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2020 was really the year that reiterated how important it is to supplement your income and invest.
Here are some ways ➡
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incomerivers
373 posts
incomerivers
@incomerivers
Finance 💰 | Investing 📈 | Self Development ✏️ | Teaching others how to build wealth and acquire passive income streams 🌊 | Follow us on Instagram ⬇️
New York شامل ہوئے Haziran 2020
185 فالونگ77 فالوورز
@TheStacksMarket Interesting! Telahealth has so much growth potential, I believe it’ll sky rocket in the upcoming years
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@incomerivers I much rather preferred $LVGO as a stand-alone company because of its growth prospects, but I believe the combined company can be a juggernaut if they execute.
$LVGO was my top holding, but not planning for $TDOC to be. I’m holding though.
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@chrissssjohnson @NewCityStyle Wow, also reading this at the moment and Morgan Housel makes it flow like poetry with some of the stuff he says 👏
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You know a book is fire when you don’t want to finish it
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New rule for money going into 2021
Any time I want to buy something, I must invest the cost of that into the market too.
Let's say I buy sneakers that costs $160, I also have to invest $160 into the market.
If I can't afford both payments, I can't afford the sneakers
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Money is not the root of all evil. Money is neutral
It is up to the individual to use money for good or bad purposes.
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The two most important actions you can take to improve your credit score 👇
1. Pay bills off on time
2. Take your limit and multiply it by 30%. Don't carry a balance of more than this unless you absolutely have to.
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The ROI of having a savings account you can live off of while you lost your job is immeasurable
The ROI of a savings account that lets you pivot from a job you hate to one you love is immeasurable
The ROI of having a savings account that frees you from worry is immeasurable
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Lastly, and this isn't talked about enough but the ROI of having a flexible savings account is higher than inflation.
How?
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Building a savings account is equally important as building an investment portfolio.
"But your money earns nothing in the bank and loses purchasing power because of inflation"
That's true but 👇
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Timing the market is impossible. The best you can do is buy stocks when they dip to an entry point you feel comfortable with.
Can it fall more after? Of course. Do you know it will? Nobody does.
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Had a friend text me this morning saying "Man we shoulda waited on (a certain stock)"
Because it fell more than when we bought it last week. My response was 👇
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Being unhealthy is hard
Being poor is hard
Being fit is hard
Being wealthy is hard
Choose your hard
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Point being, there was a time where stocks had ups and downs and I was oblivious to it all. Missing out
And right now, there are people in the same scenario. Not even aware of what's happening in the market
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Being so wrapped up with the market (more awareness and learning than not)
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A time where I knew nothing about stocks and never looked at anything stock related
is a mind blowing feeling
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Warren Buffett said
"Be greedy when others are fearful, and fearful when others are greedy"
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How to stay disciplined when the market is falling 👇
- Understand that without red days, you can't have green📈📉
- Realize that stocks are on sale giving you a buying opportunity💵
- Focus on the long term ⏳
- Don't constantly check prices 🏷
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