Increase your wealth by Investing

Increase your wealth by Investing

If you have your own business or you have a lot of money, you will want to increase your wealth. The best solution for that is investing. Although it sound easy (because you are ‘’giving’’ money to someone) it can be very difficult. You must choose carefully and you must be prepared for loss.

If you decided to invest, either, $10.000 or $100.000, you must have an emergency fund! This means that you must save enough money so you can pay your expenses for 3-6 months. Remember, if something bad happens, this money will be everything you have! It is important not to invest this money! Only when you have enough saved money, so you sustain if your investment goes bad, you can invest!

Having a loan or credit card debt, with an interest rate more than 10%, means there is no point of investing! Depending of your investment, your interest will be less than 10%, which means that you cannot make any profit. The only solution is to pay the bank interest so you can invest and make profit. If you are ready to invest, write down your plans. In this plan you must calculate, how much money you will earn, how long you can earn money and is there some danger for your investment. I recommend calling a financial planner. They are business coaches! With big experience in investments, they can give you the right advice at the right time. Remember that you will have to pay him 1%-3% a flat fee of your total sum in investment. There are some financial planners who work for clients that budget is $500.000 and more!

 

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