A Millionaire State Of Mind: Part 2

Summary

• Fortunately, I don’t need to rely on winning ridiculous wagers to make a million dollars. There are much safer ways to go about it.
• By the age of 27, I was a millionaire (on paper) and creating wealth – quickly! – by understanding the power of value investing.
• As a real estate developer, the principle of “buying low and selling high” was my primary pillar for success. And as a REIT investor, that happens to be the same.
• Looking for more investing ideas like this one? Get them exclusively at iREIT on Alpha. Get started today »

I saw a poster recently that says:

(Source)

Since I imagine that’s true for all workplaces, I suppose you could say that 2020 didn’t disappoint after all. And I have to imagine that, with a track record like the one already established, 2021 won’t either.

Now, before we celebrate too hard, I do have to point out that poster variants exist. Many leave room for employees to fill in the number, an option that may or may not be being abused.

I’m not trying to call anyone a liar here, mind you. But I do find it difficult to believe that a velociraptor “incident” would have occurred five days ago without making the news.

As such, let’s assume individuals marking their posters such are at least intensely misinformed. That way, we can all agree that – more than likely, and all things considered – nobody will be attacked by a velociraptor anytime soon.

In fact, I’m willing to bet a million it won’t happen in the next decade.

Though you’d better believe I’ll be watching out for whenever Jeff Bezos, Elon Musk, Richard Branson and other billionaires stop focusing on space travel and start throwing money at time machines.

After that, all bets are off.

(Source)

The Millionaire Next Door Revisited

Sadly, I can’t see anyone taking me up on my velociraptor bet. There are a lot of suckers out there willing to put their money down on some obviously bad ideas.

But this one? It’s probably a bit too big for even the worst yield chaser ever.

Fortunately, I don’t need to rely on winning such wagers to make a million dollars. There are much safer ways to go about it, even if they tend to take a lot longer than a year or two to pan out.

This

Analyst’s Disclosure:I am/we are long KRC, VICI. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.