The reason you aren`t rich
Why aren`t you rich?
Do you ever wonder why some people are billionaires, but you barley manage to save a penny every month? The answer are many, but they are simple.
The short and simple answer is: you are using all your money. You are either using it on that new jacket you wanted for winter, spending it all at the club during the weekends, or maybe gambling it all away. The easiest and most important way to get rich is too simply not use money! No, I am not saying you should starve, stop going out, and wear the same clothes for five years. What I mean is that you can’t use all your money until it reaches zero. Think about it, did you really needed the last sweater you bought? Or did you just want it?
When you I manage to spare some money, what should I do with it? I’ll tell you the short answer again: Use it to make more money! This is the fundament of how all millionaires got rich! You got go give some to get some, Nothing comes for free, and wealth does neither. Investing is the key to wealth, and first of all you need some money too invest. Take this example, lets say you manage to save $500 each month for 6 years. Then you put those $6 000 each year into a funds or stocks, for example. Lets say you get a small growth of 12% each year for those 6 years. After 6 years you will end up with $54 500! Now it is possible to make much more than 12% each year, but it all comes with a risk. If you want to get rich In a safe way I recommend index funds. The famous investor Warren Buffet also says the best way for young people to save money, is too put them in index funds.
So after all, the answer is: save money and don’t waste is on things you don’t need. Then, put the money in some investment. Remember that there always will be a risk. Keep your budget and watch the money grow.
If you want more answers, learn about all the ways to get rich, and how the methods work, check out this website to start getting wealthy today!
company. When you buy a stock, you buy a part of the company. Why would you buy a stock, and which stocks should you buy? Here I will give you some answers
Stocks can make you huge amounts of money with little work. A stock grows in value if the company goes well. There are many factors that pay inn on the price of a stock, for example income, liquidity, news, deals, and payout. When you buy a stock, you bet on the company to go well. For example, let’s say you bought ten Alphabet Inc (Google) shares five years ago. The price back then per share was about 300$ a share. During those years, Google have had amazing progress on its brand and made huge steps in information technology. Today the stock price for google is 900$. So, if you bought the ten stocks five years ago, you would have earned 6000$, or 200% earnings!
Buy stocks you believe inn. Buying a stock contains a lot of risk. None can predict the future, so when you buy a stock you don’t know for sure if it will go up or down. But as long as the global economy is still going up, the chance of you earning is greater than you losing money. When picking a stock, here is some tips you should consider before buying:
- Buy a stock you believe inn and know. For example, if you just bought a Telsa and loved it, chance are that more people will too.
- Don’t buy over-hyped stocks. Some stocks get very hyped and gets sudden, huge growth. If you have missed the first leap, don’t buy! Most bubbles like this will break and can cause you to lose a lot of money.
- Go with something safe and well established. Big companies like Coca-Cola and apple are way safer too buy than small start-up companies. When you are new to the market you should consider well established companies, which shows signs of continuing to grow
- Don’t go all inn. Don’t put all of your money in stocks if you don’t know what you are doing. Learning the stock market takes a lot of time, take it step by step.
- Listen to experts an recomendations from people who know the market.
Consider funds. Funds is a safe way too start in the stock market. A fund is a portfolio that contains a lot of stocks. This means that it’s a much lower risk, since the chance of all the companies to fall is much lower. The fund is also managed buy someone who have a lot of experience and now’s the market, so you don’t need to use as much time to learn it yourself. Warren buffet, the greatest investor of all time, recommends index funds too start with.
So this is the basics for someone who are completely new to the stock market. If you already knew this, and want more details check out my advanced stock article below.
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