My friend is a young 41-year old millionaire. And the poor guy is basically broke!
Meanwhile there’s a conservative yet savvy grandma in the Midwest raking in more monthly income than my boy, on a modest $387,000 in savings.
What’s her secret? We’ll get to that in a minute. First, let’s lament my man’s millionaire curse.
His stash of cash does him no good, other than giving him something to worry about. His million-dollar problem? He doesn’t know how to turn his green pile into a steady, sustainable income stream.
And since he believes in efficient markets, he has no interest in exploring investments that could pay him 7% or 8% annually – providing him with $75,000+ in yearly income while leaving his capital intact (or better than intact) to boot.…