Now then, these are the investments I have hands on experience with.
Small business, Gold, Real estate, Stocks, Commodity’s, and Tax shelter investment accounts.
I will go into each one in detail as we progress,.
To start- This is what my investments have taught me.
My personal statement is, I am a self governing man. I listen closely to others and learn fundamentals from many sources but, the final decision will always be mine.
That being said, it is me that seeks the knowledge to make informed decision and I have found that everything you need is readily available and mostly free. Anything you desire to know, study or understand is at your hand and attainable.
Every investment you make will require final decisions to be made. I feel that you are the one who should be making those decisions. A decision based on your acquired fundamental knowledge and as time goes on, your hands on experiences.
The best investment is the one you make in yourself.
My advice is start simple, make it real, make it hands on, just like the paper ledgers you should be using to keep track of bills and accounts.
Create folders or binders of your study’s, keep record of your financial study and investment matters.
What has payed off the best for me Is, acting on intuitive intuition of correlations and possible opportunity I have seen because of broad study’s. And then using that as a direction for more focused study for a in depth understanding on that subject.
Your goal is to educate yourself to recognize opportunity.
Every investment that is worth while will take ongoing fundamental research, leading to informed decisions.
I can not move forward without emphasizing. You need to seek the information, you need to make your own informed decisions. And keep track of it all.
Hands on study and practice will lead you to- true understanding.
There are tax shelter type accounts that require nothing more than your funding them. They all provide long term benefits, tax savings and small but accumulative investment return. And the short answer is yes, pick one and start putting your savings into it.
To make it easy in the beginning a 401 or any IRA and then the best of them all a HSA investment account, that will be a sound beginning. We will discuss them in detail in the future. For now, a investment HSA. is hands down, the best of these relatively hands off long term investments.
Use them to create the habit of saving. Stop wasting, become a money hack, look for ways to not spend, save, save, save and learn, learn, learn.
Recognize the difference of assets verses liability’s.
Your understanding and use of this knowledge this will decide if you will have long term wealth or forever indebtedness,
Example- A privately owned 50,000 dollar truck, is a liability and all the costs, excessive- insurance, taxes and the fuel it burns is a liability, a waste, stop doing that.
Now Real estate is a asset, a investment, but you must with all investments make good informed decisions.
My investments in rental real estate, have payed off for me to date, the on going correct decisions are what make it continue to happen.
You need to know what you are doing, study, school yourself. Real estate is a market and the bottom can drop out and that may be the least of your loss. A bad renter can destroy you. A turn in the economy or real estate market can devalue your investment, leaving you with bills to pay. You need to understand these things.
I plan for survival, I stay hedged. So we are back to it and always will return to it. You are the key and must be able to trust in yourself to take action on a informed decision.
Coming soon- what is the difference between a speculation investment and a hedged investment.