iskawrites 3Speak Podcast: Recent Episodes
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Listen and watch the latest videos from iskawrites. Hosted by 3Speak.tv. The free speech video platform on the HIVE blockchain.
https://3speak.tv/watch?v=iskawrites/aygiascm
With investing, you should be using a long-term strategy and not make decisions based on your emotions.
Investors have more security from market volatility when they are not invested in one company or industry but in many companies across many sectors.
It also helps that they invest over the long term, so taking the risk of short-term fluctuations is reduced.
Investors can also take advantage of diversification when it comes to their investments to even out their risks and protect themselves better against threats or downturns in the economy.
https://3speak.tv/watch?v=iskawrites/wjfveryg
There is a difference between income and wealth. Income is what you earn and it can be spent, but wealth is all the things that you have accumulated.
You can make lots of money each year, but if you spend it all, then you will not become wealthier. You could spend a lot and still have more wealth.
So what do we need to do to become wealthier? Wealth is created when you save some of your money and then invest. You can invest in things like stocks, bonds,real estate, gold, crypto, precious metals, etc.
Savings grow over time as interest accumulates, and investments can be worth a lot more than they cost you at the beginning.
Wealth = What you accumulate- Spending
Therefore spend less, save more, and invest frequently to become wealthy.
https://3speak.tv/watch?v=iskawrites/otxptgnl
The key to achieving financial freedom is to accumulate as much wealth as possible while you are working.
That's difficult to do because most people are spending far more than they are earning.
At some point, your income will exceed your expenses. When that happens, you can use your savings to help you reach your financial goals.
If you already have enough money saved, you can apply that money to investments.
After that, you can continue to save for retirement.
If you want to retire early, you can cut your savings rate and invest that money instead.
Don't wait until you're retired to start enjoying life. Start now. Stop spending money on useless stuff and start saving. Save as much as you can.
Then, once you have enough saved, you can start focusing on growing your net worth. Remember, you can't spend more than what you have. If you want to keep building wealth, you need to save as much as you can.
Life is too short to spend in an office or factory. Work should be fun.
Once you've built up a large enough nest egg, you can stop working and enjoy life with less stress. Retire early, travel the world, volunteer in your community, visit family members who live far away, or do whatever else you want to do.
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