Building Wealth Is Your Job

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Many people misunderstand the nature of wealth. The truth is, by just learning a bit about investing and putting that knowledge into practice, you can build a base of wealth that lasts not only your lifetime, but that of your children. In episode 8, Brandon and Christine will discuss what you need to know to build such a base of wealth.

 

This is quite possibly one of the most important podcasts you could ever listen to. Please listen carefully and download the spreadsheet to check out the numbers for yourself.

 

Topics Discussed

• Indices up about 1% today.
• After Friday’s ugly close, the market had to price in a new norm.

12:10 – Weekly Stock Picks

• () jumped nearly 20% last week, where Brandon sold out.
• () was up nearly 10% in the last week.
• () was up nearly 3% and have earnings this Wednesday.
• Instead of doing a stock pick, we’re doing an option pick.
• The option today is an SPY call credit spread expiring August 7, selling the 317 strike and buying the 319 strike for a premium of $0.70.
• This spread has a maximum loss of $130, and a probability of profit of 71%.
• The earnings pick for the week is [stock_Name symbol=”HELE”/], a company in the cosmetics industry, which is expected to beat earnings by 11% on July 9.

25:02 – Building Wealth Is Your Job

• Most people see money as something that comes through a paycheck, but this is a limited resource.
• You could work for 10 years, then one day you quit or get fired, and suddenly the money dries up and you have to find another job.
• We’re not supposed to live that way. It’s the worst possible way to treat money.
• The stock market is the most reliable way of building consistent wealth.
• By learning how to sell options profitably, we can easily make 50-60% per year.
• It might not seem like a lot at first, but over a matter of years, that foundation of wealth will build momentum like you could not imagine.
• It’s like planting a tree: you plant the seed now and tend it while it grows, but once it grows, you and your family will enjoy the result for centuries to come.
• It’s your responsibility to build a base of wealth that will not only support you, but will support your children after you.
• You could easily become a millionaire in the next 10-12 years, if you started today.
• See the spreadsheet for all the information you need.