Never Make Investments Without Goals
Most people who build large estates do so through a system of investments. They master something—real estate, stocks, oil—and then deepen their expertise over time. For them, investing becomes a kind of game. The more they do it, the more it works; the more it works, the more secure they feel; and the more secure they feel, the more they do it.
But here’s the hard truth:
There’s no security in that concept alone.
Investments should be a solution—not a hobby. Every investment carries risk, which means your money could be lost. So if you’re not working toward a clearly defined goal… why take the risk at all?
Let’s assume you have a few meaningful goals in place. Say you want to retire at age 65 with a lifestyle equivalent to $4,000/month in today’s dollars. You also want to send your two children to college, which currently costs $16,000 per year, per child, for four years.
Those are valid targets: retirement and education.
As we’ve discussed in earlier columns, there’s a scientific structure that can help you reach those goals—much like the science of navigation. And here’s the simple formula:
You need to invest X dollars at Y% return for Z years.
That equation determines exactly how much you need to invest annually to stay on track.
Why Most People Still Get It Wrong
If you walked down the street and asked random people why they invest, most would say,
“To make a profit.”
That sounds logical—but it’s like buying a rudderless boat. It might float, but it won’t take you anywhere on purpose.
Too many investors take on risk simply because they’re told to “grow their money.” But if you’ve already reached your personal goals—or never defined them in the first place—what exactly are you growing toward?
What Happens When You Forget the Goal
Have you ever read about someone worth $100 million or more who ended up bankrupt?
It happens more often than you’d think.
And you may wonder:
“What didn’t they have that made it worth risking everything they already had?”
The answer is often: nothing.
They had nothing left they truly wanted or needed—but they kept climbing anyway, caught up in the game.
Climbing the Mountain vs. Building the Fort
When you start with nothing, your first job is to define your goals. Each of those goals has a price tag. From there, you climb—systematically investing to reach them.
But every mountain has a summit.
And when you reach it, you need to stop climbing.
Because if you keep going, you’ll climb down the other side—back to the bottom.
The wise move at the summit is to build a fort—a protective structure that locks in what you’ve earned. Building that fort requires a different mindset than climbing. It’s a shift from growth to preservation, from offense to defense.
Bottom line:
Every investment carries risk—even when you have millions.
So if there’s nothing else you genuinely need… why keep playing?
Never invest without a goal. It’s the only way to win—and stay won.
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