How to Protect Yourself From the Threat of High Inflation

How to Protect Yourself From the Threat of High Inflation

Inflation is a threat because it erodes the value of your money.

Inflation is also a threat because it can indirectly lead to a stock market crash.

When inflation rises, the national banks around the world will eventually have to let interest rates rise to curb that rising inflation.

A hike in interest rates can cause the stock market to tumble.

If the US Federal Reserve (the Fed) raises interest rates in the US abruptly, it can actually cause a stock market crash.

We have had a taste of this several times in recent years, including in 2018 when the Fed raised interest rates four times in a row. Stock prices began to tremble… and fell sharply in late 2018. This led the Fed to lower rates again out of concern for a stock market crash, and the market calmed.

We have had low inflation and low interest rates for many years.

Why should that change now?

Because a lot of money has been pumped into the economy following the start of the COVID-19 crisis.

I won’t go into too much detail about M1 and M2 and other measures for money supply in the US to avoid making the text heavy and difficult to read. You can trust me (or google it) when I say that the Fed has pumped money into the system at a rate we haven’t seen before – not even during the 2008 financial crisis.

When large amounts of money are pumped into the system, it causes prices to rise.

Inflation in the United States has been around 2 percent for many years (on average from about 2000 until recently). This spring we saw a spike. It doubled and measured around 4 percent in May (PCE index).

Fed chairman Jerome Powell assured that the price increases are a passing problem… but he would have to say something like that to calm down the market (imagine he said the opposite – that alone could cause a crash).

Many economists are talking about the threat of rising inflation. Some even talk about possible hyperinflation.

The question I want to answer here is:

What can you do to protect yourself from inflation?

Should You Stay in Cash?

If there is an imminent threat of rising interest rates and falling stock prices, can cash be a solution?

In the short term, it’s fine to have cash so you’re able to take advantage and buy shares in the event of a stock market crash, but in the long term, cash is the worst asset group to hold.

Why? Because of the obvious fact that the value of your money will erode.

If inflation is 4 percent, the value of your money will be halved in 18 years. If it rises to an average of 5 percent, your money will be halved in 14 years. Not attractive at all.

What About Gold?

The advantage of gold is that the amount of it is limited. This means that it keeps its value over time (and even increases in value).

The problem with gold is that it’s a piece of metal that can’t invent products, employ people, or innovate. It’s not as good an asset as stocks over time.

This way of putting it comes from Warren Buffett.

He illustrated the problem with gold at the 2018 Berkshire Hathaway annual meeting.

If you had invested $ 10,000 in gold in 1942 (yes, yes, I know you weren’t alive in 1942, but Warren Buffett was), then it would have increased to $400,000 in 2018.

If you had invested the same amount in the stock market (the Dow Jones index), that amount would have become $ 51 million.

That’s a wild difference, right? A bit of an eye opener.

Why Shares Are the Best Protection

When you buy shares, you are buying a small stake in a company.

Good companies are able to protect themselves against inflation.


Inflation means rising prices.

You need to find companies that can let their prices rise with inflation – or even above inflation.

Think about it.

If everything rises 4 percent, would you stop buying toothpaste or juice because they also rose 4 percent?

No, right?

We’ll continue brushing our teeth and drinking orange juice for breakfast.

Hopefully the wage level will rise with inflation anyway.

Some companies are even better at protecting themselves because their customers aren’t so sensitive to price hikes.

Take Apple’s products, for example.

The average price of an iPhone rose from $ 650 to $ 1,000 in five years.

I remember buying an iPhone 7 in 2016 and for a brief moment realizing that I was paying much more than I had previously done for an iPhone 4.

It was more or less double what my previous phone had cost.

But then it wasn’t the same phone at all. It had a better camera, improved features, and a lot more memory.

In 2020, when I bought an iPhone 11 Pro Max, I paid double what I previously paid for the iPhone 7.

I know Apple has cheaper phones than the newest Pro Max, but I didn’t want the cheapest version.

I wanted the best tool I could find, because I use the phone to make YouTube videos and Facebook Lives, among other things.

… But Don’t Invest Blindly in Stocks

When interest rates rise, there is a risk that stocks will fall drastically.

Did you know that it took 29 years for stocks to regain what they lost after 1929?

Warren Buffett’s lineup with gold and stocks would have looked completely different if he had compared their development with 1929 as a starting point.

We are in a historic stock bubble right now that makes 1929 look like a kindergarten day trip.

Shiller’s PE ratio is a measure of how expensive stocks are. In 1929 it was 30, before the crash. Today it’s 38.

This means that shares are more expensive relative to their earnings today than they were at their peak in 1929.

In other words, you can’t just put your money in an ETF that follows a stock index (such as the Dow Jones index from Warren Buffett’s example).

You risk having to wait almost 30 years for your money to recoup.

What do you do instead?

You invest intelligently in stocks.

You need to invest with an eye on how expensive a company is trading on the stock exchange, and you have to make sure that you invest when it’s cheap or reasonably priced.

You can read much more about this in my free e-book here.







Three Mistakes You Make When Haggling

Three Mistakes You Make When Haggling

The other day on Facebook, I read some tips and tricks to negotiate discounts and rebates.

There were many creative ideas and examples of white lies.

Here are some of the tricks that came up:

  • One person always said “This is above my budget” and waited for an answer.
  • One asked for a student discount… in his seventies.
  • One person said they had seen a better offer elsewhere (a white lie).
  • One stated it was too expensive and waited for a reaction.
  • Someone lied in a house trade by saying the bank only approved a smaller loan.
  • Someone else called up a hotel and asked for 5 dollars less per night.

What’s the problem with applying for discounts and rebates?

There are three main problems:

Your Focus Is on Lack of Resources

What thoughts lie behind haggling?

It’s a mindset of seeing money as a scarce resource, and it’s rooted in a mindset of lack.

That mindset is being reinforced as you haggle and tell little white lies about not being able to afford something.

It may well be that you call it a “white lie” when you tell a clerk that you can’t afford a dress, but it becomes your truth.

What do I mean by that? It’s a phrase that you say out loud, and your subconscious mind is listening in.

When you say “It’s too expensive” or “It’s over my budget”, that becomes the reality you create for yourself.

Your psyche thinks, “Aha, that’s what you want” and begins to create situations that confirm it, over and over again.

Do you use affirmations? Those small, positive phrases that we say to ourselves to affect the outcome?

It can be phrases like:

“I can do this!”


“There is abundance in my life.”

“I attract prosperity from all sides.”

With the little white lies, you create negative affirmations.

You Won’t Get the Best

The wealthiest people do the exact opposite of haggling.

They pay more for things.

They spontaneously treat their friends to dinner, they give generous tips, and they look for quality when they buy things – almost ignoring price.

They don’t like sales (have you ever wondered why there are never sales in shops like Hermès and Louis Vuitton?)

I got help from a friend when I moved to Portugal. She had lived in Portugal before and could show me the shops and help me get adjusted.

While we walked around and bought everything from drying racks to floor scrubbers, she kept saying, “Get the most expensive one”.

“Why?” I asked.

“It’s better,” she replied.

As we stood by the drying racks, I noticed how the cheap one was light in material. The expensive one was heavy and seemed better quality.

This is often the case. Quality costs more. We already know that. The best ones won’t go on sale.

After she flew back home, I continued looking for the best quality above all.

When shopping for a hair dryer, I thought of my old one that I had left behind.

I had bought it on sale in Lidl shortly after I had been fired on maternity leave (oddly enough, I still remember the price).

At the time, the focus of my life was largely on lack and fear.

That hair dryer smelled of plastic – it smelled toxic – and that smell didn’t go away with time.

When I dry my hair, the children often come over and want me to blow on them. They think it’s fun. I was often torn between denying them a little everyday fun or sending hot toxic air at a dancing and laughing toddler.

I ended up throwing it out when we moved – which is so bad for the environment too.

What did I do at the store in Portugal?

I pointed to the most expensive one they had. It felt heavy and solid. It had a place of its own in the store. Slightly raised above the others, as if it were the king of the hair dryers.

They had to order it in for me because they didn’t have it in stock.

What did it cost? I can’t remember. I didn’t care.

Does it smell like plastic?

Not at all.

It’s worth all the money because now I can enjoy my children’s excitement without fear.

You Might Lose the Trade and Hurt the Relationship

When you’re in a situation where there are several buyers, such as buying a house, a service, or a recycled item, you could lose the deal if you begin to seek out a bargain.

If you start haggling over the house, you may lose the chance to buy your dream home.

If you ask for a discount at the hairdresser, she may ask you to find another place or get annoyed with you.

Both in my business and privately, I don’t bother to go ahead with those who ask for a discount.

I only want customers who pay the full price with an attitude of excitement and gratitude. They’re the most fun customers that focus on learning and getting the most out of it.

What Should You Do Instead?

Try to focus on prosperity every day.

Focus on how much you have and cultivate an attitude of gratitude.

It doesn’t have to have anything to do with material things.

You can go for a walk and enjoy the view. Enjoy the beauty of the scenery. Enjoy the generosity of the trees. The dance of the clouds. The fresh air. The chirping of the birds.

If you quiet your mind, you can reach a place where you can feel prosperity as a strong physical force.

Some will feel goosebumps. Others a trembling sensation of joy through the body.

Try to meditate on your inner sense of prosperity for at least 15 minutes three times a day. Morning, midday, and evening.

True prosperity is so much more than money. It is an inner sense of freedom, love, generosity, gratitude, physical well-being, and wonderful relationships.

There is an infinite stream of wealth, abundance, and prosperity, and it lives within you.

When you become good at cultivating this feeling, you’ll also attract outer prosperity.

It sounds like abracadabra, but it’s not.

Your inner world and your outer world are connected. Of course they are.

As long as you focus on chasing deals and getting special discounts, you focus on scarcity and the material part of prosperity.

The good news (for those who are stuck on “lack attack”) is that daily meditations on prosperity are completely free. Not only that: It’s also 15 minutes that you don’t spend chasing deals on stuff you’ll probably never use anyway.

How does this relate to investments? It’s a perfect fit.

You’ll become a better and calmer investor when you feel inner prosperity and abundance.

You’ll be less likely to panic and sell in fear or buy in greed because you are beyond that.

Learn how to invest with my (free) e-book Free Yourself. You can download it here

Ten Crazy Things People Dependent on a Salary Say

Ten Crazy Things People Dependent on a Salary Say

If you are dependent on receiving a monthly salary, you have a particular way of thinking that has been encoded in you through years of schooling and socialization in the job market.

There are some special phrases, sentences and wordings that repeat themselves.

Maybe you use them too, and maybe you have never questioned your choice of wording.

Have a look at this list of ten typical phrases.

Maybe you can recognize yourself in one or more of them?

1. “It’s Not Good for My Career to ____”

You can put almost anything in here.

For example:

“It’s not good for my career to have children now.”

“It’s not good for my career to move now.”

“It’s not good for my career to take a leave to travel the world.”

People who are addicted to work tend to rob themselves of – or procrastinate on – some of life’s greatest gifts because they elevate their careers to a sacred spot.

It may not be consciously that they place a higher value on work than life.

It may be caused by an inner insecurity about what will happen and how they’ll survive and support their family if they don’t have a “career”.

But what exactly is a career?

It sounds like a thing you should have, right?

But what does that mean?

It means a job where you strive to do it well so your boss will approve and give you a promotion. But let’s be honest, it’s a job, even if it’s a fancy one.

Try to replace the word “career” with “job”.

“It’s not good for my job right now that I take a leave to travel the world.”

That sounds silly, right?

Try not to use the word “career”.

It makes you behave in a certain way that’s not really in your interest.

Avoiding the word “career” abolishes that tendency to put the world of jobs and salary on a pedestal as something almost sacred. Almost religious..

2. “There’s a Gap in Your/My Resume.”

Thinking of a resume as something fragile that unravels if you are not constantly on the go is probably one of the most foolish one of the most foolish mistakes you can make.

Nevertheless, both employees and employers often think along those lines.

You even hear the question during job interviews.

“Why is there a gap in your CV from 2009 to 2010?”

HR people ask these questions.

I think you should challenge it. Explain what you spent the time doing and emphasize what skills you got out of it.

Maybe you can even explain it on the resume so you tackle the gap question upfront.

3. “It’s Good for Your Resume”

I wish people didn’t make decisions solely based on how impressive it looks on a piece of paper.

But they do.

People take courses, do internships, and even pursue education and jobs because they think about what impression it gives on their resume.

Next time you say something about how it looks on a resume, try saying “It will look good on a piece of paper” instead.

Silly, right?

How about thinking about what skills you get from those pursuits and how you can use them in the future?

4. “I Can’t Afford to Take That Course”

The best investment you can make is an investment in yourself.

When you ask yourself if you can afford to do something, also ask yourself if you can afford not to do it.

When I sign up for a course, I always ask myself what it will take before I can earn that money back with the new skills I get.

There is usually not that much that needs to happen.

This is how entrepreneurs and investors think.

I don’t think much about what it costs – I think much more about what I can get out of it and what it can do for me and my clients in the future.

5. I Can’t Afford to Hire Help

I can’t afford cleaning help. I can’t afford an accountant. I can’t afford a babysitter.

Okay. So you say.

Have you calculated what you make in an hour?

Don’t you earn more than a cleaning assistant per hour? I should hope so.

You think like a wage slave who sees money as a fixed monthly salary.

Entrepreneurs and investors know that time is money, and that they need to buy more time by outsourcing so they have as much time as possible to focus on what they are good at.

6. “I Don’t Have Time to Pursue My Hobby”

You don’t have time to play tennis, swim in the ocean or do horseback riding (or whatever you love)?

You’re robbing yourself of the most precious thing in life … namely, life itself.

Time-poor people are the new poor.

Unfortunately, it’s very common to not prioritize old hobbies in order to have more time for a career.

7. “Do You Want to Meet for a Coffee in Week 34?”


Normal people don’t talk like that.

Oh, wait. All the career people do.

If you find yourself thinking in terms of ‘project weeks’ and have to plan beyond this week and next in order to schedule time for your best friend, it’s probably a sign you should kick it down a notch.”

8. “Sorry, I Can’t Tell You How Much I Earn”

It’s a shame to think like that, because you and your colleague have no opportunity to assess whether you get a reasonable salary or not.

At least be transparent with your colleagues. Transparency can put you and your coworkers in a better position when you have to renegotiate your salary.

9. “I Can’t Resign or Change Jobs Because They Need Me”

I’m sorry to tell you the harsh truth, but your workplace wouldn’t bat an eye at firing you.

You don’t owe them your life.

I made this mistake early on in my career when I worked as an office manager.

I thought the office would fall apart without me, and I postponed an internship at my dream workplace for 6 months (a newspaper).

To be in good standing with the new place, I found another guy to take the internship for the first 6 months.

Guess what. They hired him for a real permanent job – not me. He got there first.

The office management job couldn’t even find the time to write me a decent recommendation.

I still resent to this day that I wasn’t more selfish.

10. “What Am I Going to Do With All That Money?”

Some people think they will get corrupt if they have too much money.

They almost feel that it’s immoral to have more than their monthly salary in the bank account.

Where in the world does that idea come from?

Money isn’t dangerous. Money is a wonderful tool for living a great life.

Learn to appreciate money and make it grow so you have other sources of income than your paid work.

If you want to learn how to invest in stocks, you can download my investment book, Free Yourself, right here.


Seven Steps to Master the Courage of Investing

Seven Steps to Master the Courage of Investing

I often meet people who want to invest in stocks but can’t bring themselves to get started.

It may be laziness or fear that holds them back – or perhaps a mixture.

The composition of the emotions is irrelevant, as the cure is the same.

In this blog post, I’ll give you seven steps to break through whatever is holding you back and take the plunge.

1. Set a Specific Goal

Find out what it is you want to achieve. Write it down on a piece of paper or in a notebook.

It sounds silly that this is necessary, but it is.

It’s important to make the goal very clear and specific. If you’re doubting what the goal is, you won’t achieve it.

Is it getting started investing? How much do you want to invest and by when?

Do you want to invest $1,000? $10,000?

Do you want to invest your retirement savings yourself?

It’s important to be specific and to set a concrete deadline, because if you don’t know exactly what you want to do and by when, you won’t get it done.

The goal must be ambitious compared to where you are now – but also realistic and concrete.

2. Say It Out Loud

We spend a lot of energy on not losing face in front of others and trying to seem consistent to those around us.

Sometimes we are more eager to keep our word to other people than we are eager to keep our word to ourselves.

You can use this to your advantage.

Tell people you trust about your goal and ask them to inquire about your progress.

3. Set Up Sub-goals

Sometimes we lose steam because the goal seems abstract.

That’s because you haven’t divided the elephant into edible pieces.

What do you need to do to reach your goal?

If the goal is to get invested for the first time, a sub-goal may be to open an investment account. Another one could be to transfer money.

If the goal is to invest your retirement yourself, a sub-goal may be to call the bank to open a 401K or to get them to request a transfer from wherever your retirement savings are.

Now that you’ve set up sub-goals, be sure to do a little each day. One step forward all the time. Do not procrastinate.

I’ve written more about this in the blog post about being effective here.

4. Decide On a Reward

When you achieve your goal, you need to reward yourself. Decide in advance what that reward is, so you have something to look forward to.

It’s important to celebrate your success.

It should be self-pampering and preferably sensual, like a good dinner, a spa day, or a professional massage.

5. Select a “Punishment” For Failure

No, do not start whipping yourself as the sensual opposite to the reward.

An appropriate punishment could be to donate a considerable amount to a charity. The amount must be large enough to matter to you.

6. Count Down From Five To One

When I was a child, I almost drowned in a pool. I was around seven years old when I visited my best friend after school. She had pool, and there were no adults at home. We thought it was a brilliant idea for me to sit on a swing that hung over the pool, as I couldn’t swim but would still be part of the fun.

My friend pulled the swing to the edge, and I swung myself onto it. I sat there rocking while my friend and her younger brother swam around me.

The problem occurred when I had to return to the edge of the pool. My friend and her brother couldn’t pull the swing to the edge because of the weight. I had to jump into the water. There was no other way.

I remember the bubbles and the panic, and I’ve been a little afraid of water ever since.

Today we live in a house by a pool in Portugal, and it’s important that my two boys learn to swim. I’ve decided to swim every day, with or without them.

I have to force myself to go in the pool and show them that it is not dangerous, and that swimming can be learned.

If I go down the stairs, they can read the fear in my face, and I end up going up again before the water reaches my navel.

There is only one way to do it, and that is to hack myself.

I go to the edge at the deep end, count down from 5 and jump in headfirst. Once I’m in, it’s fine. The counting down trick works. By the way, I learned this from Mel Robbin’s TEDx talk.

The point here is that courageous action only requires a brief moment of courage. It may feel like you’re spending weeks gathering courage, but you’re not. It’s just a few seconds at a time.

7. Ask Yourself: “Who Will I Become If I Let Myself Down?”

Do you remember as a child when an adult made a promise that they didn’t keep? Do you remember the disappointment? Do you remember how you stopped believing in them if it happened repeatedly?

It’s the same thing.

If you make yourself a promise that you don’t keep, you’re failing yourself, and the more you fail yourself, the more you’ll stop believing in yourself.

The good thing is that it’s actually easy to get things done if you learn to hack your defense mechanisms by counting down from five to one.

The more you do it, the better it seems to work. In the end, your psyche knows that when you count, it’s serious.

And now you can count down from five to one and click here to download my investment book, Free Yourself. It will only cost you the hour it takes to read it. 

Ten Personal Rules for Getting Things Done

Ten Personal Rules for Getting Things Done

In just a few weeks, I have moved myself and my two children from Nørrebro in Denmark to Cascais in Portugal.

It has been a huge project with so much involved: finding a new house, a new school, getting the old apartment sold, sorting, packing, and shipping our belongings, emptying an apartment of big and small things, getting it cleaned, closing a business and opening a new one, getting the new house furnished, getting gas, internet, and phones up and running, getting a local bank account, hiring a housekeeper, getting the new house cleaned and organized, and unpacking all the boxes.

How did I get it done? Alone with two children, and so fast?

I’ve realized that I have an operating system without knowing it. I have a certain way of doing things, and it’ actually pretty efficient.

Here are my key principles:

1. Write It Down

Between you and me: I love making lists.

When you write something down, it relieves the brain of the burden of trying to remember it.

The to-do list has a bad rep, but it should be honored.

Some people say it makes you focus on chasing your own tail because you focus on the amount of things that need to be done without prioritizing.

I say that no one can remember much in their head, so it’s important to get it all written down, and then you prioritize the tasks afterwards.

Here’s how I do it:

I write a large list on the first page of a notebook. I set aside pages so I can keep adding things to the “main list”.

I use the rest of the book for making daily lists. I make a new page every day. When I put the daily list together – which I do the night before so I can sleep peacefully – I make sure that there is at least one task that is important and high-priority.

2. Get Something Done Every Day

You need to move forward smoothly, and that’s why it’s important to get something done every day. As the saying goes: the way to eat an elephant is one bite at a time.

I actually used the same principle on an hourly schedule when I had to pack tons of boxes and later unpack the same boxes. It seems so unmanageable to stand in front of a mountain of 32 boxes.

I told myself just to take one box at a time and that it was okay that it was just one box for now. One box an hour would get me far in a few days.

3. Do the Hardest Thing First

My oldest son (8) has already learned this principle. He abhors having the nail on his little toe cut. That’s why he always asks me to cut it first, and I praise him every time for it. Doing it that way, it’s over fast, and he doesn’t have to dread it the rest of the time.

There are always some tasks that are fun, and some that are difficult. Most people tend to take on the easy task first. Instead, you need to go consciously after the worst task first, getting it out of your way so it doesn’t bother you the rest of the day.

4. Do the Little Things Right Away

“Just answer right away.”

My favorite professor at NYU told our class this. I no longer remember the context, but I remember the point.

If you can reply with a simple message to an email, reply immediately so it doesn’t become yet another item on your to-do list. It keeps the number of things on your list down.

For small things that take less than a minute to get done, just do them right away. Of course, you need to be a little mindful when checking emails so that you don’t constantly interrupt yourself.

In the relocation situation, this has meant that if I spotted something important that I could not forget to pack, I immediately went and put it in a box so that the thought would not bother me again and again.

5. Do It At the Right Time

Some tasks require you to be vigilant and sharp.

Do those tasks when you are vigilant and sharp.

I can’t write blog posts late at night. They turn out better if I write them early in the day. So, I’d rather go to bed early and set the alarm clock for 5 a.m. to get them written.

6. Delegate Tasks

I’m a single mom with no parents or family around, but I still get a lot of help from others.

Some are paid helpers and some are not.

I have an accountant and a lawyer in Portugal to help with the practicalities of getting a NIF (this is the kind of tax number you need to order or buy anything bigger than a pencil).

I hired someone to shut the old apartment down.

At the other end, I hired someone to open the new apartment and pick up and assemble the new furniture.

I also got help from friends.

A friend with a flair for decor made a giant IKEA shopping list for me. Another friend helped me empty the last of the things out of the apartment.

A third friend, who herself has lived in Portugal, flew in with us and helped keep track of the boys a little and helped me find my way to the nearest supermarket and back.

While she was here, I hired a cleaning assistant and a housekeeper.

7. Make Quick Decisions on Non-Essentials

Some decisions require careful consideration and analysis. Most decisions don’t.

Who to marry is a big decision, but where the first date takes place isn’t really that important. That’s the kind of decision you need to force yourself to make in less than a minute, because if you’re not careful, it will swallow hours of your time. Which country you want to move to is important, but which airline or moving company you choose is not.

In the investment world, it’s important to analyze what you want to invest in, but which platform you use is less important. I mention this because many actually get stuck there, which is silly.

In my process, this has meant that it took me 45 seconds to choose a name for the new companies that I opened, 20 seconds to choose a bank, 20 seconds to choose an ISP, and so on.

These are small decisions that you shouldn’t let drag on.

8. Get There Early

As I say to my oldest child: “the difference between leaving early and being late is the difference between being able to appreciate the birds chirping.”

When it’s a habit, it’s really the difference between being happy or not.

I can’t stand being late. It creates chaos, a foul mood, and it gives a bad first impression

Leave early, show up first, and be prepared.

This also applies when you have to finish packing or when you’re going to the airport.

Life is more fun and enjoyable when you give yourself enough time.

9. Keep it Simple

There are always several ways to do things, and I always ask myself which way is the most simple and straightforward.

It’s called “simple living.” Part of the philosophy is that you don’t have to have so many material things, and the ones you have, you don’t always have to own them.

I have chosen to live in a condominium, as they call it down here. It’s a guarded compound with a shared pool and garden.

This means that I don’t have to worry about taking care of a yard, caring for the pool, picking up packages (they can be delivered at the gate), driving my children to playdates (so far they have playdates with the other children in the same area, and they just run back and forth between the houses).

In the investment world, simple can mean having a buy-and-hold strategy so that you don’t have to constantly find new investments.

10. Get Help From the Best

This isn’t so much about delegating as it is about learning, taking advice, and imitating.

You shouldn’t listen to people who don’t have success in the field you want to master. Uncle Harry, who is deep in gambling debt, obviously has an attitude about what to invest in, and his eyes get a little big and greedy when he lectures you.

Aunt Jane who’s never lived abroad will tell you that you are selfish if you emigrate. She’ll tell you that it’s bad for the kids.

Instead of asking around randomly, seek advice from those who really know and have experience. Ask someone who lives in Portugal how their children are doing. Ask that person for practical advice to find a shortcut.

It’s your job to find the right advice and inspiration.

It pays to buy that kind of advice if you don’t know anyone in your circle.

If you want to learn about investing like Warren Buffett, you can download my investment book Free Yourself right here.