
Assets that provide periodic cash payments provide the greatest utility to those who want to live a carefree life. Peace of mind is an underrated and undervalued emotional state. Most people choose lives of speculation, competition, and make believe, erroneously believing if they arrive at some destination known as “being rich,” they will have everything they ever wanted, and that will make them happy. It won’t. There is a peace of mind that comes with wealth, but this emanates not from the pile of money, but the cashflow that pile of money gives off. The size of the pile may get bigger or smaller depending on the market winds, but if the cashflow is stable, the size of the money pile is irrelevant: The real wealth is…[READ MORE]