In today’s world of instant dinners, and get rich quick schemes. Everyone wants everything to happen now. If it doesn’t they quit! This kind of thinking will not work for you in the world of building wealth. Wealth building is a long term game. It all starts with your mind set! Get your mind right! Get your money right! Live the life most only dream of!
Youtube channels you should subscribe to
The second part is your work, side hustle and where you invest your money. Does the job you currently have take up alot of your time? If so, how can you use your current job to your advantage? What kind of side hustle can you do with it? If you work in some kind of construction job, and you love to cook. What can you make before or after work that you can sell while at work for extra money.
Other side hustles could be working for Uber, Lyft, selling products on Ebay, selling the junk you don’t use on Facebook marketplace, letgo, and offer up. That’s if your main job does not work you 12 to 14 hours a day. Also Affiliate marketing is good too. When it comes to hustle your are only limited to your imagination and what is ethical.
Where do I invest my money? Thats the billion dollar question! There are 4 investments that I see most wealthy people make. The one and only investment you should be making no matter where you are in life is in yourself, by reading books, blogs, watching YouTube videos, and going to conferences. This is time and money well spent!
The second investment you should start learning about is Real estate investing. This is where true wealth is builded! Real Estate can provide residual income, tax shelter, hard assets to leverage to acquirer more income producing property. The moll hill most beginners deal with is getting there first multifamily under their belt. But once you do this, you have officially got your foot in the door.
The third investment you should start learning about is building a business. Today, this is as simple as opening an ebay store or blogging about something you know alot about or are passionate about. Then plug in some affiliate links to bring in revenue. You could turn real estate investing into a business too.
Here are a few videos for inspiration.
The fourth one is stock market. If you are like most people you know just enough to be dangerous! The stock market is a funny deal. Because you can make money when it goes up, down, or sideways. Before you put any money in the stock market you should get some kind of education. Trade Smart University is a good online edu. I have invested in their education, very detail and helpful. If you choose not to invest in education and want to learn the hard way then at least play with fake money on one of these platforms optionsxpress or optionshouse. If you can successfully win 7 out of 10 trades constantly then you are doing good.
When it comes to investing I focus on the first 3 in this list. Stock market investing for me is on the back burn at this time. But if stocks are where you want to start. Go for it!
Wealth building is a process of learning and executing what you have learned. If you are apart of the working class, then you should focus on increasing your income. Then store all your extra money for an income producing investment.