Move 2: What Are My Best Investments?
There are many different types of investors out their ranging from young to old, rich to poor, and those who spend to those to save. No matter which type of investor you are, you need to be knowledgeable on the types of investments that are right for you. I guarantee there are books and countless of articles out there that pertain to you. For example. if you don’t know about Social Security and you’re 76, then that’s a problem.
I sought out to know what the real difference between the rich and the poor and my results were not what I expected. In order to be rich, you must invest and I think that’s where the discrepancy of wealth the classes is from. The reason that behind why rich people became rich is because they became good at what they do as an everyday job, they wisely invested their money, and they lived below their means to invest more money to get to where they are today. In fact, most rich people don’t live the extravagant life that we all expect them to live. Lots of rich people are frugal just so that they can invest more of their money.
If you are more likely to spend your money on unnecessary things, then you will have less money to invest with. Saving empowers you to gain earn money over time to potentially retire earlier than your colleagues, even though investing means giving up your money in the short term.