In my posts of the last two weeks, I spoke about Secret #1 & #2 of the wealthy. Today I will talk about what I consider the 3rd secret of the wealthy.
If you’ve heard me on a radio show or podcast, you probably heard me explain these. I use the acronym AFI as an easy way to remember them. And this has nothing to do with the American Film Institute.
The three secrets are:
1. A = Attitude
2. F = Forms
3. I = Investments
Today I will address investments.
Way too many people think the only way to create wealth is to do well in the stock market. They think they’re limited to stocks, bonds, or mutual funds. The wealthy are not limited to these investment choices.
One of the categories the wealthy invest in is real estate and its many forms. Real estate investing is not limited to a second or third house. It could be apartment buildings, office buildings or office parks, trust deeds, self-storage facilities, triple net leases, REITs, board and care homes, or warehouses.
They may be investing in their own business or the business of others. They could have oil and gas investments, cryptocurrencies, life settlement products, or peer-to-peer lending.
If none of this is familiar to you, that’s okay. The point is there are so many other opportunities than you may be aware of.
And the wealthy often control their investments. They might create the real estate syndication or use their business as the path to wealth. They are not giving their money to someone else, like a stockbroker, and hope they do well with it. Park and pray is not a good investment strategy.
It does take some education on your part and Google can provide much of that.
What are the investment areas you want to learn more about?
To Your Prosperity,
Rennie
