You’ve been sending me questions faster than I can answer them. So here’s a rapid-fire Q&A session based on what you’re actually asking: Q: “Should I pay off debt before investing?” A: This question tells me you’re still thinking like a broke person. Rich people do both simultaneously. Build emergency fund, pay off massive amount of debt, and invest in retirement accounts. The goal isn’t debt elimination - it’s wealth building while managing debt strategically. Q: “How much should I have in my emergency fund?” A: Stop obsessing over emergency funds. You don’t need 6 months of expenses sitting in a savings account earning 4% APY in a HYSA. Start with $3000-10,000 (depends on your cost of living, dependents) and invest the rest. Your investments ARE your emergency fund if you do it right. Q: “What if the market crashes right after I invest?” A: Then you buy more. Market crashes are sales, not disasters. I bought everything during COVID when everyone was panicking. Best financial decision I ever made. Fear of market crashes keeps you poor. Q: “Should I do a backdoor Roth IRA?” A: If you’re making over $165K, yes. And get a CPA immediately. Don’t try to figure this out yourself. Pay the $800-$2,000 for professional help. It’ll save you $20K+ in taxes you didn’t know you could avoid. Q: “How do I know if I’m ready to invest in crypto?” A: You’re never “ready.” You just start. You start when you have eliminated all consumer debt. Consumer debt is debt that doesn’t put money into your pockets every month). Q: “What’s the biggest mistake people make with money?” A: Thinking it’s about the numbers. It’s not. It’s about psychology. Your money beliefs - inherited from broke people - control every financial decision you make. Fix the beliefs, the money follows. Q: “How do I get my spouse on board with aggressive investing?” A: Stop asking for permission. Start showing results. When your investments start making money, they’ll get on board. Leadership is about action, not consensus. Q: “Should I buy a house or keep renting?” A: Depends on your market and goals. But stop thinking your primary residence is an investment. It’s not. It’s an expense. Buy rental properties if you want real estate investments. Q: “How much should I spend on coaching/education?” A: As much as you can afford and then some. I spent $200K on coaching in 2 years. Return on investment? Multi-million dollar net worth. A profitable business. My dream lifestyle- living in 2 countries. Your education is the only investment guaranteed to pay off if you actually implement. Q: “What if I fail and lose everything?” A: Then you’ll learn more in 6 months than most people learn in 6 years. Failure is education. The only real failure is not trying and staying broke forever. Q: “How do I know which investments to choose?” A: Start with index funds for boring money. Bitcoin for exciting money. Real estate for cash flow. But honestly? The specific investment matters less than actually investing consistently. Q: “Should I pay off my student loans aggressively?” A: Depends on the interest rate. Under 5%? Pay minimums and invest the difference. Over 7%? Pay them off faster. But don’t sacrifice retirement contributions to pay off 4% loans. Q: “How do I deal with family who think I’m being reckless?” A: Smile and nod. Then do what you want anyway. Your broke family members don’t get a vote in your wealth-building decisions. Their advice got them where they are - do you want to be there too? Q: “What’s the fastest way to build wealth?” A: If you have consumer debt, then start by increasing your income aggressively while investing the difference. Job hop every 2 years for 15%+ raises. Negotiate ruthlessly. Start a side business. Then invest everything extra into appreciating assets. Q: “How do I overcome fear of losing money?” A: Start small and build confidence through action. Put $1,000 in the market and watch it for 6 months. When you see it grow (and survive the dips), increase to $5,000. Confidence comes from doing, not thinking. Q: “What’s your best money advice?” A: Stop thinking like someone who stays broke. Rich people make decisions with incomplete information. Poor people research forever and never act. Which one are you?
The bottom line:
Most of your money questions are really fear questions in disguise. “Should I invest?” = “What if I lose money?” “How much emergency fund?” = “What if something bad happens?” “Which investment?” = “What if I choose wrong?” Rich people feel the same fears. They just act anyway. Your turn. Unconventionally Yours, Sam P.S. If you have a question I didn’t answer, reply to this email. But I guarantee the answer is some version of “stop overthinking and start doing.”