Ok so you now know that you need to increase your value in the workplace by acquiring new skills. You need to be versatile and essential so you can earn more money.
You then need to live below your means to put a good chunk of your net earnings aside (at least 20-30%).
The third and final step, you need to invest your savings so your money can grow.
Increase your value, save as much as you can, invest whatever you were able to save.
Sounds simple? Not so much. You need to sit down and elaborate a plan in order to be able to do it. Part of that plan is where you’re going to invest your money…
There are many different classes of assets that gain in value over time. My favorite one is real estate. It is a little bit more work but I feel like I have more control over it.
Investing in the stock market is another way to make your money grow. As long as you invest in the right things. The safest way I find is through an index fund that matches the market. For example, an index fund that reproduces the return of the S&P 500.
Whatever you choose to invest in, don’t gamble. Become an expert in the types of investments you’re going to choose. Real investors take calculated risks. They don’t gamble.
If you’re interested in investing in real estate, I have created a course called CREDIT 101 where I teach you how to use credit to your advantage. If you use credit to your advantage, you can scale very quickly. I was able to go from 0 to over 1 million dollars of rental real estate in less than a year with very little cash down.
In this course, I teach you exactly how you can do it. I’ve also added a bonus section on real estate.
Those are amazing tools to get you started on your road to financial freedom.
Remember the formula, elaborate a plan, and you’ll be on your way to achieve your financial goals.
Determine first how you’re going to proceed to increase your value in the workplace. Identify how much of your net earnings you’re going to save (the more the better). Become an expert in the types of investments you’re going to invest in.