‘The job is so demanding’: This hedge fund head honcho says he's slept 2,000 nights in his office so he could ‘concentrate nonstop on work.’ 3 ways to make your money do the hard work instead

“For me, productivity-wise, it’s really fantastic being able to spend nearly 80 straight hours each week with no interruptions, except sleep, thinking about work,” the 68-year-old said — explaining that he’d work a very intense four-day week at Renaissance’s East Setauket office before flying home to Washington D.C. to spend “three more normal days” with his family.

“Of course, I really miss my family. But the freedom to concentrate nonstop on work while surrounded by my colleagues is hugely valuable. And the job is so demanding, I really don’t see how I could do it otherwise.”

Brown’s exceptional work ethic — which has him sleeping only a few hours a night — is hard to replicate, even for his most dedicated staffers. On the podcast, the CEO recalled calling a subordinate with a question at 1 a.m. — then realizing “he doesn’t make enough money” to call him in the middle of the night and offering him an immediate raise to soften the blow.

While the hedge fund lifestyle comes with its obvious financial benefits — Brown had a net worth of around $100 million in 2019, according to the most recent Forbes data — not everyone is cut out for the workaholic lifestyle. Here’s three ways to make your money do the hard work (so you don’t have to).

Save and invest for passive income

One easy way to put your money to work — before taking on the risk of investing in the stock market or other alternative investments — is to stash some cash in a high-yield savings account (HYSA). With an HYSA, you could earn more interest on your money and benefit from greater compound growth than you would with a traditional savings or checking account.

If you do want to invest, most people start by looking at the four basic options: bonds, stocks, mutual funds and exchange-traded funds (ETFs). They all have the potential to earn higher returns than a high-yield savings account — but they also come with more risk.

Buying and selling individual stocks takes a lot of know-how to pick winners and losers — and even wise decisions can end poorly.

Those who are new to investing often get their feet wet with mutual funds or ETFs, which bundle together a diverse portfolio of investments. These are generally considered less risky than trading individual stocks.

You don’t have to commit a lot of money at first, either. You can start small and invest your spare change to generate passive income through dividends without having to lift a finger. There are also plenty of apps that can help you dip your toe into the investing waters.

Once you’ve gained a bit more experience, you might want to start exploring the world of alternative assets like gold, wine and fine art, which have all produced decent returns in recent years.

Maximize retirement accounts

Another efficient way to put your money to work is to take advantage of tax-friendly retirement accounts, like a 401(k) account, if your employer offers one.

A 401(k) retirement savings plan allows you to steer a portion of your pay into an account where you can invest and grow your money — and get a tax break.

If you don’t have access to a 401(k), you might consider opening a traditional individual retirement account (IRA), where you can contribute pre-tax income and grow it tax-free until you make withdrawals in retirement.