Friday, 26 June 2015
Don't work for money, let money work for you!
A main key to build a succesfull and wealthy life is making the right investment choices.
You can go two different routes with it.
1) build a portfolio and manage it on your own: this means you'll have to have enough free time to research stocks, build a trading strategy on the currency markets and stay actively seeking for trade opportunities.
2) Search for good moneymanagers who generate those types of results for you while you keep your focus on other things.
Both options have upsides and downsides:
The downside of doing it all on yourself is you'll have to become a professional trader/investor, because it's not easy to have a day job and searching the markets for good buying and selling opportunities.
The upside is you'll make your own decissions, and you are able to build experience etc.
The downside of using moneymanagers is you'll need to let them share in your profits, and basicly you lend out your car without knowing if the person who drives it has a drivers license..
The upside is if you've done your homework/ followed their trackrecord and they anwserd all your questions transparantly, you can use all of their trading experiences to make profits.
It's no secret I've chosen the second option, basiclly because in this way I'm making money even when I'm asleep.
Enjoy your weekend and remember:
Let the money do the work!