If you are serious about creating substantial wealth over the course of your lifetime, one of the most important things that should be the first priority in your life is getting the rich infrastructure in place. The key is to have a cash-generating asset that is regularly generating money for you to shovel away into blue-chip stocks so that you can have a permanent source of your life that is giving you the money to be a capital allocator, so that you cannot help but get rich.
There are countless ways to put yourself in a position to get over $1,000 per month that is set aside for the sole purpose of giving you regular intervals of cash to invest. You can own a rental home that generates $1,000 in rent in excess of taxes, maintenance, debt, and other costs. Or, if being a landowner and dealing with the inevitable problems that bad tenants can cause is not your thing, then you can sit patiently on some capital and build a basket of REITs yielding 8-10% (because interest rates are so low right now, this is one of the worst times in the past 100 years that you could try implementing such a strategy. It’s generally an idea best left at the back of your mind for now).