“It is human nature to think wisely and act in an absurd fashion.” ~ Anatole France
The purpose of your investing money jar is to grow your wealth over a longer term (over a seven to twenty years’ timeline). This investing money jar is usually meant for retirement funds, children college expenses, or long-term dream (e.g. a yacht, a plane, a trip-around-the-world).
Since investing jar has a longer timeline, it is important to find investment vehicles that yield a nice rate of return on investment (ROI). When I say a nice ROI, I mean steady 8%-15% annualized return on your invested money. Unfortunately it is a very challenging task in a current extremely low interest rate environment.
Personally, I like investments that are valued cheap, are hated at the present time and started to rise. For example, real estate properties in 2011, precious metals in 2001-2004, stocks in spring 2009.
If you’re starting your investment strategy from scratch and can only invest a couple of thousand a year, you won’t become wealthy for a very long time. Don’t get me wrong–it’s a great start. But, obviously, the more you invest with even mediocre interest rates, the faster your wealth will grow.
Relatively small but steady increase of the investment amount in a form of consistent contributions will fill your investing money jar faster. Having MULTIPLE CHANNELS OF INCOME is one of the main secrets of acquiring wealth.
The ultimate goal is to be able to provide a comfortable living for yourself and your family from each individual stream of income. This is much more prudent way to achieve wealth than getting into risky investment whether it’s your stocks, options, expensive real estate or any others type of investment.
The idea here is to leverage your skills, experiences and hobbies to expand your earning potentials.
Read more on this topic next week.
To your Health, Wealth and Happiness,
Millen has a way of opening up conversations that not only make you feel safe to talk about money, but her questions have been so profound that they have made immediate shifts in my mindset and my circumstances have changed almost immediately too, including more money showing up, but more importantly, more and more opportunities. I have found new and inspired direction, and am feeling a lot more peaceful and excited about life in general. Millen offers so much value and a solid advice! She is a big picture thinker and it is infectious! Thank you, Millen, from the bottom of my heart and the top of my soul.
Millen Livis is a gift to humanity. Millen is very generous with her time and energy, sharing her vast life experiences and strengths, empowering me to become a better human being. Millen has impacted my life spiritually, emotionally, physically and financially, by her encouragement and clarity. I have not said, “Thank you!” enough.
Millen brings together an interesting mix of feminine wisdom, clear logic, assertiveness and humility in all of her interactions. With her warmth, intelligence, diverse experience and passion for ‘Dare to be the best you could be’ message, she inspires other women to reach for the goals they set for themselves.
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