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Sell baby sell...!
This may be a "controversial" answer to some, but...
The original Rich Dad Poor Dad was pretty good at one thing...
He said buy ASSETS, not LIABILITIES...
He said an Asset is something that puts money in your pocket. While a Liability is something that takes money out of your pocket...
Simple. But many people don't understand it...
They might put their money into a brand new car... Which (in most cases) will lose half its value in the first couple of years or so!
(In most cases, a new car is a liability... The exceptions might be some rare or collectible cars, which could increase in value...)
Better to put your money in something that is more likely to go up in value... If you don't know anything about funds, you can put it into an index fund. If you study and know what you're doing, you can put it into real estate property... (Not all property will go up. But you can figure out which property is more likely to go up than others...)
Of course, you can put it into business (someone else's, or your own)... This is probably riskier than index funds or real estate property, but with more potential upside as well...
Then there are other alternative investments... like gold and silver, trading cards, and even cryptocurrencies (that's high risk in my opinion)... You can invest in music rights (see https://www.royaltyexchange.com )...
But, what if you're starting from zero?
I've gradually built up my skills over the years... But I agree with some advice you gave me many years ago, which is that you have to learn how to sell. If you can sell, you can always make money...
I can go into more advanced stuff... like business strategy... but you have to be able to crawl before you can walk... So that's what I'd say to a "beginner" in the area...
And keep learning and improving...!
If you do it well, it can lead to a lifetime of security... and also adventure...
Last edited by Dien Rice : August 17, 2021 at 04:30 PM.
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