You can turn a dollar into a billion if you’re savvy and conscientious. Certainly that’s easier to say than to do, but with dedication, will, and strategy, you can see the ROI (Return On Investment) you seek.
Remember, you aren’t what you think you are; you are what you think. See, what you believe yourself to be is a future projection. But you, thinking, right now, in this moment—that’s you. You can’t be in the future and the present simultaneously! So align your thoughts.
You need to apply your thoughts toward reasonable, realistic investment options—if you want to increase your assets. First, take a tally of available resources you can use to make investments. If you’ve got $1,000 available, use $500 for an investment of one kind or another.
Consider whether or not you want to invest in liquid strategies. “Liquid” investments can be moved around a bit. Property is not liquid. It’s the least liquid investment there is. In contrast,Cash “on hand”, or investments that can quickly be turned to cash, are of the most liquid kind.
Essentially, liquidity means flexibility and availability.
Breaking It Down
If you’ve got $500 cash, that’s a liquid asset you can expand. Now investing it in a bank is a safe bet, but interest rates even as high as 3% won’t do much for you year to year. That’s just $15 annually. It would take you thirty-three years and four months to double your investment in such a way. However, if you invested in the right stock, you could double it overnight.
What you might do is start by splitting up assets across multiple stocks. This is best with larger assets. Say you’ve got a million dollars, now, rather than $500. Three percent interest on a million bucks will give you $30k a year to play with. If you’ve got those kind of assets, what you might do is just reap your interest annually and play with it to find what works.
Something else worthwhile is investing in local businesses, or even property. Just because property is stationary doesn’t mean it’s a bad investment; it just means if things go “sideways” on you, it’ll be harder for you to recoup your pervious assets undamaged. For those in need of investment advice, consultation with professionals like those available in the link is wise.
Think Outside The Box
Anything can be an investment, too; don’t be afraid to think outside the box. Here’s an idea that might be worth considering: you buy a vehicle that’s half as expensive in one state as it is in another, then sell it on Craigslist at a discount. Say you can buy an RV in Wyoming for $12k that’ll sell for $24k in California.
You buy the vehicle, drive it to a cheap motel stay there while you seek a buyer, and sell it for $20k—a sixth below other vehicles being sold on the market. If it costs you $3k in travel and living over the course of a month, you made $7k in profit after expenses.
Now, you can do the same thing with a $15k RV, and buff up your profit to $9k. It’s conceivable that doing this successfully year over a year could provide you a comfortable salary, allowing you to continue branching out into more complex investments.
Granted, much of this is hypothetical, but here’s the point: think outside the box, and understand costs associated with varying goods in varying places. Wise investments pay off over the long run.
Different assets will have different value, and consultation can be a key means of ensuring you get the most possible profit for what you spend. Think outside the box, determine if liquid or stationary assets make the most sense, and don’t be afraid of obscure investment strategies.