A Quick Recap First
Now that we have learned about determining your Net Worth, creating your Cash Flow Statement, preparing your Safety Account, setting your Financial Goals, having a Spending Plan and knowing all about Risks and Insurance, it is now time to grow your money by investing!
Are you excited to learn how Bo Sanchez invests?
To those of you who are not familiar with him, Bo Sanchez is a preacher, business owner, investor, mentor and of course he’s a multi-millionaire!
But before that, let me tell you how I got started in investing.
It was around 2008 when I first read the book, Rich Dad Poor Dad.
Reading that book brought me to seminars, workshops, and books that led me to where I am today.
A lot has changed in my mindset since that fateful day when I first learned about financial freedom.
But, enough about me, let’s get to you!
I will now reveal the ways that Bo Sanchez invests.
3 Ways to Invest Like Bo Sanchez
To make it easier for us to remember, it all starts with the letter “E”. So, that’s 3 E’s:
Or starting and having your own Business.
If you are employed, it’s great to start and build something on the side.
You can start with what you are passionate about.
Then, start educating yourself about the technical side of the business.
Remember, passion alone can not give you a truly rich business, you also need ample know-how about the inner workings and the nitty-gritty of having your own enterprise.
We’ll discuss about starting your own business on a later post.
Or some may call it Paper Assets.
These are called paper assets because, well, it’s on paper!
You may invest in “equities” which means investing on the Stock Market.
You can also consider investing in Bonds as a paper asset.
So far, for me, investing in the Stock Market is my favorite.
I have gained as much as 50% in less than a year with one of the stocks that I owned.
Thanks to the Truly Rich Club, I know when to get in and buy plus when to get out and sell.
I highly suggest that you join me inside the club, it is really worth the investment (which is very little compared to the value you’ll get!).
What if getting in to the Stock Market is not comfortable for you? Perfect!
There is a way where you can leverage on knowledge, skills, experience and capital in investing!
Introducing, Mutual Funds!
Essentially in a mutual fund, investors pool their money (as low as PhP5,000) and then a competent and full-time fund manager decides where and when to invest. So you don’t have to think about what stock to pick, the fund manager does it for you!
Just leave your comment in the comment box below if you want to learn more about stocks or mutual funds. If you’re shy, email me by clicking here.
Or Real Estate.
Check the Net Worth statement of millionaires and billionaires in every country and you’ll find out that they would have real estate as one of their major assets that contribute to their net worth.
Of course, you grow your money in Real Estate by having rental properties that give you passive income.
Or you can be someone who buys or sells real estate as a business.
These are just the tip of the iceberg when it comes to growing your money.
Each of the three E’s deserve a separate post because of the huge discussion that it entails.
What I gave you here is like an outline or an overview.
What you can do next is to research about each of those.
Start educating yourself.
If you’re really serious about how to grow your money, start investing.
Saving in banks will not make you rich.
By the way, if you want a stock market mentor, click here.
Go ahead and take massive action NOW.
To our success in all areas of life,
Author | Adviser | Advocate
Image source: http://www.flickr.com/photos/wonderwebby/2723279741/
Your posts help me alot:)