Investing is a term that often comes across as scary to many individuals. Often we associate investing with putting money into the market and praying that when you take it out you’re left with more than you put in. However, that’s not investing… That’s gambling! There’s plenty of other ways to invest!
What words do you think of when you think of investing?
- Wall street?
I can almost guarantee that you think of one of the above words, and by the end of reading this short article I would hope you have a different understanding of investing, and a more diverse perspective on various ways to invest.
There are many ways to invest!
Investing doesn’t necessarily mean getting a suit on and trading stocks in a big room with symbols flashing all over the place with different monetary values. Investing can encompass a number of things!
Of course, the most common things people think of when the word investing is mentioned is trading stocks on the market.
Since many people are familiar with this type of investing I won’t go too deep into it, but I’ll likely write an article in the future on how to invest for anyone interested. For now, you could check out an article on how to retire rich (the “easy” way) through investing (if you read that article, soak in the information like a sponge, and use that strategy in addition to other investment strategies, there’s a very good chance you retire a millionaire – maybe a multimillionaire if you play your cards right)!
Another one of the great ways to invest is through real estate.
Many of the world’s most successful people have accumulated their wealth through real estate! But investing in real estate can be a bit complicated. In most cases, you’re often required to come up with a down payment on the real estate. Generally, this turns out to be 20% of the purchase price. Let’s say the property you want to purchase is being sold at $200,000. You’re likely going to have to put $40,000 down to purchase the house at a minimum, plus a bunch of other costs such as inspections, money to pay your real estate agent (often around 3% of the home price which would be $6,000 in this case), and much more! These things all make buying real estate difficult, not to mention the need to qualify for a mortgage if you’re like the majority of the population which is not likely to be carrying around an extra couple hundred thousand dollars to buy a house or office building!
However, despite it’s complicated processes, real estate investment can be very lucrative. There are also many ways to use real estate as an investment vehicle such as renting a residential property out to tenants who live there, renting office space to a business looking to have a physical location, allowing the property value to appreciate over time, and many more options.
A third example of excellent ways to invest is through investing in yourself!
This is one of my favorite ways to invest, since it’s often very inexpensive. There are plenty of ways to invest in yourself, but an easy and budget friendly way is through reading or listening to podcasts. By learning more about topics you’re interested in, you’ll likely be able to improve the skills that you already have, and learn new skills to become more knowledgeable on the subjects you love! I’ve read dozens of books on business and finance, and listened to hundreds of podcasts regarding the topics as well. Why so many? They cost little to no money! These methods of investing by far have the greatest ROI (Return on investment).
I’m talking more than your outrageous 15% gains on your market investment portfolio. Even more than your outrageous thousands of percentages you earned on cryptocurrencies.
Let’s say you listen to a free podcast that gives you the business idea that changes your life and makes you millions. Maybe you pay $10.00 a month for your Spotify or Apple Music account, a few hundred bucks for your phone, fifty bucks a month for your service, a hundred bucks for your headphones, etc. But those are things you already own! In theory, you didn’t have to spend any extra money make money by utilizing those possessions. Depending on how you look at it, you could consider it an infinite return on your investment.
Dollar Sign University is free, so subscribing to it could be the best investment you ever make!
A side note about the above: you do not have to spend money to make money. I don’t know who came up with that idea, but they’re completely wrong in my opinion. Use tools you already have, be resourceful, stop complaining, and do something!
Another way to invest in yourself is through going to college. A college education can be expensive, but it can be well worth it if you have an idea on what you want to do! I won’t explain this one too much since many of us are familiar with the concept, and many of us have our own opinions on college education. If you’re curious on some of the pros and cons of a college education take a look at the link here!
If you want to invest in yourself, another method is through taking courses or going to seminars.
I like to think of it as a less expensive college, often with no extra credentials. There are plenty of seminars offered for individuals wanting to learn more about a subject. You can pay a few hundred dollars to go hear an expert speak about a subject. But hearing others speak isn’t the only way to go this route, you can also purchase courses to become certified in various fields. For example, if you want to get your real estate license, you can purchase one of many courses online, to prepare you for a test. Courses and seminars can cost anywhere from nothing to thousands of dollars depending on what you’re trying to explore, but they’re one of many excellent ways to invest!
These are just a few ways to invest, and there are certainly many more methods that are available. Investing doesn’t always have to mean that you’re putting money into a stock and waiting for it to go up. There’s plenty of other ways to go about multiplying your money.