HARD WALLET

One Simple Way on How You Can Be a Better Investor | by Tom Handy | Mar, 2022

Investing will cost you one way or another.

Investing photo by Anna Nekrashevich from Pexels

You have probably heard the saying, money doesn’t grow on trees. This is true. It doesn’t.

Money doesn’t automatically flow into your bank account, your wallet, or your purse. You have to work hard to get money.

It’s not the same as Kim Kardashian said, that women don’t want to work these days.

Kim Kardashian image created by writer

Of course, this drew a firestorm from people who criticized her since she and her family inherited a $100 million trust from their father Robert Kardashian in 2003.

You may not get an inheritance or any money from your family but this is one thing that you can do.

You need to invest in yourself.

This may mean reading a book on investing, attending a wealth seminar, a Dave Ramsey Financial Freedom course, or learning more about cryptocurrencies which is what I did recently. I signed up for a class from one of the top cryptocurrency experts, Anthony Pompliano, who has been featured on CNBC and other media outlets.

About four years ago, I started learning about cryptocurrencies when I had no idea what a Bitcoin was. About two years ago, I was recognized as a top writer on this topic and got offers to write for crypto start-ups.

So, there is nothing that prevents you from learning more about money. You need to find the topic or class and find the time to educate yourself.

When you learn about a new topic and want to find out more, you need the time and resources to accomplish this. There is work involved. You likely have to pay for the information. As mentioned, money does not grow on trees but sometimes you have to learn how to plant your own money tree.

Once you do, the money will follow.

This is a process that most schools didn’t teach you as you grew up. Money is one of the last topics that people were educated on. But I saw recently, my preteen daughter had a few days in school learning about money and budgets in school. So times are changing but students are continuing to learn about subjects they will never use again.

So this is where you need to spend the time and money to educate yourself. Self-education is more important than ever these days.

Some of these resources are free or they may cost money if you want to educate yourself. Then if it’s free, you have to spend the time learning. There is a price to pay for anything you want.

1. Watch investing videos on YouTube

2. Find an investing course on Teachable

3. Read an investing book

4. Join a local investing group, some may even be online

5. Go to the library or bookstore

6. Buy an investing magazine such as Kiplingers

7. Go to lunch or coffee with someone smarter than you and pick their brain

These are all actionable items you can take. It is much better than spending watching the latest episode on Netflix. This streaming channel takes money from you, but you want money coming to you.

Sometimes you have to put in a little work to have money come back to you. There is no easy process.

And if you think playing the lottery will work, you might want to try again. The average lottery winner is a small fraction of people as compared to someone who invests and sees a positive return.

  • To win the Powerball lottery, the odds are 1 in 292.2 million.
  • To win the Mega Millions, the odds are 1 in 302.6 million.

So you have a better chance of seeing a return if you invest as compared to playing the lottery.

Educating yourself on money is not easy, but it is well worth it. You should see a return on what you learn. You’ll make better decisions.

This could be from finding a better lender when you buy a house, buying your first or next stock, to investing in a cryptocurrency. All of these should help you see more money in the end.

A lot of planning goes into anything you do when it comes to money. So take time to do the research and compare options before spending your money.

Your return on investment will be well worth it.

Which of the seven actions do you like best?

Traciwininger
Author: Traciwininger

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