How do wealthy people invest? What do they do? How do they think?

In this episode we address the entrepreneurial dilemma, and strategies to begin the wealth-building process. Listen on Apple or Spotify!

About Indestructible Wealth: I’m Jack Gibson. I’m your wealth strategist and I’m here to help you make some money. The Indestructible Wealth Podcast is for young entrepreneurs who want to make, keep and grow wealth to enjoy now, and for years to come.

Episode #1 – The Way of the Wealthy.

Welcome to the Indestructible Wealth Podcast. This is the place where we help young entrepreneurs to make, keep, and grow wealth that you can enjoy now, and for years to come.  I’m your host Jack Gibson, a serial entrepreneur, founder of multiple seven and eight figure businesses, and wealth building strategist.  Each week I’m going to share my tips, resources and secrets, to help you create a plan and build the life you’ve dreamed of.

Hello everyone and welcome to the inaugural episode of the Indestructible Wealth podcast. I’m Jack Gibson, I’m your show host, I’m your wealth strategist, I’m your financial coach, I don’t know what the fuck else I am but I’m here to help you make some fuckin’ money, alright? So, let’s do this the right way let’s grow some wealth, let’s bless some people, let’s be good humans, and things are going to work out real well, we’re going to have a fun happy life.

So, I want to talk to you guys in this inaugural episode about what the wealthy do, what their philosophy is, and also want talk to you about the entrepreneurial dilemma.  I want to give you an overall strategy of how to go about the wealth building process and then on the next few episodes we’ll go into a deep dive into my seven step strategic process to really help you, not only earn more money, but keep more of it and grow it quicker.   I have this saying, I couldn’t put it on the front page of my website, my coach told me to, he said, it should say fuck retirement, it says forget retirement.  I just didn’t do that in case my mom goes to the front page of the website or somebody in my, you know family goes there.  So, I have this thought process that I want to enjoy my life now, I don’t want to wait 40 years until retirement and I think for a lot of you listening probably feel the same way.  And,  I really want to talk about our future episodes how the whole retirement policy in age 65 came to be.

But for today let’s dive in and build some wealth.  The first thing I want to talk to you guys about is the entrepreneurial dilemma, I know a lot of you listening probably are entrepreneurs, maybe you’re an employee and you have a side hustle.  I probably will attract a lot of people that are entrepreneurs to the show because that’s who I am and that’s what I’m all about.  But this show is about investing and personal finance so whether you are an entrepreneur, you’re a wage earner and you have a job that’s fine, that’s great, you know you’ll be able to take what you learn on the show, you’ll be able to apply it, and get some really incredible results. I do want to say though, the wealth building process if it’s done right, it is a slow process, it’s never an overnight thing and if anybody ever tells you the otherwise you know they’re selling you a house of cards, that just has no solid foundation. The entrepreneurial dilemma when I really understood this about myself  a light bulb went off.  Basically what this means is that, what make us really good in the entrepreneurial game which is taking risk, being aggressive, being assertive, getting after it, working hard, sun up to sun down, those skills and those philosophies and the way of working and being serve us really really well and help us make really good money in that particular field.  However, what we automatically seem to assume is that, that is automatically going to translate over into the wealth building game and it does not work that way.  Investing and keeping money and growing money requires a different mindset and different skills and a different way of thinking and being then what it takes to be an entrepreneur, so that’s why you see a lot of entrepreneurs that make a lot money in their business and then they lose it all, they spend it all on you know, stupid bullshit luxury liabilities, and they go boom and bust boom and bust boom and bust.  I want to teach you guys how to avoid the entrepreneurial dilemma and just understand how you’re wired and what you’re wired towards doing, so that you can avoid some of these costly mistakes that I’ve made over the last couple of decades and really get to where I am a lot faster.

One thing I really want you guys to be really crystal clear on, I’m not here on this platform that I’ve created to get anything from you.  I already have two private businesses that are very successful, 1 did eight figures in revenue and the other 7 figures.  I have  20, 25, 30 properties I don’t even know how many, as of this particular recording.  I’ve got equity in some private businesses and private money loans and mortgage loans.  I’m independently wealthy, I do not need anything from you other than I want to give to you.  I want to bless you and I want to help empower you.  I want, what I do want, I’ll be honest with you I do want something from you.  I want your story.   I want to be in your testimonial.   The greatest thing for me, my primary love language, is words of affirmation, words of praise.  I love it when people say great things about me, right?  It is what it is, that’s how I’m built.  So… I want this to work, I want what I’m teaching you and what you’re learning through my platform, I want you to come back and say “Jack, wow thank you so much for all that you poured into me.” That’s what I want! I want you to be a testimonial on my website and do a video and say this is what I learned, this is what I changed, this is what I got out of it and this is how it’s changed my life. That’s what I really want from you, I just want impact.

I was in survival mode for the first several years of my life, then I moved into success, and then now I’m moving into the stage called significance. I really want to be significant for you.  So, I’m going to back up and talk to you about what happened to me back in college.   I was really hard working in college.  I started a little side hustle business in the nutrition field. Worked like crazy. Sun up to sun down all the way through for the first three years of college.  I saved up and banked over $50,000 in cash, and at that time it was 1998-1999 so that’s probably $100,000 now in today’s dollars.  And so I put a big chunk of that into high risk tech stocks. Because the stock market and tech stocks were cranking, I mean they were going up 40 percent per year.  My money was sitting in the bank not making any money, it’s not really doing anything for me.   I want to put it to work, I want to start building wealth.  Well this story did not end well.  This is right before the dot com bubble burst in 2000.  You may remember what happened then.  My stocks were down 50% and then there’s this thing called being an adult right?  Like once you get out of college there’s this thing called bills.  So I bought a house, I was doing well in my business and my friends talked me into buying a BMW.   I’m living the life and then my business drops and then the stock market drops and I found out just how unstable my financial plan really was. That set me back a few years and honestly it scarred me for a long time on the stock market.

So I knew I had to do something different, if I wanted different results.  We as humans, we seem to be hardwired and attempt to make as much money possible with the least amount of effort possible that’s just how it is. You know when I look back, of course hindsight is always 20/20 but I’m really I’m talking to you young listeners trying to help guide you guys to avoid the mistakes that I made.   You know what I should have done with that cash? I should have banked it and then utilized it to invest back into myself and my own business.  By investing in myself I mean continued education like books, seminars, hiring business coaches to help me develop new ways of thinking and being. And then by investing in my own business I mean more marketing, advertising, create new training systems and structures, possibly opening up brick and mortar locations. The best investment will always be into yourself and your own company.

I had to switch my focus from making as much money as possible from speculative investments to building as much safe income as possible from my investments. I made my focus safety first. Okay? So if you think in terms of the overall strategy of what the wealthy think and do and what their philosophy is.   If we wish to become like them , we need to understand them. And the wealthy think and act with the motto “safety first”. They first focus on building multiple streams of safe passive income. They build their wealth on a base of conservative income producing assets. You know often including their own company or companies.  They then take a portion of their passive income and they speculate with it. So.. you know the problem that I’ve run into you know throughout my investment career was that my speculative nature, that aggressive risk taking side of me that serves me so well in business was still lurking in the shadows of my decisions. For example, I migrated from the market to learning and investing into real estate about six years ago. And instead of just getting solid base hits that produce average returns, I went predominantly for riskier, higher yielding C class properties that looked really good on paper. I went for fifteen, twenty percent cash flow returns and it was incredible.  Even bigger then that even, but actually these properties had a hard time actualizing the paper returns that looked so good.  Since then I moved my investments into quality single family homes that are quality tenants or homes that are still C class but at the very edges of gentrifying quality neighborhoods.   I moved into high cash value whole life insurance that pays consistent dividends, to mortgage back notes that pay steady interest and then I also do some projects with a group of other investors in the self-storage space. You know, people that rent out a self-storage locker for a hundred – hundred fifty bucks a month right? And then in addition I got into private money loans to people starting businesses that I have knowledge in, and so I get equity and interest payments in those businesses.  And then even out of the box income strategies like mining cryptocurrency.  Now, I don’t know the first thing about technology, I haven’t set all that up. I’ve got a partner who does all that.  I put up the capital.

So at the same time, my wife Kara and I, we’re very careful with consumer debt.   I picked up some wealth mentors who taught me to never use debt to acquire depreciating assets. Depreciating assets like expensive cars, boats,  toys right?  You get poorer with each payment instead of richer.  They told me to fund investments, not the toys like the jet skis and the vacation homes and the boats.  And along with shunning consumer debt, they were adamant never ever speculate with my principal capital.  Except a small percentage depending on my age and ability to recover.  So for example, I would suggest that if you’re younger maybe under 30 years old, you could speculate with about 20-30 percent of your principle.  In other words, do higher risk higher rewards type plays.  You know in cryptocurrency, small tech stocks or biotechnology type stocks. You know, futuristic speculative gambles that can really go parabolic if you hit the right ones.  And then the rest of it say eighty percent that would be in the safe, careful cashflow producing assets.  The more you age, the less time you have to recover if your speculation doesn’t work out.  So around 5-10 percent of your total principal initial investing money should be going towards this higher risk higher reward place.  They said I should only ever speculate with that small portion of my investment and this way, and even if all my speculation went to zero, my lifestyle and my wealth will be unaffected.   You never want to risk your current lifestyle for a better one.  Guys this is huge, I’m going to say one more time you never want to risk your current lifestyle for a better one, it’s not worth it.  Whenever I lose on my speculations, you know I could replenish in just a year when I receive more income from my private businesses, from my rents, from my dividends and my interest payments.

So if we apply this strategic thinking let’s give you an example of what’s going on in the marketplace right now, there’s this crypto currency that’s really starting to catch on.  I’m seeing a lot of people that I know on Facebook posting about Dogecoin.  Dogecoin was created as a joke about 2013, it has no intrinsic usage, in other words there is absolutely nothing, no block chain, no project underneath the currency like most cryptocurrencies have, that has value and that people are actually going to use. The second part about it is that it has an infinite supply so it’s a depreciating asset, in other words more coins are going to be added that will just create inflation that’s going to devalue your coin. So, based on these two reasons I decided to stay away from adding this to my portfolio, as I’m working on building a long term sustainable investment plan and not a short term speculative gambling plan.   So you guys have got to understand, how does this apply to the wealthy?   Well, I can tell you this, the wealthy would never touch it, and if they did touch it, there will be with a small percentage of their total portfolio, an amount that they can be very comfortable losing.  You know you think about this, this coin that was created as a joke it has a forty billion dollar market cap.  You know there’s really great companies out there that provide products and services that, high quality products and services that millions of people around the globe use.   That have 5 billion, 6 billion, 7 billion market caps.  So I don’t see any other way then this story ending badly, you know however I’ve been wrong before.  Look if you want to buy doge coin let her rip but this small allocation and realize you are gambling and not long term investing, which I like a little responsible gambling every now and then.  I like to play high stakes poker,  I mean is not really gambling for me cause I win more than I lose right but still have times where it blows up on me.  Oh man, I feel sorry for my wife when those nights happen cuz I’m a super competitive person right?   

Here’s what you guys have got to get super clear on.  It’s really important that you have an overall strategic process, that’s going to help guide you, and dictate to you, so that it helps you keep on track with your planning, keep your emotions in check.  You know it’s really tempting right now with cryptocurrencies going to the moon, it’s really tempting to put a lot more in.   I’ve doubled my money in 3 to 4 months, it’s tempting for me now to sell off some assets making 7, 8, 9, 10 percent and turning those into cash.   I’m telling you I’m tempted you know. I mean my portfolio’s gone parabolic.  But look, we’ve got to have proper asset allocation, we can’t put all our eggs in one Asset class.

Financial advisors, there’s great one’s out there and there some out there that aren’t so great, alright, just like any business, and so many of them promote stocks and bonds like these are the only 2 asset class that exist. I have 10 plus different asset classes that I’m invested into.  And none of my wealth as of today, none of it has been made in stocks and bonds, nothing, not one dollar that I can account for, has been made in those two areas.

So, this show for those of you that want to think differently, you want to be different you don’t want to follow the main stream advice.   Look, the way you make the money you guys and create wealth is going against mainstream advice.  Joining the 3 percent and walking away from the other ninety seven percent.   And right now the big mainstream are after doge coins.   I will be very very fearful when others are greedy and I’d be greedy when other people are fearful.  So buckle up stay tuned because on my show we’re going to dive into the 7 step strategic process, teaching why a strategy is so important over tactics.  I have incredible guests lined up, experts in real estate, in self-storage syndication, I’m going to bring on crypto currency experts, I’m going to bring on wealth management like wealth protection entity protection experts.  I’m going to bring our tax saving and tax strategy experts for you.  Guys this show is going to hit on every single possible component of how to put an effective wealth building strategy in place.   And I’m so excited that you chosen to be here with me on this journey.  I welcome all of your questions, I will answer every single question that comes into me I promise you, whether I respond to you directly or I answer your question on this show, you can absolutely guarantee if you have a question it is my word, it is my pledge, that I will figure out a way to carve time out to answer your questions, so please don’t hesitate to send questions in.   

I’d really appreciate if you considered telling other people about my show and sharing it as quickly as possible, it will really help me out with the algorithms to get this boosted up so more people can get this life changing content in their hands.  All of these concepts and strategic plans I’ve used to change my life and really create an incredible lifestyle for me and my family.   So, with that, thank you so much have a great day and that’s a wrap for this episode of the Indestructible wealth podcast.

Before we part ways, I want to help you to take advantage of 2 incredible tax saving strategies that could help you save a lot of money.  All you have to do is leave me a 5 star review – if I’ve earned it – and comment in iTunes, Stitcher, Spotify, or wherever you tune in. After you’ve done that simple step, just email me a screenshot to [email protected] and I’ll send you everything you need to save money on your taxes for years to come.  If you’d like to dive deeper into your own wealth building strategy, check us out at and follow along on social media. Also, please share this podcast with anyone who’s looking for guidance on their own wealth building journey. Until next time, remember our mission here is to help you make, keep, and grow wealth you can enjoy now, and for years to come.

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