Learn Wise Investment

I cannot give you specific investment advice, only ways that I personally invest, along with some I have considered investing in. Learning to make wise investments is a major part of Personal growth. Unless you are a bit lucky, like the story below, it will take some time and effort to learn; there is plenty of help on the Internet and in investment books. The greatest investors in the world knew nothing when they began. Now they are willing to share the knowledge they have gained over the years with you for the low price of a book. My new book has a section on investing and growing wealth: “A New Self in 90 Days,” with enough information to get you started in the right direction.

This story appeared on the Internet: Grace Groner was fortunate enough to find a job working for a medical company that sold medical devices and stayed with them for 43 years. She had the foresight to realize that the company had the potential to grow, so she bought three stocks at $60 each for a total of $180, which was a lot of money back in 1966 but certainly a reasonable investment. Over the years, when the stock split, she avoided the temptation to sell them, and when she received dividends, she invested them in more stock. Decades later, her investments had grown to Seven million dollars

Another advantage Ms. Groner practiced was that she lived a simple life buying clothing in thrift stores, spending wisely, and saving her money rather than squandering it on useless items she did not need. Her investment strategy was simple but powerful. She was smart enough to recognize a good investment when she saw it and was not afraid to invest in it. She lived to the grand old age of 100 and quite sure she had a meaningful life of purpose.

Building wealth is not usually on a short-term basis; those investment options with long-term growth potential are the kind to help you build your wealth over the long haul. I cannot advise you on how to invest your hard-earned money, but I can share with you some alternatives worth investigating.

Dividend stocks

Remember, it is not necessarily how much you invest that is most important; it is how consistently you invest over a long period of time that mount up—Ms. Groner chose dividend stocks as the means to build her wealth. You can invest as little as $1.  I use Robinhood Investments to buy and sell stock options without paying commissions with no minimum investment. Setting up a Robinhood account is simple and only takes a few minutes. Just download your Robinhood apt, and begin investing at your will.

CDs At the bank of your choice

CDs are now paying the highest rate of interest in years, and the Federal Government safely insures your investment. I invested in one recently that pays 4.75%. However, you must keep in mind that while this is a safe investment, it is still several percentage points below inflation, so you are, in fact, losing money even though it is much better than a bank account, which pays little or no interest.

Fine art

Once thought to be an investment for millionaires, investing in fine art is becoming a means for anyone with just a little money to invest and reap some inflation-hedging benefits. You can search the Internet for investment companies that sell stock options in fine art. You may consider Masterworks, which makes it simple by splitting multimillion-dollar creations into affordable shares. This way, you can enjoy fine art’s lucrative long-term growth potential without investing a fortune. For as little as $20, you can begin your fine art portfolio.

Commercial real estate

It is important to diversify your investment portfolio so that if one stock fails, you have others to depend on to remain profitable. Most believe that Commercial Real Estate is reserved for the most elite investors, but that is no longer true. Fortunately, private equity firms such as First National Realty Partners (FNR) make Commercial Real Estate accessible to everyday investors online. They offer assistance in selecting the right investment for you. Commercial real estate has a history of producing a steady cash flow.

All that is necessary is to fill out the appropriate forms and start investing and growing your wealth. I have given you only a few of the many ways to investigate to see if they are right for you. I encourage you to begin today, if you haven’t already, to plan your blueprint for seeking your financial independence.

Final Thought: The first principle in becoming financially independent is paying yourself 10% or more of your gross salary. If that is more than you can afford, start lower and build as you get rid of debt. Remember, you will only reach financial freedom once you discipline yourself to pay yourself a portion of your weekly earnings.

Disclaimer

The article above provides information only to help users become financially literate. It is neither legal nor tax advice nor intended to be a forecast for any investment, recommendation, offer, or solicitation to buy or sell securities or instructions to adopt any investment strategy. Tax information and all investment decisions are appropriately made with guidance from a qualified professional. We represent no company, give no warranty of any kind, either express or implied, with respect to the data and information provided in this article.