You have a great job and make a good income. You’ve paid off your student loans and credit card debt. Now you’re ready to save and invest. But you’re not sure how to invest your money. I have good news: there are plenty of smart ways to invest your money, build wealth, and eventually reach financial independence.
They say money doesn’t make you happy, but I can’t fully agree. Who doesn’t want to reach financial freedom? I love money, and I believe it’s normal. We all work to earn. How else can you achieve financial freedom? However, money is not a goal; its an instrument to make your dreams come true, to live a fulfilled life, travel, be able to pay kids education and finally retire.
Money is simply a necessity like food or water, it helps you buy the things you need.
Investment diversification is an important investment strategy to improve the probability of gaining good returns while minimizing risk. Here’s a summary of why diversification is important and how to begin building your own diversified investment portfolio.
Your job may give you and your family a certain kind of security that goes with a good, stable material situation. And it’s easy to settle for that kind of stability. I fell into the same stability trap, as many others did.
Luckily, in my case, the thing that snapped me out of the stupor of perceived stability wasn’t some horrible life-changing tragedy. No, it was a simple broken leg. While some would say that a broken leg is tragic enough, for me it was merely a chance to sit and do nothing for two or three months – or so I thought.