085 - MILLIONAIRE SECRETS | 6 Tips To Become Wealthy [PART 6 - Start Investing Today]
In this episode of the Mind Money Soul podcast, I’m going to be sharing why millionaires invest.
No one ever got rich JUST from saving. Yes, saving is an important part of your financial plan; it allows you to learn the art of delayed gratification, how to not spend all your money and it teaches your body and brain what it feels like to hold onto money. However, if you only save in cash, it’s a recipe for disaster. Your buying power decreases every year due to inflation which is killing all of your hard earned money. This is why millionaires do what they can to retain the buying power of their money by taking calculated risks, investing and growing their money. There are proven successful methods of investing your money for profit to beat inflation, retain the buying power of your money and increase your net worth including investing in property, the stock market, businesses, gold, art, collectables and bitcoin.
Your capital is always at risk, which is why it’s so important to do your education around investing. Those who learn and understand the language of money, understand their own risk profile and learn how to make their money work for them, are the ones who come out on top. Investing is a huge part of financial independence and the simple fact is, if you want to be wealthy, you’ve got to invest. You’re never going to rich just from saving. There’s a narrative that you have to be rich to invest but that’s not true. Start small, start today and begin working towards your financial freedom now.
In this episode:
How the perceived value of money is determined economically and emotionally
How money was created as an universal way to exchange value
Why you will never become wealthy just from saving your money
How millionaires retain the buying power of their money
The huge financial difference between saving or investing your money
How to learn how to invest in order to achieve financial independence
Things that impact becoming a successful investor
Resources
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