[30Daysto30K] Day 30 - Put Your Money to Work for You!
I saved the best for last!
I think this topic is SO IMPORTANT... I could spend another 90 days discussing it and I'd still need more time! But unfortunately, it's not really my "niche" or area of expertise. So, all I can do is be your friend and encourage you to dive into this arena:
If you want to make more money... then you need to put your money to work!
This is the conversation of INVESTING and CREATING WEALTH.
I can't ever tell you WHAT to invest in, but I can give you some things to consider...
- Stop Spending Your Money on Stupid Shit - junk, knick-kacks, impulse buys, and Status Symbols are KILLING your Wealth Game and forcing oyu back into a feast or famine mode in your business. SPEND WISELY. BE FRUGILE. Stuff is cheap and overpriced anyway.
- Invest FIRST. The money you allocate for WEALTH is the FIRST amount you pull out... otherwise you won't do it at all.
- Pay Attention to the Economy - start paying attention. Do your research. Stay on top of current events... notice trends. And... avoid the mainstream media's advice, they lie often!
- Pick a "sector" you have joy and confidence in. Don't seek out "fast opportunities" but rather things you already take an interest in. For me... I started with Real Estate because I LOVE real estate. My family is all in real estate, so I knew a lot.
- This is about Slow and Steady - the numbers are staggering. If you put a little away CONSISTENCY overtime... the phenomenon of compound interest really can take it's affect. So understand you are playing a LONG GAME. So... make things SIMPLE... automatic. Consistent. Like the auto-monthly investments that you can set and forget. And don't look at it every day and freak out. Pull out. GO MACRO.
- Understand Inflation - "Saving" doesn't create Wealth. Your "savings" is actually LEAKING wealth. when you understand what is really happening with the dollar, it will motivate you to seek out DEFLATIONARY assetts... not just to "get rich," but to PRESERVE WEALTH. In fact, just PRESERVING what you have is a BIG WIN!
Ok, that's all I can really say, I just hope everyone reading this is PRIORITIZING this and being consistent about it EVERY MONTH... starting now! Even $100/mo is BETTER than nothing. START NOW. You'll thank you me later!
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