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Everyone wants to grow their money. Everyone wants to stop working for money and make money work for them instead. Everyone is tired of being in the rat race and are desperate in moving to the fast track.
I can say this because every now and then we hear and see people in the news being victims of various investment scams. There are also those who get into business just because they are sick of their day jobs, wants to be their own boss, and thinks that having a business is the answer to their boredom. And of course, there are those who keep their money in banks thinking that it is the wisest thing to do.
Again, the key is to keep learning.
If we take enough time to learn, we can avoid being scammed and invest our hard-earned money in investments that actually work -- investments that the rich have, that the middle-class and poor are not aware of.
To name a few, you can invest in the stock market, forex or real estate. But before starting, please seek a mentor first. Someone who is an expert on those fields.
Getting into business is also a way to get out of the rat race. Aside from the fact that you cannot start a business right away, there is also a chance of failure. But remember that the rich fail their way to success. The key is to never quit. For those who want to get into business, I recommend reading How To Turn Your Passion Into Profit by my mentors Bo sanchez and Dean Pax Lapid. It contains the head and the heart of starting a business.
And those people who keep their money in banks thinking that it is the best way for their money to grow, think again. Most banks offer 1.25% interest per annum. The highest interest rate for time deposit is 1.85% if you have 5 million pesos and 1 year holding period. Last year's inflation rate was 2.6%. So when you think that you are growing your money in banks because of interest, you are actually losing money due to inflation.
Banks are for deposits and withdrawals only. If you want to invest in a bank, buy the bank through the stock market. In my case, I am a part-owner of BPI, BDO and Metrobank -- the giants.
Seek for Learning
There are a lot of seminars available on investment, books and organizations (read: Truly Rich Club) that guide newbie investors. Attend them. Read them. And find your way towards your own successful investment stories.
Happy investing!
