November 24, 2022

The Perfect Investment Does Not Exist - Billy Keels

In today's solo show, Billy will share a controversial truth that can help guide your decisions on your path to financial freedom. He'll also share one action you can take today to accelerate your journey.
Billy Keels
CEO and Founder FGCP

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Going Long Podcast Episode 267: The Perfect Investment Does Not Exist

( To see the Video Version of today’s conversation just CLICK HERE. )

In today’s solo show you’ll learn the following from Billy himself:

  • [00:20 - 01:22] Show introduction with comments from Billy.
  • [01:22 - 09:00] Billy shares a controversial truth that will help you with the decisions you make on your path to financial freedom .
  • [09:00 - 09:47] Action that you can take today to accelerate your path to financial freedom.
  • [09:47- 10:27]  Billy wraps up the show.

To see the Video Version of today’s conversation just CLICK HERE.


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Episode Transcript

Billy Keels  00:00

Today's conversation is sponsored by first generation Capital Partners. If you're an accredited investor and you want to know about how we're helping other accredited investors keep more of their income, go to forward slash going long.


You're listening to the going long podcast with Billy keels, the number one podcast for long distance real assets investing.

Billy Keels  00:22

Welcome to the gold long podcast, we're back once again to continue to help to educate you so you feel much more comfortable as well as competent investing beyond your backyard. And yes, I'm your host, Billy keels, and I'm back to share another one of these solo episodes today is probably going to be a bit controversial. And so it's not something I normally do. But hey, listen, I'm gonna guess we have to be open and honest and share things that are on our mind. And that's what I'm going to do. But I also want to say thank you to so many of you that continue to share the podcast you are screenshotting and tagging us on LinkedIn and on Instagram, and really, really appreciate that because it helps to bring more new listeners and more new viewers to the going live family. So really appreciate that. And also, if you have not had a chance yet to leave your honest rate and review as well as ready, just take a couple seconds to do that. And by the way, if you are also wanting to find old episodes, you want to go back and read the transcript or you want to see the video, you want to re listen to the audio, go to first gen forward slash podcast and you can find every single episode ever. Once again, it's Christian, forward slash podcasts. So let's get in today's kind of solo here, kind of the thing that I want to talk to you about. And like I said, it's gonna be a bit controversial, probably going to shock some people. And you know, I guess that's what we do. We shock people sometimes it's not the intention. But this, these things kind of happen. Because this is part of just being open being sharing you what my experiences have been. But just give me a few minutes just to kind of explain what's going on. So. And the reason I'm sharing this is because this is something that I have learned through making many, many mistakes, right? And so I paid full price for them. And I don't want you to have to pay full price for them. So the thing that I want to share is that I started realising that this is going to shock a lot of people there, when you start thinking about investments, we're always looking for the perfect investment. But here's the thing, there is no such thing as a perfect investment. They don't exist. It took me a really long time to finally get that like until my 40s. And by the time that I retired from corporate life. But here's the reality, like, what were the mistakes that I was making, that if you start to recognise these mistakes, then hopefully you can avoid them. Because these kind of mistakes that I was making are the things that kept me in my corporate role longer than I probably needed to. Because I'm also a recovering perfectionist, I'm sure that that had something to do with it as well. But here, here's the thing, let me let me kind of take you through what happened to me. So first and foremost, because of the way that I grew up, I was never really exposed to investing as a concept. Anytime that we were able to or I saw that the you know, we were saving money. I thought that was investing because that's just the way that I grew up number one, but also to as I started then to take on more responsibility for myself I II, meaning that I was out working. And I had consistent income because I was using my time to work for someone else. And that was providing me with income, earned income. We've talked about that a lot. But the thing is, early on, I was really uninformed. I was so happy to be able to be investing that I when the person from HR came in and asked me hey, listen, do you want to invest? Or you're going to invest in the in the 401 K plan? How much do you want to what percentage of your income do you want to do? And I just went with the herd. So I invested first and foremost in the 401 K and the IRA and then guess what? After that I did some mutual funds, got a financial advisor, I was afraid to do individual stocks, it seemed really, really speculative at that time. But the idea was, I went all in and I thought like, Hey, this is the way and I wanted to share with everybody else, all this stuff that I was doing, like paper assets 401 K, IRA, and mutual funds specifically, then after that, I also got into some some stocks when the market crashed. Because back in 2008, the same thing happened again. And I lost 33% of my portfolio. And I was like I need to look for something else because I was having pain through what I thought was the best investing class. And so then guess what? I got into real estate investing and I thought, hey, listen, this is absolutely fantastic. I can have control over an asset, I can use a 25% of what I would need it to get into the asset to control 100% of the asset that was absolutely fantastic. And you know what this was going to also help me because this was providing also depreciation. So that was making the income that I was producing. They're much more efficient. It took me a while to understand that concept, by the way, and I know I've talked about that before. But I went all in on real estate and I thought real estate was the exact same thing like everybody needed to do real estate. I was super excited. I was trying to convince people that real estate is the thing I really need to do this. But I also realised Is that I was an accredited investor later on, because I didn't know about that either. And so then I went into the next phase. And I was like, Hey, listen, I like this stuff that might be the the real assets that produce cash flow that are tax efficient because of the depreciation that's happening. And then, you know, potentially, there's some appreciation, although I was less interested in that, because I tended to think that cash flow is the lifeblood and gets me through today. And so I started then investing passively with other people. And I realised that this was fantastic, because I could keep working my really high paid day job, and I was making the income was coming in. And that was allowing me the runway for me and my family to do the things that we wanted to do. But also, I started recognising soon, that even passive investing was not necessarily the best thing, because there were some issues that I was having with things called passive activity losses that I just saw this money that was building up, and I was getting frustrated. And you know what I realised like, Hey, listen, that's not necessarily the perfect investment either. So then I think most of you know, and then I started having, I was tired of having the, the taxman always have his hand in my pocket. So I started looking for a new solution. So I ended up investing in the energy space in the energy space, I really like it. Because as someone who was a high paid professional and accredited investor that was sick and tired of paying 40 plus percent in income tax, because the real estate wasn't helping me, the passive investing with other people wasn't an help wasn't helping me because I was investing, investing in things that created passive streams of income and passive losses. Right? And so then I started recognising, like, Hey, listen, this energy space is helping me to create consistent returns, it's creating the active income, and it's also helping me keep more of my money, because of the depreciation on this type of investment was helping me to keep more of my money, my earned income, so I will stop paying like 40 plus percent in tax, I get to keep that money, and I got to use it in other things. But then I also started hearing from people that are actually not there, they, I realised that, hey, listen, this is sounds really, really good. Because I'm a an accredited investor, and I'm keeping more of my money, and I was paying a lot in income tax, and so I got to keep that. But then also, I started recognising that there were other types of things like different precious metals that were also had the ability to access liquidity. There are other things that I am continuing to learn about, like the Infinite Banking concept, where you are purchasing assets that allow you access to liquidity. Why am I telling you all this? I'm telling you all this, because from the same way that I thought that the 401 K and the IRA were the way to go, and then the mutual funds, and then I thought real estate was absolutely the best thing. And then I thought that the oil and gas was the best thing in the energy space, and then looking at these other ways to invest, the thing that really, really makes a difference, it's not the different investing vehicles. And that's the thing, there is no perfect investment. The reality is, what I've learned is that it's how do I get crystal clear on the destination, the investing destination that I want to get to? And then how can I effectively leverage each one of these different vehicles, the ones that I'm comfortable with the one that I'm the most comfortable with to get me closer and closer and closer to my investing destination. And I was able to do this in a way that got me out of the corporate world in my 40s. Still, and so now I'm in a point where I'm able to really enjoy life, investing my time with the people that I love the most when I when I want to where I want to. And I don't want you to get caught up in the same trap that I was caught up in that I felt that there was a specific investment vehicle that was the perfect vehicle, the thing that I realised that I needed to spend more of my time on and now that's where I spend the majority of my time on is, what is the destination? What is the lifestyle design? What does that look like, and then understanding the different vehicles that are available, right, and then applying those vehicles so that my family and I can get closest to our investing destination, the exact same way that I that I mentioned to you, and we talk about all the time, it took me a while to understand it. And I don't want that same thing to happen to you. So like I said, one of the things that has also helped me and helped me especially in the last couple years, while I was in my corporate role, like I said, I was out of my corporate life in my 40s. So it was understanding the different types of income, you know, the passive streams of income, the active streams of income, and how to effectively use those and look at the different vehicles that are there that you can invest in. We've actually made a super, super simple guide. If you're interested in knowing more about that, especially if you're an accredited investor and you are someone who is sick and tired of investing in things that don't allow you to keep more of your money today. And you want to create consistent returns. This is a this is something that you really want to check out right just the best way to do that is go to first forward slash going long you can pick that up helps to educate you and learn more about what we're doing. Once again, it's first forward slash going long. I hope that today's I guess monologue has helped you to realise there is no perfect investment vehicle spend your time getting crystal clear on what the destination is. So while you're doing that and you're downloading the guide, I'll be here preparing for The very next solo episode so until then go out and make it a great day. And thank you very much. Trust that you enjoy today's conversation and once again today's conversation was sponsored by first generation Capital Partners. If you're an accredited investor want to find out more about how we're helping accredited investors to gain their personal freedom even faster. Go to forward slash going long.

Billy Keels
Founder & CEO of FGCP
Billy is on a mission to share a roadmap and opportunities with other extremely busy, high-paid professionals on how to find financial freedom through investments. Listen in to learn how!
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