(1) Have an app for tracking your personal finance. I have a Google Spreadsheet where every month I would sit down and calculate how much money I made from every single source of income that I have, how much money I spent. I would also analyze this information and plan my next month accordingly.
If you want to retire in style and not rely on the government, you definitely need to start thinking about your future and spend time on learning more about the compound interest which is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on interest. Warren Buffet once said that he maid all of his money thanks to being born in America, some lucky genes and compound interest.
(2) The safest ‘investment’ strategy is to keep your money on a savings account. I used to think that the interest rates are not that high but if you hold your money in cash at home or on your checking account, you just lose money and lose its value to inflation.
(3) Now, let’s talk about the actual investing. I personally invest in index funds with Vanguard. My strategy is to invest a small amount of money every single month and wait because I don’t want to track the market all the time.
(4) I’ve also invested in stocks but I haven’t invested a lot because you need to track the market and predict different things that can happen to a company.
(5) I cannot buy real estate right now because I don’t have a lot of cash right now but if I did, I would totally look into the real estate market in the next few months.
💰 INVESTMENT APPS & BOOKS:
– Savings Calculator – https://www.saving.org/regular-saving…
– Get $50 when you join Personal Capital – https://share.personalcapital.com/x/K…
– Get two FREE stocks on Webull – https://act.webull.com/i/ov8wp37ijU84…
– Claim your FREE stock on Robinhood – https://join.robinhood.com/marinam241
– Listen to Tony Robbins’s audiobook “MONEY Master the Game: 7 Simple Steps to Financial Freedom” – https://geni.us/QSXr
1:17 Why you need to track your personal finance
2:32 Making $11,000 from $1,000
3:43 The safest way to ‘invest’ money
5:27 My investment strategy
7:00 Things to consider before buying stocks
9:21 Where you should invest in the next months
I post daily stories about my life and business routine on my Instagram – https://www.instagram.com/linguamarina/
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⭐ DOWNLOAD MY ENGLISH WORKBOOK – https://www.english.online/
📷 FILMING EQUIPMENT
– Gear for making my ‘talking head’ videos – https://kit.co/linguamarina/gear-for-youtube
– Gear for vlogging – https://kit.co/linguamarina/current-vlogging-setup
$20 TO SPEND ON AIRBNB – http://bit.ly/2g0F87Q
$20 TO SPEND ON UBER – http://ubr.to/2k1B89L
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