Why Investing will be the BEST way to get rich is because you have your MONEY work for YOU!!! I hope you enjoy this video. Instagram:
1. Avoid purchases that will depreciate. Now, I’ll be the first one to admit that when I first started to learn how to invest in stocks, the Roth IRA, or even something so small as learning how to invest 5 , 10, 20% of my income, In the back of my mind I would struggle between wanting to invest $40 for my future or spending $40 on a new pair of shoes or even going out to lunch with my friends. But my mindset changed the moment I became a project manager in the summer of 2018 because my boss was an investor himself, he owns a subcontractor, he owns real estate, he owns a cabin in which he goes and hunts, and he owns 2 Ferraris. Even Warren Buffet who has a net worth of about 79.7 Billion started investing at the age of 11. So please start investing today.
2. Think long-term over short-term, not just financially, but in every aspect of your life. One of the greatest investors here in the United States is Warren Buffet and I remember coming home and watching an interview he had in which he said, “Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.” No one in my family invest their money in stocks or real estate. Matter of fact, my family is really good with saving money in case they lose their jobs due to the fact of being an immigrant. So I didn’t have anyone to tell me that investing long-term has more benefits then investing for the short-term. And when I got my first job at Amazon, I realized how hard and time consuming it is to earn an income. Not only that, but the temptations of spending my money on things I didn’t need just because I was in the moment. So having Warren Buffet give this advice changed my perspective and gave me tunnel vision on what my goals are. Do I want to be rich for just 5 years? Or do I want to maintain my wealth for 20, 30, 40 years and not have to work at Walmart when I’m 60 years old. Not only did I start investing for long-term stocks, but my whole lifestyle changed. The relationships I have, I started to go to the gym more often, started to eat more healthy, which lead me to have a happier life. Because when you change from going to short term to long term, we become more patient. Millionaire’s realize that we have so many more years to live, and that life isn’t a sprint but a journey. Once you understand that, you start to pour more into your bucket of investments, which will lead you to become rich.
The 3rd main cause of why investing will make you rich is because the more money you invest, the more your money multiplies. Before I decided to start to invest, I watched a video on Youtube from Phil Town’s channel in which he explained how compounding works. Let’s say that at the age of 28, you invest in a start-up company, just for illustration purposes, let’s say that you invested in Amazon when it first launched. You’re 28 years old, you need 32 more years until you turn 60. Phil explained that every 4 years your investment on that start-up company multiplies. So let’s say that you left your investment in Amazon for 32 years, so that means if your money doubles every 4 years, then it will double 8 times before you hit 60. So here’s the numbers, You started off with $20,000 and by the time you’re 60 years old, you will have 4.8 millions dollars invested in that company. And that itself, can be your retirement fund. That’s why avoiding purchases and thinking long-term helps millionaire’s take advantage of compound interest. Not to mention, when you invest in a company, stocks, index-funds, real estate, time is on your side. The more time you have your investments sitting in that bucket, the more your money multiplies. Millionaire’s don’t waste their time by keeping their money in savings accounts that isn’t on their side when it comes down to multiplying their money. One of my favorite Youtubers, Meet Kevin, made a video on how he keeps his emergency money in index funds. His main investments are in Real Estate, but he knows if something happens he can call Wealth Front and have his money in cash. If this millionaire keeps his emergency money in a index fund instead of a savings account, why aren’t we doing that?
The 4th main cause of why investing will make you rich is because the more money you make on investments means, the more educated you become on how to handle that money.
And remember,
Be someone that makes you happy.
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-Background: by Quiotye IG: adamfelipe22
DISCLAIMER: This video is meant to be for entertaining purposes, and to inspire any person who would like to pursue their passion. In this video I share my opinion and we are not responsible for any of your actions, please be safe and careful! Thank you for watching, and let me know what video you would like to see next! Sound effect:
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