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Prioritize any funds used for nonessential spending toward your investing goals.
Additionally, the team pointed out that you dont always need to use your own money for investments.
Learning how to leverage other peoples money can open up new opportunities.
This can include taking out loans, using margin accounts or attracting investors to fund ventures.
Paper Assets
Paper assets include stocks,bonds, mutual fundsand retirement accounts.
They also cover real estate investment trusts and exchange-traded funds.
Real Estate
Investments in this category can provide rental income or capital gains from property sales.
Business
you could invest in starting your own business or in someone elses private company.
The goal is to generate returns for yourself, the business and any investors.
These investments spread risk across multiple assets, providing amore balanced and less volatile investment experience, he said.
They recommended writing down your goals and reviewing them regularly.
Investments for this goal might be allocated in low to moderate risk assets to preserve capital while achieving growth.
This might involve a diversified portfolio aimed at maximizing returns over decades.
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