How do you invest your money?
Tuesday, October 27th, 2009 at
9:37 am
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Tagged with: Amount Of Money • bonds • Economics • Invest Money • Invest Your Money • Investing Money • Money Savings • Pay Check • Piggy Bank • Pockets • retirement • Savings Account • stock
Filed under: Money Saving Tips
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Your teacher’s thought is excellent in theory. There are only a few problems with her information.
1. When a crisis comes up, you will inevitably reach into your savings account to pay for the costs – whether it be legal problems or medical problems.
2. Banks pay such a small amount of money on savings accounts (like 1% these days) that your money will grow so slowly that it won’t even keep up with inflation.
3. Saving and Investing ARE NOT the same thing. Saving is accumulating money for a rainy day. Investing is managing risk in a system with the probability that you will profit. Investing is nearly like starting your own business, except without the work caught up.
You need to read a book (or listen on tape) to "Rich Dad Poor Dad" by Robert Kiyosaki. You also need to read "Rich Dad’s Guide To Investing" and "Cash Flow Quadrant" (by the same author.
If you read all of these books, you will learn everything you need to know about making your money grow – quicky. Instead of 1% , learn how to make your money grow at 20%,30%,50%, or even 100% per year. Learn what investments the rich invest in …
Econimics teachers a excellent at following trends, but I know of very few of them who are rich. If you want to learn about investing — question an investor. If you want to learn about football, don’t question a banker or a brick maker … question a football player.
WARNING: BE CAREFUL WHO YOU TAKE YOUR ADVICE FROM !!!