Investing is the way to change one’s lifestyle, as nowadays the world has changed a lot, with the minority possessing the majority of the world’s wealth.
This minority are the ”lucky” few who have either had the opportunity to make fortunes or were born rich.
What should the rest of the society do though to overcome the daily financial and mental barriers?
Investing: Plan and take the chance
Surely, being stagnant is not the way, but planning or taking some chances for better days to come is the way to progress.
There are different ways one can increase his or her income and wealth either going along the long path such as long-term investments, or the short path such as speculating the markets.
Both paths can increase one’s wealth as long as there is patience, discipline, risk and money management, strategy and positive thinking.
In the scenario that you are a long-term thinker, you should focus on investing in real estate, land, premises, and other similar investments.
On the other hand, if you are a short-term thinker, and cannot wait for longer periods, you could think of investing in the markets such as speculating currencies, commodities, shares, and indices.
It is important to understand your risk and reward ratio and perform cost vs. benefits analysis of the strengths, weaknesses, opportunities and threats of your potential investment.
What is the cost of your investment, how much are you willing to invest further, and what is the level of risk you can undertake in the scenario of an adverse condition?
Does your investment have future potentials, and is it worth taking the chance?
Furthermore, it is statistically proven that there are very smart people out there who either did not have the financial ability to convert their idea into a business, and those who have had great ideas but were afraid to take the chance.