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About this episode:
You’ve decided that working for the rest of your life isn’t going to cut it anymore and you want to have freedom over your time. Putting money aside in a jar or savings account is going to be a slow journey, and you’d like to be financially free prior to going grey. Building wealth over time is absolutely possible through investing, and in this episode, we review the core asset classes that people just like you are investing in. The barriers to getting started are virtually nonexistent nowadays, so get started today in building something that’ll support those great dreams of yours!
Resources:
- MoneySmart: Goals and Risk Tolerance
- MoneySmart: Develop an Investing Plan
- What is Diversification? Introducing the Healthy Investing Pyramid
Start by identifying your goals and reasons behind investing, as this helps you to stay on track and grow your wealth. Why do you want to build wealth and financial security in your life – is it for freedom, choice, happiness, ability to direct your time, mastery, power or self-fulfillment?
Excerpt From the Rask Finance Investing Basics Course:
“One of the most important lessons I’ve learned from all of my years investing is this: if you don’t understand it, don’t buy into it. Shares, property, Bitcoin or gold, it doesn’t matter. If you don’t understand the potential benefits and risks and how an investment will make you money, don’t own it.”
