliament next Thursday.
Al-Khafaji told Al-Mada in an exclusive interview that “the end of this week will be the expected date for finalizing the cabinet and voting on it.”
Emailed to Recaps~ Thank you David
Reset Intelligence: Iraq Drops the Borrowing Law
By Reset Intelligence | @EXIT_FIAT
Iraq's parliament has dropped its borrowing law. The chairman of the Finance Committee says the 2027 budget will carry what that law was meant to cover, and that budget is due in parliament by October 15.
The same weekend, a headline claimed Iraq is about to devalue the dinar. The lawmaker it quotes said herself it is not a final decision.
Al-Moussawi Told Al-Maalomah: There Is No Final Agreement On Raising The Dollar Exchange Rate.
Today 10:40 Information/Baghdad.. MP Mukhtar Al-Moussawi confirmed on Thursday that there is no final agreement to raise the dollar exchange rate, while he pointed out that the country's economic situation requires a strategy that maintains the stability of food prices and keeps them away from speculation, as well as creating a strategic reserve that takes into account the tensions in the region.
Good Morning Dinar Recaps,
EURO RESET WATCH: EURO SLIDES TO 17-MONTH LOW AS FRENCH DEBT FEARS SHAKE MARKETS
The euro’s sharp decline reflects growing investor concern over France’s debt, political uncertainty, and the broader challenge of maintaining confidence in Europe’s financial system.
The Real Story Behind The Bond Market Selloff
Kana Norimoto , Managing Director of Asset Allocation Research , Fidelity Investments
Rising yields may be signaling a new regime for markets.
Treasury bond yields of all maturities have been climbing higher in recent months. As an example, the 30-year Treasury reached a yield of 5.3% in August, a level not seen since 2006.
What investors are seeing in Treasury markets is less about a single concern or a looming crisis, and more about a confluence of factors that are reshaping global markets.
Ariel: The Zero-Deletion Window and the October 15th Convergence
10-6-2026
Opening The Books To The World: October 15th Looming
Iraq Cabinet Completion, Zero-Deletion Execution Window, and the October 15th Convergence
The Iraqi Parliament’s announcement that the full Cabinet will be confirmed as a single package this Thursday is not a procedural footnote it is the legal key that unlocks the deletion of the three zeros from the dinar.