The Best Ways to Get Rich NOW.
First, forget everything you were taught about saving for retirement or building a nest egg or working your way to the top in your present job. The rules have changed dramatically, and you must adapt to them or you’re going to wind up broke.
If you have money in a savings account, you are not making enough interest on your money to offset the 3% annual loss due to inflation. That means the longer you have money in a savings account the less buying power that money has.
Up until the early 1980s banks paid anywhere for 7% -10% interest on your savings compounded quarterly. Now it is less than 1%.
How about investing in stocks? The stock market has long been a moderately stable income source but over the years, those clever Wall Street people have created a boatload of insidious fees hidden in the small print that syphons off much of your profits.
To learn more about this get of copy of Tony Robbins book Unshakable. Believe me, it will open your eyes and show you how to protect your pocket book. If you own stock it is simply a must buy. Here’s a link to Amazon
But the problem with stocks, is that they are still controlled by those who brought about the Great Recession. Which means as soon as the opportunity comes to make themselves even richer at your expense…
Well you know the drill.
Then there is cryptocurrency like Bitcoin. Cryptocurrency showed an incredible rise in value back in November and December of 2017. May jumped on that bandwagon and have gained substantial profits while those who got in too late subsequently found themselves taking losses.
But the thing to understand about cryptocurrency is that it is the result of the invention of the blockchain. Cryptocurrencies will come and go but the blockchain technology will change every aspect of business within the next 5-7 years.
This is not a prediction, it is inevitable.
For those of you looking for a solid stable investment cryptocurrency is not for you. It is extremely volatile. Bitcoin can go up $2000 dollars one day and drop $2000 a day later. It trades 24/7. You can go to bed one night and wake up having lost your entire investment or wake up and find yourself a millionaire.
Cryptos are too unstable now but keep your eye on them. Once they stabilize, it will become the global currency
So, what is the best ways to make money NOW?
If you want the most stable, then invest in gold. The value of gold can be traced back to ancient times. When the Great Recession hit, “We Buy Gold” stores popped up everywhere. And they’re still around, because gold ALWAYS has value.
For example, if you bought an ounce of gold twenty years ago it was selling for around 290.00 an ounce. Today it is selling at 1327.00 an ounce.
Most people don’t know where to buy gold. Some go to their local We buy gold store but their markup is prohibitive. Perhaps the easiest way is to buy from an established gold dealer. To see an example Click Here.
Another good way to make money in this economy is to invest in emerging startups. But like cryptocurrency it is strongly advised that you become familiar with what is generally referred to as equity crowdfunding.
Many of the new standout startups got their start as an equity crowdfunding business. The advantage here is that you can get in BEFORE their IPO (initial public offering) to get a feel for this type of investing check out these websites
Some of the startups require only $100 dollars to get in. If you find a company you like, read their offering to find out what you will get in return for your investment. Note, not all startups succeed, some don’t even make it to the starting gate so if you’re going to get in, know the risks. People who get rich, take the time to analyze, research and find out if it’s something that many people would happily buy. If so, they don’t hesitate.
One last thing. If you decide to buy gold or invest in equity crowdfunding, remember that any investment involves risk. Also remember that your cash is losing value each and every year. I’m happy to point you in the right direction, but its inevitably you, who controls your future.
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