A business makes your rich, investing makes you wealthy. Maybe someone else said that or maybe that’s an original quote I don’t know. I do know it’s true. True wealth, something which I aspire to, is having several investment streams that do not require your presence for them to increase in value.
That is why a business is only the start of wealth creation.
Learn to invest money wisely and what you will have is wealth at the end of the rainbow. It all starts with earning enough to give up your day job. People who have read my articles know I advocate several streams of income. You will also know how to do it on a budget. Poverty shouldn’t be an excuse; it should be a motivation to make money.
What about investing?
Let’s differentiate between stocks, shares, mutual funds. These investments are for when you’ve made your money. Until then you should see everything as an investment in your future, and the future is now.
Learn to invest money if it saves time. I used to spend the whole day delivering leaflets for a measly few dollars an hour. I worked out that my time was worth more than that, even though when I started blogging I made less money. I was blogging for only one hour to earn $40 whereas I earned $60 a day for six hours work delivering leaflets. Common sense dictated all I had to do was create six blogs to replace my full time wage.
When to invest?
Now.
Put 10% of your earnings aside for investment purposes, 10% for savings and give 10% to charity. This is essential. You won’t get anywhere in life with a scarcity mentality, clinging to every last dime. It just accentuates that you’re broke. Giving it away signifies abundance. As you earn more money this habit will be ingrained into you and you will not need to be taught to learn how to invest money because you will be doing it.