The path to richness, part 13 - The best investment for a beginner ...

In this series of 17 posts my goal is to bring to the front the consciousness of your relationship with money.

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In this post I share an answer I gave to a young man, who is wondering what to do with the amount of money in his possession. His first tendency is to find a passive investment to get the highest return at the lowest risk. That means a deposit that yields 0.1% return annualy! Yes, you read that right, the returns on solid investments are very low nowadays.

In my answer I avoided referring the questioner to places where he could get a significantly higher returns, because hoarding money is not the main thing and certainly not in their age and place in life. Instead my recommendation is to invest in themselves:

credit: unsplash

The question:

I just finished my military service and received a grant of $10,000. Where can I invest this money and at least $1,000 every month, to get a good return and increase my savings?

My answer:

The best investment is in yourself. It will yield you the highest return over time.

specifically:

Go study a capital market/crypto trading course. This is important because the investment world is changing and you should know basic concepts to take responsibility for your investments, now or in the future.

After you will have learned start trading. For starters dedicate a relatively small sum. If you are lucky you will lose that sum, then experience emotional ups and downs and then find the mental balance. It is critical because the experience will teach you about the 'consciousness of abundance'.

Once you have reached the mental balance invest in the capital market. You may be a day-trader yourself (not recommended, time consuming. Do it after retirement) or create an investment portfolio for yourself and monitor it on a weekly/monthly basis. How much to invest? Depends on the level of risk you will be willing to peacfully live with.

Then (or at the same time) go and learn 'how to start a business'. There are many free or low-cost courses from offered by the government. These courses will give you knowledge in business management, accounting, marketing - necessary tools for personal empowerment.

Then start a business. No matter what, it's better to have something you connect with conceptually or passionate about. Do this only together with partners (at least one). Invest most of your time in the business, make the most of it, but know how to release when the time comes (release = close it or pivot the field of operation).

From there life will already lead you to the abundance that awaits you.

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Links to previous posts in the series:

The path to richness, part 13 - The best investment for a beginner is in themselves

In this series of 17 posts my goal is to bring to the front the consciousness of your relationship with money.

The question:

My answer:

From there life will already lead you to the abundance that awaits you.