Very few people will ‘become rich’ …
… a lot of those that do make it to this stage do so by virtue of ‘accident’ (inheritence, lottery, sudden fame, etc.) … without graduating through Money 101 and 201, many lose their money here … all of it and quickly.
During this stage, there is still an up to 80% failure rate!
Even for those who have lived through Money 201 and 301, the rules change (again). There are only a couple of books (Get Rich, Stay Rich, Pass It On, The Millionaire Next Door, and Donald Trump’s books) and I didn’t find any of them to be terribly helpful.
This stage is all about moving more risky ACTIVE assets (businesses, trading portfolios, etc.) into PASSIVE portfolios (income producing real estate, selected value stocks, inflation-protected bonds, etc.) that generate enough passive income to support your dream retirement lifestyle.
Now that you are Rich (really), your main task is to have fun (you’ve earned it!) but to also be at least 98% certain that your money will not run out before you do …
Simple, isn’t it?