Beyond the basics, each consultant has a different approach.  I do believe that each approach worked for them individually. I don’t know if any of these approaches will work in the future. (I don’t know they won’t.) It would not surprise me if the current situation requires adaptation or a new approach all together. I also think that each person needs to find an approach that works for them.

Differences
These are some of the major differences I have seen.

• Robert Kiyosaki – Don’t buy stocks at all, buy real estate. Debt can be used as a tool to generate revenue.
• Warren Buffet – Buy stocks as though you own the company and don’t sell them. Both Warren Buffet and Bill Gates have an optimistic outlook on the future.
• JL Collins – Only invest in indexes. Also has an optimistic outlook.
• Phil Town – Research individual stocks that meet a specific criteria. Seems to have a negative outlook on the economy due to continued stimulus that will result in inflation. It’s best to have no debt.

What I believe

• I have less than positive economic outlook due to continued stimulus, inflation, and environmental concerns.
• I also want to believe ingenuity will drive the economy forward and find solutions to environmental issues.
• I’m undecided on whether someone can beat the market by selecting individual stocks. I’m starting to think it would take a lot of time researching or insight to select individual stocks. There are consultants on both sides. I do like the simplicity of JL Collins.

Approach

• 45% Real Estate – Rental
• 45% Index – SPY, QQQ, or ARKQ (QQQ and ARKQ are technology related)
• 10% Individual stock only when I have some insight into that specific company/technology