Do You Need Money to Make Money?

Do You Need Money to Make Money?

YW0412One of the most common myths that Jason Hartman’s team deals with is the idea that investments are only for the rich. Fortunately, that isn’t true! While you’ll need at least a little bit of money, you certainly don’t need to be swimming in it to make great investments and become a person with great wealth.

What you do need, however, is knowledge. It’s certainly a more powerful tool than money, which ebbs and flows. By being an informed investor, you are able to select investments that are best for you, buy at the best times, and sell when it will make the most profit. If you need proof, simply think about most of those who win the lottery. While they’ve been given this extraordinary sum of money, most lose it quickly because they are not equipped with the knowledge to make it work for them.

Instead of focusing on the amount of money you might need to make more money, think about your money’s ability to create a positive return. This is of greater importance than the overall amount generated from your investment. If you can turn $2 into $4, you’ve got a 100% return on your initial investment. As your money grows, these numbers are sure to grow. The ability to make money from a small amount of capital is crucial to building wealth.

If you’re not able to invest in something as substantial as real estate, consider beginning with something smaller. Crowd funding is a great and popular way to give life to projects you care about without spending very much money. Peer lending networks are also great ways to invest your money and make a little extra.

Better yet, invest in yourself. Future you will certainly thank current you for putting some money into a retirement account or building a nice rainy day fund.

You can build wealth in a variety of ways, no matter your current financial status. A little determination, research, and cash (no matter how small) can help you build a great financial portfolio.

What investments have you made or are you thinking of making? Let us know! (photo credit: “lapolab” via photopin cc)

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The Young Wealth Team