Long Term Wealth vs Short Term Wealth Choosing the Right Strategy

Jake Claver

In this video, we'll discuss the differences between long term and short term wealth, and help you choose the right strategy for your financial goals. Learn about the benefits and drawbacks of each approach, and get valuable insights to help you make the best decisions for your financial future. Watch now to learn more!

Transcript

00:00I'm going to tell you a story about a guy that I met last year in Miami.

00:03He was an Ethereum billionaire.

00:05He bought ETH by ICO and he lost his wallet and it was gone for five years and he found

00:10it in a closet and so he was a billionaire.

00:12And what I find about people that get rich in that scenario is that they want to continue

00:19to double down and like throw it on red or throw it on black and try to double their

00:23money very quickly.

00:24And there's a definite difference between the way wealthy people manage their money

00:27and people that got rich quick manage their money.

00:30People that have long-term wealth and family wealth, they diversify over a large swath

00:35of the economy and are very risk adverse.

00:38They want bets that are inversely correlated where somebody that got wealthy very quickly,

00:42they will often throw down again on the same thing.

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Transcript

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