Back then in my early 20's I was much motivated to start a business. I wanted to invest money and earn an income that was passive.
I had a mind that preferred business over doing a job. Probably because of my low budget, I couldn't start a tangible business but I did invest some of my father's money in a few online businesses.
Those investments didn't work for me. I ended up losing all my investments. It's probably because I was looking for shortcuts.
At a younger age, you don't have the experience to look back and forth evaluating the risks involved while trying to invest in something like an online business with no clear roadmap and promising unrealistic returns. All we had to get was a dose of motivation listening to those speakers trying to motivate us.
Many people are not aware of the rule of doing business and the importance of investment. Many people invest in items that are high in demand, like Gold, some Cryptos, real estate, and other costly things.
Investing in a field where you don't have the expertise could turn out very risky for you.
Talking of investment in the crypto field, many people invest money in high-value cryptocurrencies. But if you ask about what you know about the road map of the crypto project, they simply don't have the answers.
Rather, they fall into the FOMO seeing the price value of the crypto. I am not saying investing in high-value cryptos is bad, but what I am saying is that at least you should also try to dig into the project and understand its roadmap.
It's better to invest when you have the experience or some understanding of something rather than falling for those expensive goods.
No doubt, that investments in gold, silver, real estate, etc are good investment fields, but if you don't have enough experience in them, you might be at more risk.
On the other hand, if you have less money but you have experience, you could make the best out of the small money invested just because you knew how to run the business depending your experience.
One of my friends told me about a guy who used to work in a bookshop with someone, and after some time, he is now an owner of a bookshop himself.
Time to use your money wisely and know the basics of investing.
Note: This is not a financial advice.