Money, Money, Money!
April 22nd 2010 18:21
I recently decided I am sick and tired of not being filthy rich. I'm a student, I'm actually just plain broke. I also figured out the conventional way of "working" isn't going to bring me lots of wealth and luxury either so I was (or maybe am) frantically searching for a way to multiply my cash relatively fast.
Relatively, because unless you win the big one, Richess will never come overnight. Relatively as in: in twenty years or so, in stead of 60 (or even never...)
Saving
Saving is nice, but at least in my country, it's not gonna make you even remotely rich. A 1.50 to 2.50% intrest rate combined with over 1% inflation sort of only makes sure you don't lose money over the years. Besides that, it does next to nothing for you. But what does?
For Dummies
A few days ok, I spent the most useful €15 of my life (do I really need to convert to USD?) I bought a "for dummies" book on investing.
I swear, "for dummies" books are the most precious things you'll ever come across. No matter what it is you wish to know about, they give you the clearest, most solid start you can imagine.
After a couple days of reading, I now know the most important basics of real-estate investment, obligations and the stock market. Suddenly, I saw that with the right mindset and moves, investing isn't actually as big of a risk as I always pictured it would be. You can invest riskfree to fairly safe for a percentage from say 5 to 10%. Now that's a whole lot better than saving!!
Go get rich, read for dummies!
Relatively, because unless you win the big one, Richess will never come overnight. Relatively as in: in twenty years or so, in stead of 60 (or even never...)
Saving
Saving is nice, but at least in my country, it's not gonna make you even remotely rich. A 1.50 to 2.50% intrest rate combined with over 1% inflation sort of only makes sure you don't lose money over the years. Besides that, it does next to nothing for you. But what does?
For Dummies
A few days ok, I spent the most useful €15 of my life (do I really need to convert to USD?) I bought a "for dummies" book on investing.
I swear, "for dummies" books are the most precious things you'll ever come across. No matter what it is you wish to know about, they give you the clearest, most solid start you can imagine.
After a couple days of reading, I now know the most important basics of real-estate investment, obligations and the stock market. Suddenly, I saw that with the right mindset and moves, investing isn't actually as big of a risk as I always pictured it would be. You can invest riskfree to fairly safe for a percentage from say 5 to 10%. Now that's a whole lot better than saving!!
Go get rich, read for dummies!
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