The world we live in is insanely interested in getting rich!
Ever Binge watched “Shark Tank” OR “Billion Dollar Buyer” OR “Who Wants To Be A Millionaire“? Or any money related shows in general, and wished what would you do if you get that kind of money? Buy a house maybe? Go on a world tour? Or just pay off your debt?
Whatever it might be, We just can’t keep our mind of money! It’s the basis of our survival.
So, if there is so much obsession about being rich then why MOST of us fail to live the wealthy lifestyle?
Why just we can’t reverse engineer their way to becoming a millionaire just by watching the show?
What are we doing wrong? Or what are we NOT doing at all?
Simple! What is that ONE thing Successful Entrepreneurs often emphasis upon over and over? And, when you google ” How to get rich?”, what does sites like Wikihow’s #1 recommendation?
The Answer: INVESTING! Of both Time and Money. *Period! End of story!*
Sometimes even the idea of building wealth through investing seems impossible for those with little savings and little extra income to invest.
You probably might think that investing in smaller amounts of cash is pointless and way too risky, but the truth is that even if you start investing with only $100, your investments still have the potential to grow to six or even seven figure (If your willing to give it some time, of course!).
Some Investment terms you may come across-
- Stocks: A stock is a share in the ownership of a company – the more stock you acquire, the higher your ownership stake in the company becomes.
- Bond: A bond is basically an IOU or a loan that is made out to an entity (generally a company or governmental agency) by an investor. When you purchase a bond you’re essentially acting as a bank – you’re lending out your money for a fixed amount of time with the borrower promising to pay you back in full, with interest.
- Mutual Fund: A mutual fund is essentially the pooling of money from a group of investors to purchase a diversified group of stocks, bonds, and other securities. There are thousands of mutual funds that you can buy into, with your money being invested by a portfolio manager.
- Dividend: A dividend is one of the ways you make money from your stock – when a company makes a profit, sometimes they will pay out a portion of that to their shareholders (typically every 3 months.) Not all companies do this, though, and it’s never guaranteed.
Did you know, the earlier you start investing, the less it actually costs you? Tomorrow, tomorrow, tomorrow… There’s always a reason to put off what you don’t want to do today.
Start saving and investing as soon possible; don’t wait until you’ve paid off your debts to start investing. This will motivate you and get you excited about your financial future.
1: Start with small
I know how it feels to put your hard earned money in the hands of the stock market. It was the scariest feeling in the world. If you aren’t comfortable with investing in the stock market or don’t know where to start, you can always start small by investing cents to test the water.
A financial app called Acorns will allow you to invest as little as $0.01. Best of all, those cents are invested in Vanguard funds known as one of the best funds that normally requires investors $10,000 or more for the initial investment. Plus, you get $5 bonus if you sign up using my link.
It will round up your purchases and invest those leftover cents into the stock market. Plus, it will give you cash back offers (more like 20%) far higher than those from the biggest cashback sites out there.
Sign up and start with Acorns here and get your $5 sign-up bonus.
2: Be Aware Of The Investment Fees
Each investment you make brings its own risks and rewards, and to make smart money decisions, you need to be well informed. Never overlook the investment fees.
They are literally money sucker.
There’s a service called Blooom that will analyze your investments for FREE (Yes! Free). It can spot hidden fees, tell you if your portfolio is too aggressive or not, and find out how much you could be missing out on by DIY-ing your 401k. A lot of its clients cut their hidden investment fees by 46%.
Just five minutes with Blooom will help you see your 401k’s health at a glance and could save your retirement. If you like what you get from Blooom, you can avail its service for $10/mo, which include unlimited access to a financial advisor. How much is the typical advisor’s fee? The answer: A lot more than $10.
Click here to get your FREE analysis with Bloom and start seeing how you can skyrocket your portfolio.
3: Use Legit Investing Platforms
1: Motley Fool
The name might come across as a little bit misleading (after all, who wants to be the “fool” when they’re spending money?)But Motley Fool is actually a well-known multimedia financial-services company that has been providing financial advice for investors through a variety of stock, investing, and personal finance services over the years since 1993.
To get started with Motley Fool, sign up for Motley Fool Stock Advisor today
Let’s have look on some of the many advantages of using Motley Fool Stock Advisor:
- You get access to the latest stock picks and recommendations from some of the most experienced and informed minds on Wall Street.
- You get to join a thriving international community of like-minded investors who all share a passion of helping each other find financial success.
- You can get an amazing education thanks to the volumes of research and reports available at your fingertips whenever you want.
2: Swell Investing
Swell takes a unique approach to invest. According to their website, they are “an impact investing platform that helps you invest in high-growth companies solving global challenges.” To minimize taxes as best as possible, Swell automatically uses tax-intelligent lot ordering to reduce your taxable gains.
Despite the higher than average fees, I included Swell in our list of best investment apps because of the philosophy behind their investment strategy. How does Swell work?
Set up your account: Select either a traditional brokerage account or a retirement account (IRA). Pick your portfolios: Choose from six thematic portfolios and create your Swell investment mix.
- Green Technology
- Renewable Energy
- Zero Waste
- Clean Water
- Healthy Living
- Disease Eradication
3: Lending Club
By investing with Lending Club, your money goes towards issuing different types of loans to other people that help that’ll help them get out of debt, start businesses, get auto loans and finance or medical care.
To be clear, Your money isn’t going anywhere. Rather your money will be growing incredibly fast. Lending Club offers a competitive average return of 5.06 to 8.74%.
- Peer-to-peer lending, which matches borrowers with investors
- $25 minimum investment
- Average returns between 5.06% and 8.74%
- Personal loans up to $40,000; Business loans up to $300,000; Medical loans up to $50,000
- Best suited for good-credit borrowers and investors wanting to make money
Better start investing now and boost money for your retirement.
4: Invest in yourself
Investment is not just about throwing your money to different platforms and expecting them to grow. Sometimes it is about diversifying your ways. Try new things, invest your time to learn a new skill that will open new gateways of income streams.
The main idea behind having multiple income streams is that even if one of your streams is not earning you well (for example: one of your investment performed pretty horribly i.e losses), others can compensate the losses. And if all are thriving, *Ka-Ching* you make a lot more money.
With the modern development, there are numerous ways you can invest your time and money for a side hustle and consistently drive passive income from it.
1: Start A Blog –
Blogging is one of the most lucrative online business out there where with right strategies you can grow much quicker compared to other ways. This site for example, makes me more than enough money to get by each month.
But it’s not always about the money, sometimes it’s really about the lifestyle it provides you-
- No fixed hours of work.
- Flexibility to work whenever and wherever.
- No boss other than you, biggest pro!
- No limit in earning.
- Freedom to have a little family time.
Thinking that you are too late to start a Blogging Business and it is too competitive now?
- Suzi (creator of start a mom blog) launched her blog on 18 Jan 2017 and already made $200,000 by the end of September 2017.
- Logan and Caroline (creators of money done right).They started their blog in 2017 and are now making over $30,000 a month in August 2018.
You are NOT late to the party. Learn how to Start a blog within 20 minutes with this FREE Step-By-Step guide.
2: Flip Items – How does the idea of “Finding something that you can resell to make a profit” sounds to you? That’s exactly what made Rob and Melissa $42,000 in 2015 working only 5-10 hours a week.
In 2016 they made $133,000 flipping items. That’s friggin huge.
Some of the best-flipped items that they’ve done include:
- Door handle: They Bought for $8, sold for $200 (+$192 profit)
- Double stroller: They Bought for $90, sold for $380 (+$290 profit)
- Magnetic Machine: They Bought for $5, Sold for $700 (+$695 profit)
- Exercise Bike: They Bought for $100, Sold for $2,000 (+$1900 profit)
- Base jumping vest: They Bought for $10, Sold for $200 (+$190 profit)
- Carousel Horse: They Bought for $175, Sold for $1,299 (+$1124 profit)
- Patio set: They Bought for $50, Sold for $2,100 (+$2050 profit)
- Autoclave: They Bought for $100, Sold for $5,500! (+$5400 profit) WOW!
One of the students of the course said “I want to give a quick shout out to Robert for opening my mind to selling big, bulky items on eBay. I got both a scanner and receiver for $17 and sold shortly after they were listed for $399 and $129! In the past, I would have passed on these items because I would have no clue how to ship them. Thanks again, Rob!” –Anthony F., Flea Market Flipper Student.
You can learn how to make profit flipping items here, where they teach you how to flip items at an advanced level.
3: Become A Virtual Assistant
An average Virtual Assistant earns $35 to $50 per hour (some VAs earn almost $100 an hour).
That’s $400 a day (working 8 hours) and a TOTAL of $12,000 or above in a single month.
There has been a 95% increase in demand for VAs in the last three years. People these days are looking for virtual assistants who can manage social media, edit content, write blogs and other stuff constantly. Gina Horkey’s course will guide you to becoming an in-demand VA in 30 days.
Some people prefer more administrative or data-oriented tasks, which is exactly the what job of a virtual assistant is. If you are looking for a new job, or even just a side hustle, this may be something to look into.
Those who have taken the course-
With technology advancements, businesses are more comfortable than ever working Virtually.