Life revolves around money and if you don’t have it you’re in the shit. It is sad to say but money makes the world go around. Majority of people are stuck in the 9-5 rat race with no plans on saving or investing for their or their kid’s futures. We are bombarded every day on social media and news stations of people living a luxury life giving the false impression that, that is what life is about. Most people want to live an extravagant lifestyle with nice cars, nice houses and big holidays. Some people want the family and generally end up living like “the Jones’s”. So if you live in an affluent area you will then need to earn accordingly to your postcode as they say. If you are single this can easily be achieved nowadays if you play your cards right. If you are married with kids this can also be done albeit you need to work harder and smarter if you are the sole income provider. If your partner brings in an income that is a bonus, try living off one wage and investing the other salary. The power of compound interest will astound you and the results will be even more amazing in 5 years from now.
It seems like everything goes up every year, food prices, fuel prices, house prices, some add more family members which has a longer-term effect on our pockets yet for some reason if you are in a 9-5 job or even if you have a business your salary and or work doesn’t increase as rapidly as inflation does.
As men, woman, and or entrepreneurs we need to look for ways to add assets to our portfolio and preferably some residual ones or assets that we can use to earn a decent return on. Learning to trade the financial markets is not something one can learn effectively part time but it is something that you can learn over a period of time and then keep increasing your knowledge through different asset classes.
The way I see it, you can spend 40 years working your life and then once you retire, generally you are left with your savings to live on. But what if you took the time to learn to trade and started trading every now and then. What if you invested 2-5% of your income monthly. By the time you retried even if you only placed a few trades a year the power of the compound effect will significantly increase your retirement savings. Once you retire you will have a lot more time on your hands and now you have a skill that you can use daily to earn an income while you are home or traveling around on your retirement.
Now let’s say you learn to trade and decide to place a few trades a week and start to make your monthly income with your trading money. Would you stop work to be able to spend more time trading and being with the family? Would you invest in other ventures and keep working? All these things you can decide on once that bridge comes to pass but first, you need to learn to trade to make that extra money. Right…?
Trading is a skill that can be learnt and with all the new technology and websites out there in these exciting times, it will not take a person long to learn the basics very quickly. One thing to remember when you are a rookie trader is that it’s easy to forget the basic set of rules when it comes to day trading. If you stick the basics and follow a set of rules for forex trading you will be profitable in the long run.
With the rise of Crypto Currencies in recent years and the way technology is going it would be a wise idea to look into these avenues for additional income. Whether you just want to invest in a few cryptos, mine them or trade them it is a smart move. Many financial advisors are hinting that this type of monetary transactions can wipe out the banking system. However, I think the banking system will find it’s own way to control the system before anyone else does.
Other Investment Ideas:
– Physical Gold and Silver
You can buy these and store these in your house
– Peer to Peer lending platforms
Peer-to-peer lending is a new method of debt financing that allows people to borrow and lend money without a financial institution. Harnessing
technology and big data, P2P platforms connect borrowers to investors faster and cheaper than any bank.
– Robo Advisors
Robo-advisors (robo-advisers) are digital platforms that provide automated, algorithm-driven financial planning services with little to no human supervision.
– Crowdfunding platforms
Investing in start-ups or if you are a true entrepreneur you will get your idea funded here. These platforms are also available for things like property.
I will dive deeper into these other investment ideas once I have done some more research and give you my opinion on which websites to look at.
If you are not doing any of the above then I strongly suggest you stop being a lazy ass and do something, life isn’t going to get easier so you might as well make it better for yourself and your family in the future.