Follow Famous Finfluencer Dan Cash on X
How did you get started with investing Dan?
Investing really started as a means just get ahead. TD bank had a Christmas Savings account which wasn’t advertised. Any time I got a tip at work, I would throw the extra $20 in this savings account. The bank never issued a debit card or a bank deposit. In November, the bank would send a check with the amount. This money every year is what I used to fund Christmas. This was the foundation for a forced scarcity mindset. This was the ground work for being able to put money aside, and living without. Once the habit forms, similar to the marshmallow test. Anyone is capable of investing. Stumbling upon Rich Dad Poor Dad opened up the possibility, but putting in small practices and getting used to see money in the account without the need to spend it was a game changer. It is like anything else that takes practice, a muscle if you will.
You have become a top financial influencer on social media. How did this come about and which platforms are you on?
Since I was about 6 years old, I had been fascinated with money. An obsession. However it was because I was trying to get home. Being in and out of foster care, crack houses and eating from trash cans doesn’t exactly paint a great picture of success. But success doesn’t come to the meek. It shows up to those who desire, and go after it, against all odds. America is home of the come back kid. Social media grew really fast seemingly over a year time frame during recent health crisis. I tried posting things that just made sense to me. However it wasn’t without its challenges.
Members of State Street messaging me saying that I shouldn’t post financial advice, asset managers telling me I can’t post content around finance. As well as it getting to the point where people were stalking me and my family. Which quickly resulted in my no longer allowing my family to be part of my social media life. Which in hindsight is nice to not share them with the rest of the world. Later on down the road I learned how important this was. The more financially affluent you are, the less and less you post about family, what you ate for dinner or sharing the intimate vacations you take with family. You end up becoming a target. I have hosted a couple fund managers on my podcast, but my love of the game was never to make money at it. Because let’s me honest, I don’t. I do this because I get messages every day from people struggling to find a way out of the proverbial rat race. I have been blessed with whatever gift this is where life is happening for me. And I am just hoping others can share along in that journey.
Tell us about your book, how they can improve a person’s financial knowledge.
The book Son of Bitches to Riches, in 24 hours was an Amazon best seller. Now I say best seller, not best written. There is a clear distinction because reading and writing I did not become fluent in until I was roughly 19 years old. It reads like I speak, direct and to the point. The next book will be released later on this year in 2025. In Son of Bitches to Riches, people can learn the basics such as the 4% rule, rule of 72 and how seemingly indifferent people you would never suspect in a public setting, might actually be very well off. The first half of the book profiles my life into early adulthood, and the second half profiles some of the most wealthy elites families in America. I have had the pleasure of knowing over the years. How they live, what they do and how they spend money. My new book, is a profoundly exceptional book that will deep dive past the basics and onto the more complex wealthy elites. The things only heard in the halls of places like Wharton business school. Things that might not be intentionally hidden but only shared within close groups. Stay on the look out for that book release.
Do you focus on income, growth, stability most now with your investments?
All of the above is crucial for my investing strategy. In my mind, it is important to think about legacy, retirement and the now. One bad remark, can ruin a persons reputation, which is of upmost importance to me. I would never want to steer someone in the wrong direction. Finance is so multi-layered, any one strategy can be right for one person and so incredibly wrong for someone else. The confines of your investment strategy is regulated to your ability to think in abstraction. My advice to everyone has always been, what is the goal, who is the person you need to become in order to reach that goal and work the equation backwards. Until the image in your mind is so clear, the only way to screw up is to deviate from the plan. This requires a great deal of strategy like chess, but imagine you are playing 4 separate games, independently stacked on top of one another at the same time. One wrong move and the entire coupling unraveled if protections aren’t in place.
What is your favorite ETF right now, or favorite 2 ETFs if needed?
Right now my favorite ETF is XDTE without a doubt, and secondly that would be VTI. Both track the S&P500 which over long periods of time and can grow exponentially. Returns over the past 100 years have been nothing short of exceptional. If you are looking for diversity without diluting your account, it’s very easy to do. Overall, I have real estate, mineral rights, oil, gas, military and capital growth. But most importantly everything is American. I only invest in my the companies of my fellow country men and women, and the betterment of the greatest nation to have ever existed. What do you do in your personal life that helps with your financial success? I exercise first and foremost. Before anything else 7 days a week, exercise. Family should come first, however I can’t be the best husband and father to my wife and children without taking care of myself to the upmost. Diet is crucial as well. My hobbies are advanced mathematics and anything engineering related. But when I am not working, and it is family time, it is 110% family time. Doesn’t matter what we are doing. I would rather give 100% of my attention, instead of 50% of my attention and 50% to work. Go All in on family time, if you are going to be there, be present.
What is your top piece of advice for retail investors?
Focus on the few not the many. I see too many people buying this, and that, and being half pregnant on 100 different funds, 12 side hustles and never really understanding what they are buying. I did this for far too long and it’s part of the journey. At some point you will realize, you won’t capture every movement in the market and way to many funds to focus on. Professionals can’t do it and neither can you. What’s great is you don’t need to either. The billionaires people most aspire to emulate all had one thing in common. That was focus. Musk PayPal, Gates Microsoft, Bezos Amazon etc. it wasn’t until the companies had grown so much, that they needed to diversify for protection against downside risk. Most people won’t fail because they all in on a great idea, it is because they went wide on 100 great ideas and couldn’t give each one the attention they deserved.