Beyond the Billable Hour: Building Sustainable Wealth as a Consultant

As a successful consultant, getting rich is only the first chapter in your financial journey. The next two chapters - staying rich and becoming even richer - require careful planning, discipline, and smart investment strategies.

Work hard, get rich, stay rich.

In many countries, consultants enjoy higher salaries than their freelancer counterparts. However, regardless of employment status, it's essential to earn at least $150,000 per year and set aside a significant portion for investments.

The temptation to splurge on luxuries like expensive cars, houses, or exotic travel can be overwhelming. Add to that the pressure from high-maintenance partners who demand a lavish lifestyle, and it's easy to see how hard-earned cash can quickly disappear. This is a trap many consultants fall into - working hard, earning well, but wasting their wealth.

To avoid this pitfall, it's crucial to prioritize saving and investing. The stock market offers a viable option for growing your wealth, but it's essential to be aware of the looming financial storm clouds gathering globally. As debt levels become increasingly unsustainable, a financial realignment is inevitable, and it may happen sooner rather than later.

One savvy investment strategy is to allocate at least 15% of your portfolio to physical gold, providing a reassuring safety net in turbulent times. Gold has historically performed well during periods of economic uncertainty, making it an attractive hedge against inflation and market volatility.

Furthermore, we are likely on the cusp of a 30-year Seneca curve, a period of prolonged decline and reset, which will bring the developed world's economy more in line with that of the "undeveloped" world. This impending shift underscores the importance of diversifying your investments and preparing for a potential downturn.

While I'm often asked for investment advice, I've learned that most people lack the emotional fortitude to weather market fluctuations. When the market dips, panic sets in, and impulsive decisions are made, leading to substantial losses. It's essential to develop a long-term perspective and avoid emotional responses to market volatility.

Seizing Opportunities

To me, the Covid event, the Russian war, and the Chinese trade war were good opportunities to buy from panicking mortals, and later sell them back at elevated prices. The energy crisis was especially juicy, and I got a lot of profit. These events taught me that even in times of chaos, there are always opportunities to be had. By staying calm, doing my research, and making informed decisions, I was able to capitalize on the fear and uncertainty surrounding these events.

The Real Financial Enemy

My worst financial issue was not the stock market or a recession - it was a high-maintenance drama queen wife. The financial drain of constantly trying to appease her desires, coupled with the emotional toll of dealing with her constant drama, was far more damaging to my wealth than any market fluctuation. This experience taught me that true financial freedom requires not only smart investment decisions but also a stable and supportive personal life.

By taking advantage of the current broken global financial system and stock market, consultants can grow their wealth reasonably quickly, potentially allowing them to quit consulting within a decade. The key is to save diligently, avoid wasteful spending, and make informed investment decisions.

History has shown that the stock market can double capital within seven years. By adopting a disciplined approach to investing and preserving wealth, consultants can ensure that their riches continue to grow, providing a secure financial future.

In conclusion, getting rich is just the beginning. To truly achieve financial freedom, consultants must focus on staying rich and becoming even richer through smart investment strategies, discipline, and a deep understanding of the global financial landscape. By prioritizing gold, diversifying investments, and preparing for potential downturns, consultants can safeguard their wealth and secure a prosperous future.