A New Way to Think About Becoming a 'Rich Man'

Why we do the work... Revisiting 'Rich Man, Poor Man'... You must beat stocks, bonds, and inflation... A new way to think about becoming a 'rich man'... How to play the game... Sign up now for Eric Wade's free 'Crypto Cash Summit'...

A few weeks ago, Crypto Capital editor Eric Wade asked his subscribers a few questions...

Basically, Eric wanted to hear about his subscribers' experiences with his newsletter in general... along with details about any specific results they've experienced since joining.

The response was overwhelming. Hundreds and hundreds of notes soon arrived in our feedback inbox...

We heard from folks who said they've made anywhere from a few thousand dollars to a few million dollars on Eric's recommendations in the cryptocurrency-focused newsletter over the past few years.

The overall glowing tone of the feedback didn't surprise us... After all, regular Digest readers know Eric is our go-to source for everything about cryptos.

But the amount of responses that came in is what impressed me (Corey McLaughlin) the most. Mostly everyone explained that Eric's work had changed their perception of crypto investments and expressed their gratitude for signing up for the service. Here is Bailey O.'s note...

Crypto Capital was my first introduction to both Stansberry and cryptocurrencies in general. I sold a rental property in early May of 2020 when I decided the stock market was coming back faster than the housing market was rising...

Let's just say that that one house turned into the equivalent of several houses, and my subscription cost is a rounding error. Thank you sincerely for all the hard work and dedication.

And Robert B. wrote in...

My prior experience has been and still is in commodities. However, while I was learning about [bitcoin] and blockchain, I eventually understood how crypto is going to impact our lives and eventually change the world. I knew I could not stand by and watch... I had to be involved.

However, at my age (65), I found that getting involved in crypto was not as easy as I had thought. I did not know of anyone that was invested in crypto and therefore I had no one to discuss it with. That in part is why I joined Crypto Capital. During my initial learning period, I spoke with customer service on three separate occasions, each time the staff was very helpful and professional.

For the first four or five weeks, I took Eric's advice and learned about the different types of Crypto, Exchanges, Wallets and the necessary security measures needed. I purchased my first Crypto the end of November 2020. By mid-May [of this year], my portfolio had increased by a factor of 7.5, I had pulled my hard money out of 1/2 the positions and collected a $170k in realized gains.

On the other end of things, one relatively young subscriber, Aristotle M., said he made enough money in Eric's recommendations to be able to leave his job at age 29... and follow his dream of launching his own investment advisory firm.

We could go on and on, but we'll share just one more. Darius K.'s message reflected a common piece of feedback we often hear about Eric's work – his attention to detail. As Darius wrote...

Thank you again for your amazing wisdom, dedication and integrity – I have subscribed to several other newsletters over the years, and yours is truly unique and in a class by itself. It is the only one that I would unhesitatingly recommend to anyone!

We don't want to get sappy, but it's truly meaningful to read messages like these...

This is why we do the work that we do...

Frankly, there's just not enough people in this world providing the type of independent financial research we would want if our roles were reversed. But we know the need exists... and we're happy to do it.

To have a person like Eric on our team is something we're very proud of... He takes the time to research and explain the ins and outs (and, yes, the risks) of a new, innovative technology like cryptocurrencies and blockchain to everyday people.

Eric is a rare breed, as his subscribers can attest...

We only know one person who bought the domain name wallstreet.com before most people knew about the power of the Internet and sold it for $1 million... and he's it.

We also only know one person who used to work as a certified financial manager at Merrill Lynch, helping people with their retirement planning through traditional stock and bond advice... and is now "all in" on cryptos... and he's it.

So when Eric has some new information to share with the masses, we almost feel obligated to pay attention and pass it on here in the Digest... That's especially true when he's saying that he has now come up with something that is the culmination of his life's work.

By now, you know it's not terribly easy to become a 'rich man,' so to speak...

We're referring to the idea of becoming truly rich... in a financial sense (not spiritual or anything else).

To me, that means you don't really need money any more in the way that most people do. And it means that you understand money can't buy you happiness... but that it can provide you the freedom to do what you want.

We've used the term "rich man" before, most recently in the September 9, 2020 Digest, citing its use by the former financial newsletter writer Richard Russell...

Russell was a noted contrarian... Among other things, he started recommending gold in the 1960s and called the end of a bull market two months before the 1987 stock market crash.

One of his most famous essays is "Rich Man, Poor Man." In it, he said that while predicting the direction of the stock or bond market can certainly help you make money, truly wealthy investors know about a few more important fundamental secrets to getting rich...

Specifically, Russell talked about why it's crucial to make money on the money you have already... how best to do it... and why this idea makes the difference between being a "little guy" and a "rich man." As he wrote, rather bluntly...

Because the little guy is trying to force the market to do something for him, he's a guaranteed loser.

The little guy doesn't understand values so he constantly overpays. He doesn't comprehend the power of compounding, and he doesn't understand money.

He's never heard the adage, "He who understands interest – earns it. He who doesn't understand interest – pays it." The little guy is the typical American, and he's deeply in debt.

The little guy is in hock up to his ears. As a result, he's always sweating – sweating to make payments on his house, his refrigerator, his car, or his lawn mower. He's impatient, and he feels perpetually put upon. He tells himself that he has to make money – fast.

And he dreams of those "big, juicy mega-bucks." In the end, the little guy wastes his money in the market, or he loses his money gambling, or he dribbles it away on senseless schemes. In short, this "money-nerd" spends his life dashing up the financial down-escalator.

But here's the ironic part of it. If, from the beginning, the little guy had adopted a strict policy of never spending more than he made, if he had taken his extra savings and compounded it in intelligent, income-producing securities, then in due time he'd have money coming in daily, weekly, monthly, just like the rich man. The little guy would have become a financial winner, instead of a pathetic loser.

Longtime subscribers likely know the concepts that Russell was referring to...

Essentially, he's talking about the fundamentals of basic finance (if you want to be rich)...

Save more than you spend, then invest the rest in something that will appreciate in value (or compound) over time... beat whatever interest you're paying on your debts... and ideally, we will add for today's times, beat inflation, too.

On balance, if your money is making more of a return than your expenses are eating away at your nest egg, you'll be much more wealthy over time than you were when you started out.

That brings us to the important question... Where can you put your money today in order to become a "rich man"?

It's hard...

As we write, stocks are more expensive than they've been in most of modern market history... The chances of them returning the same ol' 10% a year over the next decade aren't that great.

Bonds are paying 1% or 2% interest if you're lucky. For most people, banks are simply becoming a place to have a liquid checking account rather than making any significant amount of interest.

And at the current moment (and we don't know exactly how much longer)... inflation is running higher than it has in years... That could be troubling for those folks living on a fixed income.

Plus, there's only so many times it makes sense to refinance a mortgage... and real estate prices just keep on climbing (good for homeowners, harder for homebuyers).

We talked a lot about this scenario in the run-up to our colleague Dr. David "Doc" Eifrig's recent retirement "wake-up call"...

And while Doc didn't get too much into cryptos during his event, we know that he does acknowledge the place and use for them in a small percentage of a well-diversified portfolio – if you have someone you know you can trust to make recommendations, of course.

That's where Eric comes in...

Next week, Eric is hosting what he's calling our first-ever 'Crypto Cash Summit'...

Why?

If only there were an alternative to all the monetary nonsense in Washington... the often antiquated and slow-to-adapt financial system... and assets that will pay you less than you're paying on a mortgage payment...

If only there were a way to "opt out" of it all...

Well, Eric is here to tell you that there is. This is basically the entire reason why the concept of decentralized cryptocurrencies exists.

We always go back to the original "whitepaper" that made bitcoin famous... It was published back in 2008 by the pseudonymous inventor Satoshi Nakamoto. He described bitcoin as a "peer to peer" electronic cash transfer system with no middleman.

Today, that's exactly what we see continuing to grow...

We're not talking about bitcoin becoming the world's "reserve currency" in the traditional sense, as has been debated. Bitcoin and its underlying blockchain technology aren't traditional.

That's the point.

Every day it seems, new technologies are becoming more widely available that allow folks to directly lend money, in the form of cryptos, to each other – to essentially be the bank themselves – and to put their money to work.

As with anything, though, it's for better or worse...

For a few years now, we've talked about "stablecoins" that offer 8% interest on your U.S. dollar deposits, for example. And today, a growing number of coins offer yields – some higher, some lower than that.

Importantly, though, this interest rate will beat even most folks' highest inflation expectations today. As we wrote in the March 15 Digest...

You know, the type of interest that you used to be able to get for your savings in a federally regulated bank.

It's part of the "DeFi," or decentralized finance movement that Crypto Capital editor Eric Wade has written about as the real crypto boom to watch in 2021. And it's a part of the crypto world that a lot of folks don't quite understand just yet.

Of course, with anything, you must keep the risks in mind...

We don't recommend you dive into this space blindly. Anything that offers a high yield is doing so for a reason, which is key to understand if you want to be a "rich man," too.

As our colleague Dan Ferris described several weeks ago and we've pointed out before, there are people playing with fire, making super-leveraged bets... and taking out loans on their crypto holdings – much more than they can afford.

At the same time, as Dan wrote, when bitcoin's price got cut in half this year, the entire "system" didn't implode either...

The point is, there's a right way to play the crypto game...

And Eric knows it better than anyone else we know...

Since the start of 2020 alone, he has closed out seven different recommendations that could've helped his subscribers make 1,000% to 2,100% gains or more.

As one subscriber put it, Eric became the "Wilt Chamberlain of Stansberry Research" earlier this year when we broke out his top-returning picks into their own "Hall of Fame" at the bottom of our daily Digest... instead of including them with the rest of our recommendations.

He was "so good they had to change the game," the subscriber's feedback e-mail noted.

That's why we're very excited to see everything that Eric has to say next week during his Crypto Cash Summit...

He plans to tell folks how to generate annual income of 10% to 35% in cryptos... plus the potential to earn 1,000%-plus capital gains. And he's not talking about buying bitcoin or Ethereum... or dealing with the bouts of volatility that can come with them.

Instead, he's talking about names that 99% of Americans have never heard of before...

Like many hot topics, a lot of what you'll find about this subject on the Internet contains plenty of hype and overpromise... But Eric does the "dirty work" through his detailed research. He brings a wealth of experience that is, simply put, very rare in our industry today.

(Anyone who subscribes to Eric's work knows we can't quite do his attention-to-detail and service justice here in one Digest... If you have your own examples, please e-mail us at feedback@stansberryresearch.com.)

The skepticism about cryptos now is exactly why this is such a great opportunity...

After bitcoin's big sell-off earlier this year (which we warned about, by the way), people are skeptical about the entire crypto space again... and the ideas that we're talking about. Our distant relatives aren't asking us about bitcoin and Ethereum anymore, for instance.

But as we see it, the promise about cryptos is actually coming to fruition in real time, if only you understand what's going on beyond the mainstream headlines. Eric put it this way to us...

If you take the advice he's going to talk about next week, it could be like buying bitcoin back in 2017 when it was trading for less than $3,000.

In short, right now, the opportunity exists to potentially make life-changing, "rich man" gains in this new frontier of finance... And you can do it through an alternative way that many people have been clamoring for in one way or another for years.

But don't just take my word on it. If you're interested in what I've said today at all, I urge you to tune into Eric's first-ever Crypto Cash Summit on Wednesday, July 21 at 8 p.m. Eastern time...

The education will be well worth your time alone. Plus, just for tuning in, you'll get access to a free crypto pick... and just for signing up, you'll get free, instant access to a brand-new three-part "Master Class" that Eric has put together.

We just ask that you register in advance to make sure you don't miss a thing. You can do that right here.

Why You Must Be Nimble to Survive

Greg Weldon, founder of Weldon Financial, says the extremes we're seeing today in the weather, politics, and the markets are not a coincidence. And he shared his game plan to protect himself during the coming "monetary Armageddon" with our editor-at-large Daniela Cambone...

Click here to watch this video right now. For more free video content, subscribe to our Stansberry Research YouTube channel... and don't forget to follow us on Facebook, Instagram, LinkedIn, and Twitter.

New 52-week highs (as of 7/14/21): Apple (AAPL), Automatic Data Processing (ADP), American Homes 4 Rent (AMH), American Tower (AMT), AutoZone (AZO), Bristol-Myers Squibb (BMY), Alphabet (GOOGL), Hershey (HSY), Coca-Cola (KO), McDonald's (MCD), Microsoft (MSFT), ProShares Ultra Technology Fund (ROM), Starbucks (SBUX), TFI International (TFII), and Visa (V).

In today's mailbag, feedback on yesterday's Digest about used cars and the Federal Reserve. What's on your mind? As always, e-mail us at feedback@stansberryresearch.com.

"Can you imagine the slick lines that car dealers will be coming up with to counter the folks who have been reading about their used cars being worth more than new ones, when they begin piling into dealerships and insisting for more than the typical lowball quotes offered on trades or sell-backs? Should be pretty entertaining.

"If you think your two-year-old Camry with 30,000 miles on it is worth more than a new one can be had for, then I've got three words for you: 'Private Cash Sale.' Otherwise, let me know how that works out. My late wife had a dealer license, and that business and its myriad shenanigans, hasn't evolved much since the 1950s." – Stansberry Alliance member Jim S.

CHAIRMAN POWELL, 'Mr. REARVIEW MIRROR Driver'...!!!

"No one should be surprised that Chair Powell promises to keep his foot on the Easy Money Gas Pedal, in spite of RECORD Inflation numbers that are WELL ABOVE expectations. So the real question(s) are, 'how long will inflation be above target and at what point will you act if they are?'

"To put it bluntly, Chair Powell 'does not know.' Which is phenomenal in that the FED must see 9 to 18 months into the future BECAUSE that is how long it takes for FED Monetary Policy to bleed into the REAL Economy.

"SO, come back for the Big Teton FED Party at Jackson Hole to find out more. In the meantime, to quote Chair Powell, 'we'll have to wait until we have conclusive (rearview) data to confirm or deny that current unrestrained inflation is really Transitory or not.'

"BUT, Chair Powell did LET A CAT OUT OF THE BAG. Even if inflation abates, he cannot guarantee prices will come back down. That is code for 'would you like to buy the Brooklyn bridge?'

"Note: You can't have it both ways. Either Chair Powell really doesn't know if and how much Inflation is persistent. Or, he is fluffing our bunny (or, attempting to 'sell us the Brooklyn Bridge'). By the way, Prices that don't come back down become inflation inputs to something else. Jpowell knows this all too well.

"This is not going to end well, and may well end sooner than we think. Meme Stock sales and current trader fears suggest caution is in order." – Stansberry Alliance member Bill B.

Corey McLaughlin comment: Well said, Bill. But I think you may have now spoiled our shot at an invite to this year's Big Teton party! Oh, well.

All the best,

Corey McLaughlin
Baltimore, Maryland
July 15, 2021