What Is Investing?
Investing is not a random MLM purchase you made. Investing is not the new car you bought to save 4 miles per gallon. Investing is not buying that new house that you will pay for twice after paying off all the interest. Investing is not going to school for 12 years to earn a doctorate before you pursue your lifetime dream of volunteering for the Peace Corps. Investing is a plan. Investing is not a procedure. Investing is not a get-rich-quick-scheme. Investing is not a product. Investing is a plan.
Choosing your investment plan is simply the act of deciding which investment vehicle is best for you. Perhaps your investment vehicle is growing your business. That's great. It worked for Sam Walton. Perhaps your investment vehicle is buying intellectual property. That's fine. It worked for Michael Jackson when he bought the Beatles collection. Perhaps your vehicle is real estate. That's great. It worked well for Donald Trump.
Investing is simply choosing which vehicle you like best. Your investment vehicle should be able to take you from your current financial reality to a place where you can achieve all of your financial and life goals. If your goals were to travel 9 months out of the year while working less than 4 days per week, then investing in real estate might not be the thing for you. If you want to be on the beach in Jamaica, over-seeing the rennovation of your properties every few days will not be a sustainable solution for you.
As a general rule, I believe that you will need more than one financial vehicle to take you where you want to go. You might have to start and grow a few successful small businesses to be able to build up enough cash to get involved in real estate. That's fine. That is to be expected. However, when you are not perfectly decided on what your financial goals are then you become an easy target for every MLM, every get-rich-quick-scheme, and every new business opportunity that makes its way towards you.
Do not grow too attached to one particular financial product or service. What didn't work in the past might start working in the future and vice versa. All you want to do is get from where you are to where you want to be. You shouldn't care too much what vehicles will take you there.
Investing is not a random MLM purchase you made. Investing is not the new car you bought to save 4 miles per gallon. Investing is not buying that new house that you will pay for twice after paying off all the interest. Investing is not going to school for 12 years to earn a doctorate before you pursue your lifetime dream of volunteering for the Peace Corps. Investing is a plan. Investing is not a procedure. Investing is not a get-rich-quick-scheme. Investing is not a product. Investing is a plan.
Choosing your investment plan is simply the act of deciding which investment vehicle is best for you. Perhaps your investment vehicle is growing your business. That's great. It worked for Sam Walton. Perhaps your investment vehicle is buying intellectual property. That's fine. It worked for Michael Jackson when he bought the Beatles collection. Perhaps your vehicle is real estate. That's great. It worked well for Donald Trump.
Investing is simply choosing which vehicle you like best. Your investment vehicle should be able to take you from your current financial reality to a place where you can achieve all of your financial and life goals. If your goals were to travel 9 months out of the year while working less than 4 days per week, then investing in real estate might not be the thing for you. If you want to be on the beach in Jamaica, over-seeing the rennovation of your properties every few days will not be a sustainable solution for you.
As a general rule, I believe that you will need more than one financial vehicle to take you where you want to go. You might have to start and grow a few successful small businesses to be able to build up enough cash to get involved in real estate. That's fine. That is to be expected. However, when you are not perfectly decided on what your financial goals are then you become an easy target for every MLM, every get-rich-quick-scheme, and every new business opportunity that makes its way towards you.
Do not grow too attached to one particular financial product or service. What didn't work in the past might start working in the future and vice versa. All you want to do is get from where you are to where you want to be. You shouldn't care too much what vehicles will take you there.