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.
To continue reading, please go to the original article here:
GP Q: Why the Clarity Act Matters to Currency Holders
9-16-2026
CLARITY ACT — WHY IT MATTERS TO CURRENCY HOLDERS
The Senate did fail to advance the CLARITY Act today. The cloture vote was a procedural step requiring 60 votes; it was not a final vote declaring the bill d**d forever.
WHAT WE KNOW: The bill concerns regulation of digital assets, including SEC/CFTC jurisdiction.
Good Morning Dinar Recaps,
FED RATE DECISION: FIRST HIKE SINCE 2023 COULD RESET THE OUTLOOK FOR INFLATION, DEBT AND THE DOLLAR
The Federal Reserve is expected to raise interest rates for the first time since 2023 as persistent inflation, oil prices above $100 and elevated Treasury yields create a new challenge for U.S. monetary policy, government debt and the dollar.
ADNOC Snaps Up Discounted Iraqi Crude
2026-09-15 16:31 Shafaq News- Baghdad Abu Dhabi National Oil Company (ADNOC) has bought millions of barrels of discounted Iraqi crude, becoming the largest lifter of Iraqi oil in August and September as Baghdad sought to restore exports disrupted by the Iran war, Reuters reported on Tuesday, citing three sources familiar with the matter.
TNT:
Tishwash: Al-Zaidi concludes his European tour, returning to Baghdad
Prime Minister Ali Faleh al-Zaidi concluded his official visit to the German capital, Berlin, on Tuesday, returning to Baghdad.
The Prime Minister’s Media Office stated in a statement that “Prime Minister Ali Faleh al-Zaidi concluded his official visit to the German capital, Berlin, and is returning to Baghdad.”
Prime Minister Ali Faleh al-Zaidi began his European tour on Sunday, September 13, 2026, with an official visit to the French capital, Paris, at the invitation of French President Emmanuel Macron, before heading on Tuesday, September 15, to the German capital, Berlin, to complete his tour.
KTFA
Tuesday Night video
FRANK26…9-15-26….ANOTHER ECONOMIST
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#
The Seven Deadly Sins Of Personal Finance
By J.D. Roth —03 June 2019
I've been reading and writing about personal finance for more than thirteen years. In that time, I've consumed a lot of books about money. Lately, I've found that it's fun to revisit old favorites.
Recently, for instance, I've been re-reading Brett Wilder's The Quiet Millionaire [my review]. It's different than most personal finance books. It's targeted at those who are farther along their financial journeys rather than at those just starting out. Still, there are bits and pieces in The Quiet Millionaire that are applicable to everyone.
Oil Rises On Saudi Supply Disruption Concerns
2026-09-15 01:32 Shafaq News Oil prices rose on Tuesday as concerns over supply disruptions persisted after attacks on Saudi Arabian energy infrastructure left the kingdom's East-West pipeline offline and cast doubt on efforts to ease shipping risks in the Gulf.
This Week Could Be HUGE For Dinar & Crypto
The Dinar Den: 9-14-2026
We are currently witnessing an extraordinary alignment of economic milestones, particularly within a pivotal forty-eight-hour window.
This crucial period brings together the upcoming vote on the Clarity Act in the United States Senate, the drafting of Iraq’s 2027 federal budget, and the Federal Reserve’s highly anticipated decisions regarding interest rates.
These events are not happening in isolation; rather, they represent a convergence of domestic policy, international legislative updates, and global monetary strategy that could collectively influence the future value and utility of the dinar.
TNT:
Tishwash: Al-Zaidi's consultation with the head of Rothschild Bank on expanding Iraq's cooperation with international financial institutions
The Iraqi Prime Minister and the head of the Rothschild Bank met in Paris and discussed ways to expand Iraq's cooperation with international and global banks and financial institutions.
Iraqi Prime Minister Ali Falih al-Zaidi met and held talks with Edouard de Rothschild, chairman of the Rothschild Bank, at his residence in Paris, the capital of France, on Monday.
"The Baghdad Dinar Is Disappearing... Close The Borders!" The Final Solution Is To Abolish Iraq's Paper Currency!
2026-09-15 | Baghdad - Perhaps no country in the world has abolished paper currency, but amidst the anxiety surrounding discussions in the local market and among banks—both those sanctioned and those not—within an economy mired in a ceaseless war, an Iraqi expert and academic believes that the chaos plaguing the financial market necessitates the "complete abolition of paper currency" and its conversion into a bank card for every citizen.
"Grow Our Way Out of Debt” Is Code for Inflation
Notes From the Field By James Hickman (Simon Black / Sovereign Man) September 14, 2026
Last week, Treasury Secretary Scott Bessent sat down for a fireside chat at Southern Methodist University in Dallas and told the room what the plan is for the national debt.
"We don't have a revenue problem," he said. "We have a spending problem." Contain the spending, add 3% growth, and America can "grow our way out of this."
Ariel: This is an Extreme Wait and See Game
9-14-2026
Many Wanted Me To Comment On This: Here Is My Deal
What we know is that the CBI’s digital currency framework is designed to maintain 1:1 parity between paper IQD and dIQD. The permissioned ledger running through Trade Bank of Iraq, Rafidain, and Rasheed ensures the digital representation mirrors the physical currency’s value.
If the CBI sets the post-RV rate at $3.22, then:
Reset Intelligence: Who Holds the Clock.
By Reset Intelligence | @EXIT_FIAT
Iraq's 2027 budget reached the cabinet today, exactly on schedule. The same day, the prime minister was in Paris with Edouard de Rothschild of Rothschild and Co, talking credit ratings and international banks.
Parliament gets the budget on October 15. For the first time, Baghdad has printed the width of the gap between the draft and the vote. The 2023 record says that gap is where Iraq's rate decisions actually live.
Stephanie Starr: If Congress Advances this
9-15-2026
If Congress advances this, the United States is formally acknowledging Bitcoin as a strategic national asset — something potentially worth holding on the federal balance sheet rather than automatically selling.
Why that matters? Protects U.S. exposure to a scarce digital asset. Strengthens America’s position in the global digital-asset economy. Signals that crypto is becoming part of mainstream financial policy. Encourages long-term regulatory and institutional certainty. Forces other nations to think seriously about their own digital-asset reserves. Moves the conversation from “Should crypto exist?” to “How does America compete?”
Good Morning Dinar Recaps,
GLOBAL BOND WARNING: U.S. TREASURY YIELDS BREAK ABOVE 5% AS OIL SHOCK AND FED RATE FEARS DEEPEN
U.S. Treasury yields have broken above the critical 5% level as surging oil prices, renewed inflation concerns, heavy government borrowing and expectations for another Federal Reserve rate hike intensify pressure across global bond markets.
2027 Budget Heads To Iraqi Parliament October 15
2026-09-14 / 05:58 Shafaq News- Baghdad Iraq’s Finance Ministry plans to submit the 2027 federal budget bill to Parliament on October 15, Parliamentary Finance Committee member Jamal Kocher told Shafaq News on Monday, after two years without an enforceable federal budget.
MilitiaMan & Crew: The Reality of the Iraqi Dinar: Daily Analysis and Updates
9-14-2026
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
No drama. No intrigue. No songs and dances. Just straight, factual news that I read and interpret to the best of my ability after being an avid Dinar investor and insanely obsessed Dinarian for over 15 years.
Follow MM on X == https://x.com/Slashn
KTFA
Monday Night Video
FRANK26…9-14-26…..RIDE THE WHALESHARK
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#
The Central Bank Of Iraq Is Taking Steps To Reduce The Dollar Gap; A Unified Exchange Rate For Currency Exchange Offices Is Approaching 1320
Last updated: September 14, 2026 Independent/- Informed sources revealed to the Independent Press Agency new moves within the Central Bank of Iraq aimed at reducing the large gap between the official exchange rate of the dollar and the prices circulating in the local market, through a package of measures being worked on to regulate the sale of foreign currency and tighten control over exchange companies, in conjunction with the continued rise of the dollar in Baghdad and other governorates.
Coffee with MarkZ joined by Zester 09/16/2026
MarkZ Disclaimer: Please consider everything on this call as my opinion. Be sure to consult a professional for any financial decisions
MZ: Crazy slow news day so far, factions, international deals, and global bankers. Zester has an update on the Clarity Act.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY