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About this episode:
Youāve decided that working for the rest of your life isnāt 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 youād 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 thatāll 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 ā is it for freedom, choice, happiness, ability to direct your time, mastery, power or self-fulfillment?
Excerpt From theĀ Rask Finance Investing Basics Course:
āOne of the most important lessons Iāve learned from all of my years investing is this: if you donāt understand it, donāt buy into it. Shares, property, Bitcoin or gold, it doesnāt matter. If you donāt understand the potential benefits and risks and how an investment will make you money, donāt own it.ā