How to Make Your Hard Earned Money Work for You
If you are like so many other people, looking from the outside at some of the most wealthy, you probably are wondering both how they became so wealthy and if there is even a remote chance that you could have that kind of wealth one day.
Not surprisingly, when you are dealing with extreme wealth comes extreme pride. That pride often renders itself in the form of some people thinking they know how to invest money, while in reality they are simply pretending in an effort to feel important and get your money.
There may be some surprise surrounding the idea of investing your money to work for you if you are already wealthy. What so many people daily to see is that for many in the upper class, it was investing when they were not wealthy that led them to their current day fortune.
I have a friend who is a successful MLM distributor. He runs a very successful Kyäni business. I bring this up because when I learned that my friend, already a very successful person, was spending the majority of his money in investments, I was shocked. Admittedly, it is what led me to researching investing and what makes it so effectively important.
My friend shared with me the exciting trip he just took to Omaha, Nebraska to listen to the Godfather of Investing himself, Warren Buffett, speak at the Berkshire Hathaway shareholders meeting. The meeting drew a crowd of over twenty thousand people from more than fifty countries in attendance. I had no idea investing was that big of a deal. Yes, I quickly become aware of my naivety regarding the financial world surrounding us.
The main takeaway, according to my friend who was in attendance, was that you can make a fortune easily if you learn how to make your money work around the clock for you.
My friend used to be in the position of working a regular full time job from 8-5 each weekday, having very little time to do what he wanted, only earning a decent living. When people fall into this routine, they fail to let their money work for them, especially while they are peacefully asleep.
My friend emphasized that his turning point, or conversion to investing as he calls it, came when he started realizing he would never get further in his financial life without making a change with how he administered his finances.
Once he realized he needed to do that, he quickly became overwhelmed with the vast array of investment opportunities readily available to him. Whether that be day trading, purchasing foreign currencies or flipping real estate, there are lots of options.
With all of that in mind, he quickly realized that he should not try to be good at everything, but should rather stick to what he knows best. While at the meeting in Nebraska he learned that if you are to succeed in investing, you should be great at one thing. Otherwise, attempting to be good at everything leaves you proficient at nothing.
If you are like my friend and new to investing, learning is critical. Remember this golden truth that Warren Buffett lives his life by – Earning more comes from learning more. Living a life of never ending education is of paramount importance.
As you become educated in one specific type of investing, you will soon be able to make a few investment wins. You do not need to invest in everything, or succeed with every investment. Just a few successes will put you into the black.
You will see as you start investing a few dollars here and there that you will soon have a few hundred dollars invested, already working for you!