David Alade wrote and excellent masterpiece for those considering a career switch. Give it a read.
As you build wealth from the ground up, it is expected at some point you will consider a career switch.
Is it true that You Are Not Free Until You Have Financial Freedom.
In this article, my answer was simple, no, you have some freedom even if you donโt have financial freedom. And yes, financial freedom afford you some freedom also.
Read it. https://t.co/apSql5frWX
Investment checklist for those building wealth from [the] ground up
๐ฐ Stock
๐ฐ Cryptoassets
๐ฐ Bitcoin (yes we are calling this out)
๐ฐ Startups (if you can )
๐ฐ Others ( Real Estate, some business etc)
Income checklist for those building wealth from [the] ground up
๐ฅ Your salary
๐ฅ Income from freelancing
๐ฅ Income from monetizing your knowledge
๐ฅ Income from trading (if you are knowledgeable in it)
There are 3 types of people when it comes to BTC.
1) those who bought it
2) those who wish they bought it
3) those who are waiting for it to pop so they can tell the first 2 types โI told you soโ
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Being a long term investor is an advantage.
High quality companies are expensive but thatโs not a deterrent.
Buying expensive business is an advantage, good companies continues to execute and beat expectations.
Bargain might not really be a bargain.
You donโt need to buy individual stocks to build wealth in the stock market!
Buying into an S&P 500 fund alone will make you generational wealth.
Do that!
Donโt obsess over owning individual stocks.
Having proper time perspective is great advantage in the stock market.
Leverage your advantage.
Go and work, bring your gain from your work into the market and leave it to compound.
The stock market is not a get rich quick scheme.
Itโs a get rich over time platform.
Because again, 10% of your initial $1,000 is only $100.
But as you build over time, you build a capital base of $100k. Then your 10% will be $10k and that is significant.
Wealth grows very slowly in the beginning.
It takes minimum of a decade to see sizeable growth.
The key is not to give up in the first few years. Beginning is always the hardest.