It’s a fact. Wealthy people invest. They learn to put their money to work for them instead of the other way around. Simply put, investing is the act of placing money in financial vehicles with potential for growth much greater than a bank savings account or bonds.
You must first educate yourself in order to become a smart investor. Investing strategically is the key to lowering your risk & ensuring long term success.
One of the biggest benefits of investing is how it can help you beat inflation. Recently the inflation rate was at about 2%. You must grow your money faster than inflation if you care to preserve your hard earned savings. Most banks only pay about 1% which is why many people who rely on these low returns are in trouble. The smartest way to accomplish this is by leveraging proven investing strategies & models.
Our favorite investment vehicle is also one of the safest and most lucrative. Most wealthy people throughout history have invested in Real Estate and/or added to their portfolios in some capacity. One advantage of investing in Real Estate is that you do not need any license or degree to get started. Although this helps, you will still need education & the determination to do what it takes to apply that knowledge along the way.
Following these 5 principles will help you overcome the inevitable challenges that await you on your journey to successful Real Estate Investing
5 important principles of REI:
- Done is better than perfect and there’s no such thing as a perfect deal
- Stick to your numbers let the data rule
- It’s ok if you don’t know everything and you should accept it. Start asking questions & finding the answers you need
- Educate yourself to make smart investments. Find mentors and credible investing knowledge to continue improving yourself and your results
- Passive investing = early retirement
*Golden Nugget* If you currently have a traditional 401(k) or IRA you are at high risk and will greatly benefit by considering a rollover to SD401(k) or SDIRA.
No Comments