Do you know how to invest your money?
If you are in your 20s, I'm writing this article for you. By investing in your 20s, it will set you up to become rich later in life.
In the words of the financial mogul, Warren Buffett, “Someone is sitting in the shade today because someone planted a tree a long time ago.”
I am going to share with you three of the best investments that you can make. I believe that these investments will provide you with the greatest return on your money.
Are you ready to invest in your financial future? If so, keep reading!
Watch the video below:
Do you know how to invest your money?
Unfortunately, the education system doesn't teach young people about the importance of investing. As a result, most people in their 20s only live for the here and now. They don't prepare for their futures. In my opinion, this is a big mistake.
I made my first investment when I was 18 years old. This is what allowed me to become a multi-millionaire at the age of 30. In your 20s, you have the opportunity to build the foundation for your future life. Yes, it will require that you sacrifice a lot. However, you need to trust that your decision to invest will pay off down the road.
Before you can invest money, you need to save money. Unfortunately, a U.S. poll suggests that two-thirds of people would have trouble scrounging $1,000 in an emergency. Can you relate?
If so, I recommend that you put aside at least 3-6 months worth of money into a bank account. The amount of money that you put aside will be based on whatever your monthly expenses are. Think of this as your emergency money.
In order to save money, you need to make sure that you are spending less than you earn. This is the key to building long-term wealth. Here are three of the best investments that I believe you can make.
You are the ultimate resource of your life. If you want to make more money, you've got to be willing to invest in yourself. This is how you become the best person you can be. Commit to learning, growing and developing your skill set and abilities.
Keep in mind that what you choose to invest in depends on the kind of life that you want. Who do you want to be? Once you get crystal clear on that, figure out what actions you need to take in order to create your ultimate dream lifestyle.
2. Your Career or Business
You will spend one-third of your life working. This is why it is imperative that you invest in your work. If you want to start a business, you've got to invest in yourself because you are the face of your brand.
This will require that you learn business knowledge and skills. Let's say that you want to be an affiliate marketer and you've got $1,000 to invest. With that money, you could create an awesome blog or website.
Similarly, you could create a series of funnels in order to build an email list. Doing this alone can make you hundreds of thousands, if not millions of dollars.
3. Stocks, Real Estate or Other Investments
Investing in stocks and real estate is is how you get rich, long-term. If you want to get into the stock market, I suggest that you invest in index funds or an exchange-traded fund (ETF). This is a fund that consists of multiple companies.
An example of an index fund would be the S&P 500 which is a United States index of the biggest 500 companies within the economy. For example, if you invest $1,000 in an index fund of the S&P 500, you're diversified. This means that it will be hard to lose that money.
Hence, if the U.S. economy goes up, your stock goes up. Historically speaking, it has always gone up. I like to invest in companies like Vanguard or iShares. When it comes to real estate, there are more expenses involved. However, it is still a great investment. Consider investing in a REIT, which is a real estate investment trust.
Don't wait to invest your money. Take control of your finances today.
If you follow the above strategies for how to invest your money, I promise that you will fast track your financial success. Make a commitment to invest your money. Doing so will ensure that your money never controls you. There is no better way to take care of your present and future self.
If you want to go deeper with your personal growth and development, below are a list of some of the courses, both free and paid, that I offer that will help you get started!
- Affiliate Marketing Mastery Training
- Free Amazon FBA Training
- Free Online Business Course
- Life Mastery Accelerator
- Morning Ritual Mastery
What investment will you start making today?