Getting Into It
Recently I received a comment asking what an investor could do if they only had $1,000 to start investing with.
This is a pretty common question since I am often on podcasts speaking about how to rise up from the lower-income brackets and increase your net worth and income into the top 1%-5% of individuals.
I did a live training on it at the 100 Millionaires Summit in October of last year and the video is here:
A High Level View Of Wealth Stacking
For the short version, if you have less than $1,000 then the best investment is going to be getting yourself a skill or license that will drive income for yourself.
Having some sort of active income to start with is really important. I usually suggest commissioned sales of expensive products because selling pays the best and the fastest once you figure out who wants your product and you get good at finding them and talking to them.
Wealth Stacking Principle
Under $1,000 - Focus on learning skills that increase your income so you can gain savings
$1,000-$10,000 - Continue re-investing in yourself and your skills/business to increase income (this can be in the form of licensing, certification, or sales/marketing training)
$10,000-$250,000 - Invest in highly leveraged assets that pay for themselves whether the market goes up or down (I have found Real Estate OR Businesses are the most reliable cash-flowing assets)
$250,000-$500,000 - At this point, you can easily 1x-2x via most asset classes including Stocks, Crypto, Real Estate, and Businesses (But I still prefer Businesses and Real Estate that cashflow because they cover themselves and can use heavy leverage)
I also did training on how to make $1,000 in a week where I offered a number of different ways to earn extra money. (one of those options was selling affiliate programs online). You can find that training here:
https://gualteramarelo.com/how-to-earn-1000-in-one-week/
Join My Mission To Build 100 Millionaires!
As many of you know, I built my wealth through Real Estate and only now learning more about cryptocurrencies. I've found Leofinance to be a great place to share my insights and although I don't claim to be an expert in Crypto, I am considered a leading expert in small multi-family investing.
Each week I share my hard-earned insights on wealth building with anyone who will listen! I call this journey through the 52 wealth principles "The 52 Weeks To Wealth".
To join my mission and get access to my book for FREE at ibuildmillionaires.com
Thank You To This Community!
I provide these insights as a way to give back and help others who find themselves on the same journey I was when I got started. I want to say thank you to the Leofinance community for giving me the opportunity to learn more about Crypto as well as to the creators and team for providing many great avenues for investors to grow their wealth and knowledge in one easy place.
Cheers to our success!
@GualterAmarelo
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@tipu curate
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Getting a skill and focusing on developing it is one way to grow one's finance. Skills make you valueable and people often pay to get value.
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That is the truth my man! Entrepreneurs are masters at solving other peoples problems for a profit! The bigger the problem the better! #addMoreValue #ServeMorePeople #SolveBiggerProblems
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Solving problems is the easiest way to wealth creation
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Ok, so you are predominantly in property from what I have gathered. I think that utilizing partial real estate income for Crypto investments could actually be quite a good move.
Any cash flow business can actually be great to utilize opportunities in the Crypto market.
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@sapphirecrypto you've got the right idea! In fact, during this current crypto and tech stock pull back, I have been able to use the cashflow to invest in CUB, Polygon and picked up some ETH at prices I wasn't sure we would see again.
Having a cashflow business that is producing in dollars (for now) allows us to invest in alternative investments on a regular dollar cost averaging basis or build cash reserves when we see prices get a little over bought.
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Excellent approach. It should produce something quite spectacular in 5 to 10 years, that's for sure! This is why I advocate building business-type structures in Crypto because capital coming in can move into other Crypto-generating ideas or riskier high potential return scenarios.
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From one entrepreneur to another, I will say this: I like your style. A bit of a dick sometimes, but in a charming way, ha ha. The old me of years ago may not have understood, but over time I learned that if you want to succeed, the fact is you NEED to be a bit of a dick. if you're nice, people do not fucking respect you, that is the harsh truth of the world.
The million in cash where people paid to have photos with the money, was a very slick play. It taught 2 lessons: the fee was a small cost for those who need street cred, a photo with a million dollars in your life can catch the eye of the right person in business, or pique the interest of women (which raises your social value), or a variety of other benefits. It gets people talking, about you. The second lesson that it demonstrates is that having money, if you are smart you can utilize it to MAKE more money very easily. You made a few thousands dollars in about 10 minutes, at no cost to you, and minimal risk. That is some guerrilla marketing level hustle right there, I like it.
And yes, having cash is absolutely important. And physical cash too, I might add. It has many benefits. No risk of a transaction failing or being frozen. It has wow factor, especially these days since few people still use cash, it makes you stand out and gets people's interest. The rich and poor alike should always keep some cash on hand, for emergencies and convenience. I was overseas last months and my card was declined and frozen...if I didnt have $5k in cash with me I may have been fucked royally, or at least massively inconvenienced. I see crazies recommending only taking $100-$200 cash with you overseas, absolutely do NOT do that folks.
And also cash should be kept on hand so that you can sleep next to a big ass stack of cash sometimes for no reason other than just to remind you that you are a fucking baller.
Keep up the good work, and quick parting question: what is your "100 Millionaires" thing, is that a network building initiative, or something else?