Chris Camillo

you think your account's a hundred dollar account and it's a $30 account. You have to be willing to live with that risk account being 70% less. Okay. Realistically, that's probably the lowest it's ever going to go in the worst of all worst case scenarios. Now, But if you theoretically go lower, anything is possible in this world. We can disappear tomorrow, okay? So, like, anything is possible.

you think your account's a hundred dollar account and it's a $30 account. You have to be willing to live with that risk account being 70% less. Okay. Realistically, that's probably the lowest it's ever going to go in the worst of all worst case scenarios. Now, But if you theoretically go lower, anything is possible in this world. We can disappear tomorrow, okay? So, like, anything is possible.

But for the most part, your absolute, like, Great Depression style, worst of all, worst case scenarios, I like to think of it as down 70%. So bucketing money is one of the most important things for an investor to do. So I always talk about the fact that investors only really have two decisions to make.

But for the most part, your absolute, like, Great Depression style, worst of all, worst case scenarios, I like to think of it as down 70%. So bucketing money is one of the most important things for an investor to do. So I always talk about the fact that investors only really have two decisions to make.

how much of their money they want to have bucketed in risk assets and how much they want to have bucketed in safety, being treasury bills, right, or just a treasury-backed cash account that's paying you 3%, 4%, 5% a year, whatever. You make that decision, and that decision changes over the course of your life. So when you're young, you might have 5% or 10% or maybe even 0% in the safe bucket.

how much of their money they want to have bucketed in risk assets and how much they want to have bucketed in safety, being treasury bills, right, or just a treasury-backed cash account that's paying you 3%, 4%, 5% a year, whatever. You make that decision, and that decision changes over the course of your life. So when you're young, you might have 5% or 10% or maybe even 0% in the safe bucket.

Maybe you have 20%. And when you're old, you might have 80% or 90% in that bucket. Right? Right. Everyone tries to overcomplicate wealth management. Everyone thinks, oh, it's really sophisticated. You go to a wealth manager, they'll hand you an 80-page report that's your personal financial plan. You're like, dude, this is so sophisticated. It's all BS. The whole thing is BS.

Maybe you have 20%. And when you're old, you might have 80% or 90% in that bucket. Right? Right. Everyone tries to overcomplicate wealth management. Everyone thinks, oh, it's really sophisticated. You go to a wealth manager, they'll hand you an 80-page report that's your personal financial plan. You're like, dude, this is so sophisticated. It's all BS. The whole thing is BS.

Like it's just a printed out load of crap to make it seem like it's sophisticated and you need all that assistance and help. Like for me, I have money that's safe and I have money in risk assets. That's it. And honestly, for most people, if you don't want to play the game of trying to beat the market...

Like it's just a printed out load of crap to make it seem like it's sophisticated and you need all that assistance and help. Like for me, I have money that's safe and I have money in risk assets. That's it. And honestly, for most people, if you don't want to play the game of trying to beat the market...

The money in risk assets could just be in an S&P 500 ETF, exchange traded fund, that is basically free to buy and cost you like one-tenth of 1% internal management fee every year. It's the world's cheapest way to invest. And you just put money in there every week or every month and you don't think about it. And then you open it up in 40 years and you're super wealthy. Right?

The money in risk assets could just be in an S&P 500 ETF, exchange traded fund, that is basically free to buy and cost you like one-tenth of 1% internal management fee every year. It's the world's cheapest way to invest. And you just put money in there every week or every month and you don't think about it. And then you open it up in 40 years and you're super wealthy. Right?

Keep it simple. I always tell everyone, if you are just willing to start investing, there will be a moment in your life, more than likely, when you wake up one day and you realize that you're making more money from your investment portfolio than you are from your job. I'll never forget the day that happened to me. And I was like... What was that like? How old were you? So amazing. I was...

Keep it simple. I always tell everyone, if you are just willing to start investing, there will be a moment in your life, more than likely, when you wake up one day and you realize that you're making more money from your investment portfolio than you are from your job. I'll never forget the day that happened to me. And I was like... What was that like? How old were you? So amazing. I was...

It was probably 2000 and... 2008, 2009-ish, because it was right around the time I wrote my book, Laughing at Wall Street. And I had turned $20,000 into $2 million in three years in my brokerage account. And I was making a lot of money from my job at the time. I was making like over $200,000 a year, which back then was a lot of money. I was a sales guy, right? Yeah.

It was probably 2000 and... 2008, 2009-ish, because it was right around the time I wrote my book, Laughing at Wall Street. And I had turned $20,000 into $2 million in three years in my brokerage account. And I was making a lot of money from my job at the time. I was making like over $200,000 a year, which back then was a lot of money. I was a sales guy, right? Yeah.

And that for, it just wasn't enough money for the life I wanted to live with my family and the things that I wanted to achieve in my life for other people. I'm like a very, like I have a foundation, like I have like. massive dreams of doing some really big things in the philanthropic world.

And that for, it just wasn't enough money for the life I wanted to live with my family and the things that I wanted to achieve in my life for other people. I'm like a very, like I have a foundation, like I have like. massive dreams of doing some really big things in the philanthropic world.

And I was like, I can't live the life I want to live in the neighborhood I want to live it in, do this for my family, and achieve that for other people on $200,000 a year, even if I grow it to $300,000. I didn't really see a way to grow it to meaningfully higher than that.

And I was like, I can't live the life I want to live in the neighborhood I want to live it in, do this for my family, and achieve that for other people on $200,000 a year, even if I grow it to $300,000. I didn't really see a way to grow it to meaningfully higher than that.