How Can I Diversify My Investment Portfolio?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 12 December 2024

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	Brought to you by the Ramsey Network app. Download today to go further with Ramsey.
0:08.4	Today's question comes from Andrew in Switzerland. I'm an American, but I live in Europe where
0:13.1	salaries are much lower. I'm a seasonal restaurant worker spending winters in Switzerland and
0:17.3	summers in Australia. I also get free rent and food, so I'm able to save
0:20.9	$30,000 to $35,000 a year. I invest heavily in crypto, and I know it's not a safe method for
0:26.0	long-term investing. What are some other investment options where I can diversify my investment
0:30.6	portfolio? I know I need to diversify, but I'm an aggressive investor who thinks without risk
0:35.9	there is no way to win.
0:39.0	This is a tortoise and hair situation here.
0:41.8	He's the hair. He's going, I got to have the risk of my life, Dave.
0:45.2	And you're asking us to diversify because you know you should have less risk.
0:49.6	You know that you could lose your butt if one thing happens in the crypto world.
0:53.9	Yeah. Statistically, happens in the crypto world. Yeah.
0:54.9	Statistically, Andrew, the fastest way to get rich quick is to get rich slow.
1:03.5	Because people doing the crap you're doing end up losing everything and they get to start over several times.
1:09.1	You know how I know that?
1:10.6	I did it.
1:11.9	I was doing flip this house before Chip and Joanna were born.
1:15.8	Okay?
1:16.3	And I lost my butt because I never met a risk I didn't like.
1:21.9	I believed in me and I knew I knew everything.
1:25.3	And I'm so smart I could outwork the real estate market and the banking market.
	...

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