What we’re talking about: The importance of diversification and liquidity in maintaining wealth, using the example of a Texan realtor couple aiming to double their net worth in five years.
Why it matters: Understanding the principles of diversification and liquidity is crucial in managing wealth and achieving financial stability, which, in turn, empowers you with the agency to live life on your own terms.
What actions to take:
🎯 Reassess your financial goals to ensure they are achievable and reasonable, taking into account the rule of 72.
💰 Diversify your investment portfolio to protect your wealth and prevent potential financial downturns.
🔄 Ensure your assets are liquid enough to provide the cash flow you need for your lifestyle, avoiding the trap of being 'house rich and cash poor'.
✦ Read the Rules: Health | Wealth | Time
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