Make money work for you

Have you ever wondered how the rich actually get rich?

Well I have over the last five years, and I one strong idea I have picked up from them is to ‘make your money work for you’.

The first thing you need to do though is to ‘get some money’.

To get money, sales you need to add value to someone so they will pay you back more value in the form of, viagra buy most probably, cash. You could add value by starting a business or working for someone. I recommend figuring out what you really enjoy, have a natural talent for and are passionate about. If you can hit these three criteria you will be a very happy person.

So once you have some money (capital) you can start looking to allocate it profitably, based on many factors like your knowledge, risk tolerance and ability.

You may decide to save it in a bank account in a savings account. You may decide to invest it in your own business, buy gold, buy stocks etc. But most importantly, you put it to work for you.

The main idea is to put that money to work somewhere as opposed to spending it on something that doesn’t work for you. The more it works, the more money you make. Then you can just repeat the cycle. It is known as compounding your wealth. I believe Einstein called it the 8th Wonder of the World.

So just think of it as buying something productive. Your money is going out to work for you while you do what you enjoy doing.

The problem today is that most people have debt rather than savings and this is a big problem if you want to become wealthy. You need to work to pay that debt off before saving. Your money can’t even begin working for you as you owe it to other people first. You consumed more than you produced. It’s in the same category as being a slave. You are working for others and not for yourself.

If you want to be rich, firstly, you need to pay off all your debts then save money. Then you need to decide where to put that money to work for you. Then, if you are like me, you will look into the best methods of allocating your capital to get the best return.

If you can follow this simple practice of thinking about using you savings productively, you will eventually become wealthy.

Alan

 

Leave a Reply

asdaef