Investment does not always have to be in the form of shares. Even the millionaires also do not always invest to spin money to achieve success. There is a stock advisor newsletter that can help someone to be aware of the latest market conditions and stock prices best investment companies.
Five well-known success billionaires in the business world provide the best investment advice for millennials if you want to succeed.
1. Investing in the Mastered Things
The third-richest person in the world, Warren Buffet, is known as the most successful investor in the world with a net worth of US $ 82.9 billion. Buffett suggests investing in something that you are good at whether it is a stock or a business. In this way, you will be better prepared to face future investment risks. The risk comes from your ignorance of what was done.
2. Investment in Appearance
The real estate queen, Barbara Corcoran, suggested investing in appearances. Maintaining a good looking and elegant appearance can build trust when expanding networking and gaining profits. A study also showed that employees who have an attractive appearance are more successful and have diverse opportunities.
3. Home Investment
Billionaire David Bach suggests investing in houses. Use your savings for house investment both for living and for rent.
If millennials don’t buy a house, then their chances of building wealth will disappear. An average homeowner is 38 times richer than a tenant.
4. Invest Money to Maintain Relationships
Billionaire Richard Branson recommends investing money to maintain business relationships. How do you maintain relationships with business partners to customers? If you have to spend ‘capital’ first, it doesn’t matter because it can have a positive influence in the future.
5. Investment by Always Paying Debt
Billionaire Mark Cuban emphasizes millennials to always prioritize their money to pay debts. Millennials often neglect their debts because they think the amount is small and lending rates are light. But this is not healthy for you financially.
The best investment is to pay off your credit cards and pay off all your debts. Whatever interest rate you have even if only 7% when you pay it off, 7% returns to you. This is the best investment for the future by living without debt.