Sunday 14 April 2024

7 Actions That Could Make You a Millionaire If You Do Them

The first and foremost is to Register a company, even if you don’t have something to do with it at the moment. Most corporate deals go to companies, not individuals. 

Invest in learning how to write business plans, so you can get loans, because you don’t necessarily want to invest with your own money. Dangote did not build his refinery with his own money. He borrowed. Borrowing is the lifeblood of business. Understand how to carry out feasibility studies, dollar cost averaging, and other business related tasks.

When profit comes, convert it from money to assets. All monies, whether Dollars, Pounds, Naira, Cedi, or Shillings, are by their very nature designed to lose value over time. It is called inflation. That makes them liabilities. Invest in what rises in value over time. Invest in assets. 

When putting your money in assets, have a mixed portfolio of conservative and risky investments. Never put all your profits in risky assets alone.

Banks exist to suck money from people who don’t have business ideas, and give it to those who do. When you don’t know what to do with money, you save it. When you know what to do with money, you borrow from banks to invest in a business. Instead of saving, learn how to invest your money yourself. 

Money is never static. It is either growing or shrinking. When you don’t know what to do with your money, inflation will make the decision for you by making your money shrink. Only by investing can you protect your money from inflation. If not, kiss it goodbye, 

If you do not know what to do with your money, invest it in the VOO and VFIAX. Both products are some of the safest yet most profitable investments on Earth. 

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