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Welcome back to another week with Renaissance. The newsletter equivalent of whatever personality ‘Michelle’ is talking about………I feel personally attacked! 👀

But yes. Yes it is.

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Today at a Glance:

Grant Cardone’s 10 Steps To Becoming A Millionaire In Your Lifetime

Crypto Macro Market Moves & What You Should Know

Dividend Strategies And Why They Matter

- And remember guys we don’t do this all for free…..well we do, but still. Honour our gentlemen’s agreement and refer a friend. 🤝 

- We’ll give you some free tailored advice to set you on your journey to financial independence. What are you waiting for!

You are: 1 referral away from a free personal financial consultation!

 Refer your friend using the link below ➡ Reply to this email, copying in your referred friend with the phrase “I want my free consultation” ➡ Your journey to financial independence starts

The Board

The Renaissance Over-Under

Business, Money Markets & Financial News

Grant Cardone’s 10 Steps To Becoming A Millionaire 🌶

I woke up early with some kind of 10x Grant Cardone lucid dream and here we are, we do the work so you don’t have to!

The man, the myth, the legend, GC! The real estate billionaire. The Louisiana Legend. The only thing more impressive than his portfolio is the amount of content he absolutely pumps out on making your life 10X.

Here’s his top 10 lessons to reach millionaire status! 👇

⚡ #1 Decide to be a multi-millionaire (Wow. I’m blown away)

- Set your sights on multi-millionaire status, not $1M. In life the vast majority of us come up just short of our goals. So set your money goals high, then even if you fail you’re doing better than you would have otherwise.

- Fail high instead of setting low targets

- What’s your number? Work it out and get a plan, why do you need it, what’s your rich life? Classic Ramit Sethi stuff.

⚡ #2 Stop all poverty behaviour

- Poverty or even close to it, ain’t pretty. We all know people of every wealth bracket that seem like they live in poverty. And the truth is that being wealthy is a mindset and these challenges and behaviours are either working for you or against you! 🧠

- Make a list of activities that people that are stuck in poverty or a similar wealth bracket do every day and DO NOT DO THEM:

- Drugs, alcohol, buying random items too frequently, not investing, not saving, wasting weekends, taking short cuts, dependence on others, not reading, refusing to network, not travelling or trying new things in life (risk).

⚡ #3 Study your favourite (multi)-millionaires & replicate them

- You have to find millionaires that have the same skillset/field as you, replicate them and use them as mentors.

- Blueprints and replication is key, there are formulas to this and many have done it before you!

- Do not pick single digit millionaires, because what’s the first thing they’re gonna do now? Go into conservation mode and stop growing. That isn’t applicable to you.

- Pick multi-millionaires that stay on top of their game and repeatedly strive and reinvent themselves. This is the way you can be sure they’ve got the pattern and discipline required for success - pick 2 entrepreneurs not 22, pick your people well! Who are your heroes?

⚡ #4 Work like a multi-millionaire

- The big boisss & girls work. They work hard. 90, 100, 110 hour weeks. They put it all on the line, there is no perfect work-life balance.

- As Grant says, trade your 9 to 5, for the 5 to 9!

- We all kid ourselves into thinking we’re working hard but really no one is gonna give it all to you, and if you want it in any way quickly - you better put the work in and compete!

⚡ #5 Swap your spending to investing

- ‘I’d rather sooner invest $1000 on something that can make me money, instead of wasting $100 by spending it for some momentary pleasure!’

- It’s simple and we all do it somewhere. Quit spending. Start investing. (And by god do we cover enough investment tips in this newsletter for you Renaissance readers!)

⚡ #6 Create multiple streams of income

- Oooooo now this is interesting, we just covered this in detail last week Renaissance readers and way less than 7 streams of income is needed! 👀 But it sure as hell is more than 1, and more than most of your 9-5s!

- Grant technically has thousands of flows of income in all variations of property assets! (not very diversified, but concentrated businesses he’s made his wealth from)

- First: make the main stream what you do all week, your job, or the position that you’re in.

- Then you can leverage your advantage here to set up something alongside it! Symbiotic flow - get some side revenue or creative side hustles around what you already spend 40hrs a week doing, this just makes compounding even easier!

- Lastly, extra source: investing, property, etc. Something more passive that can appreciate with time.

⚡ #7 Expand your network 

- Everyone knows the line: your network is your net worth!

- The big mistake is staying too close to the circle you were already in, your friends and family. They accept you and pat you on the back and tell you how great you are.

- But on some level this holds you back, you need to be a small fish in a big pond to grow. Being reminded that your level of work and success is still small compared to some others will bring you up a level!

- How? Invest in summits, mastermind groups, online forums, conferences - anything that gets you access to how great people think and operate. The best outcome is that you find lifelong partners to collaborate with.

⚡ #8 Never lose money

- Warren Buffett’s rules for money: 1 don't lose it, 2 don't lose it!

- Grant Cardone claims he never loses money by only going after the deals that are safe and that he understands!

- He doesn’t put money into investments or assets where there’s even the slightest chance of losing it all.

- He only invests in: himself, his business, property.

- Nowwww this goes against how we like to do things at Renaissance, we love a risk-reward ratio 👀 but some people want to play the longer safer game and that’s great too! Many ways to skin a cat to get wealthy, but for us we love investing with a calculated upside - after all, no ticky, no laundry……

⚡ #9 Make hard decisions fast

- When things get tough, the successful make the right decisions quickly. This will speak to all of us in different ways - but you know. You know what you’re avoiding.

- They often don’t make you look good, you’ll be judged for them, but at least it’s the right call.

- If you’re going through hell, don’t slow down for pictures - pick up the pace and do what you need to do!

⚡ #10 Never quit or settle 

- The super financially successful don’t simply stop just because they hit their targets. You reset, think bigger, and go again!

- There will always be setbacks - but when you have a long term view and plan, you know setbacks are not the end. Do not quit! The most successful are those who can last the longest being consistently good enough.

- Consistency x time = success

LITTLE BITS 😎

Apparently the S&P500 can 3X by 2034 as the next bull cycle is starting with this soft landing…even if this is true, enjoy waiting 10 years for a 3X (I got better runs in my shorts *where’s my dodgeball memes haha)

Here’s the Grant Cardone 10 step playbook from earlier if you’re dying to hear that accent again: https://www.youtube.com/watch?v=XcoPpryEw8I 

More Grant Cardone philosophy - never lose money. Never want to lose? Easy. Just wait longer. The longer you wait the likelihood of loss falls off a cliff. The long and safe game is the way if you’re a novice or you have your investing principles. Only you can decide.

Great commercial real estate short strategy playing out here 119% betting against shopping malls. 👏 👏 👏

World’s biggest fintech investor in hot water with SEC. Not all that glitters in fintech is gold - nice strategy, valuations, and cover-ups this year bro. 👀

NOSTALGIA OF THE DAY

Crypto Market & NFT News

Macro Market Moves & What You Should Know: It All Hinges On The Bitcoin ETF Approval 🤝

The best case scenario is full approval triggering a bull run 📈

Alright listen up ladies! Prices & Bitcoin will move sideways until the SEC makes their decision on the ETF.

- Approval: This would trigger a bull run and massive leverage entering the system. This trigger would most likely happen at around the same time as the Bitcoin halving event. Price targets would be beyond $100k. 🤤🤤🤤

- Denied: This would destroy the market, put Bitcoin at roughly $15k, and leave an entire 2024 with no market action.

⚡ But this would also allow for generational wealth purchases, when there’s blood in the streets - buy!

- Most likely case - Delay delay delay:

⚡ The SEC have a history of delaying any action and decisions in Crypto (just look at the history of regulatory performance with Coinbase).

⚡ They also have their own incentives to not promote money leaving the dollar/US assets into inflation hedging assets like Bitcoin until inflation is down to their 2% target!

⚡ Thennnn. They’ll say it’s open season for risky speculation and capitalise on the ETF inflows.

What does this mean for you?

⚡ Have dry powder depending on which outcome you agree with!

⚡ It really means Bitcoin dominance in the Crypto market is STRONG and prices will push higher with the attention before decisions are made. Expect 65% dominance in the market to be BTC by the halving event - it will be ever-present in everyone’s minds until then!

⚡ This means Altcoins are not good long term investments until after this period. That’s the harsh reality. They’re fine for short plays but until a halving event, and really 2024, they’ll swing and miss on accumulation.

⚡ Remember to study your macro moves before you invest 100 hours of research into a great Altcoin - it counts for fuck all if you don’t get what’s happening right now! Leave the short term Alt plays to us 😎 

Wealth Building, Personal Finance Hacks & FAT FIRE

- On this long rocky wealth building road, you’ll most likely have investments in equities and receive dividends on them. To make sure everyone’s up to speed, these are shares of company profits distributed among the shareholders (you).

- When receiving these dividends we have multiple options:

1. We can spend it. Bask in our profit and buy the premium pasta.

2. Save this cash and set it aside

3. Invest it. Take this profit and read weekly Renaissance alpha for other investment opportunities

4. Reinvest it, use the money to buy more shares of the same company.

The last 2 ways are always the best way forward. Especially when you’re young.

⚡ When you’re young time is your greatest asset. You have all this time to let your wealth snowball, accumulate and compound with break neck speed. The difference between taking your dividends off the table, or reinvesting them to further increase your wealth can be astronomical over the long term.

- Here’s the simplest example. Consider an S&P investment over 40 years with and without reinvesting dividends.

A single $1,000 investment in the S&P 500 in 1980 would have amounted to:

• $33,500 without reinvesting dividends

• But $93,000 with reinvesting dividends!

That’s a huge difference and way more than worth the effort.

- This is an example of reinvesting the dividends into the same company or index, but this can be extended to reinvesting back into your other investments, or even your business!

- The key is to reinvest, and keep the returns compounding. This principle is key for any fledgling business. While starting, a company should be reinvesting as much profit as possible back into the business to maximise growth.

- Taking too much off the table early is usually a bad sign, and not what we’re looking for here at Renaissance. Both in ourselves and in businesses we invest in.

Meme of the Day

That’s a wrap for this week! Meet us on Twitter to talk all about it. Where we’ll send you jokes, tips, and all important news from the world of money, business and crypto and more! (@RenaissanceDly)

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