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Quick Start Guide To Stock Investing
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If you’ve always wondered what the steps were to becoming rich, it’s actually quite simple. In fact, you might already know them.
The trouble is… even though you know them, you might not actually do it.
So what are the 3 steps?
That’s basically it. I told you that you might already know the three steps.
So do you actually practice them?
A lot of times people think that the key to getting rich is to simply earn a LOT more money.
“If only I had an extra $1,000 a month.”
It’s very easy to think that just by making or having more money, all our financial worries will disappear. But that’s not true. And the reason is because for most people out there, making more money simply gives an excuse to start spending more — it’s called lifestyle inflation.
Have you ever got a $500 raise only to start blowing your extra hard-earned money on new clothes, bags, watches, restaurants, and entertainment? Not only that, you justify your spending by telling yourself you deserve it. Because you’ve worked so hard and “I should be allowed to indulge myself”.
Now don’t get me wrong. It’s perfectly fine to reward yourself when you receive a nice raise or achieve a financial goal. But if you increase your spending every single month to “reward yourself” then you’re back at square one. You’re making more money but you’re not any richer.
You see, even if you make twenty thousand dollars a month but you spend twenty thousand dollars every month, you’re still BROKE. It doesn’t take a math genius to know that you need to spend less than you earn in order to grow richer.
The reason is quite simple — inflation.
As inflation rises, the amount of goods/services you can buy with the same dollar decreases. The average rate of inflation in Singapore is about 4% a year. That might not seem like much but in 30 years, every dollar you save now will only be worth thirty cents. That’s why saving alone will not make you richer; every year that inflation rises, you get poorer!
And if the eroding value of your money isn’t bad enough, Singapore is already the most expensive city in the world according to the Economist Intelligence Unit — for the second year running:
Source: The Economist
Which is why the final step – invest – is probably the most important step of all.
We all hear that investing is important but here’s exactly why:
Ok, so we know we must invest.
Now the problem is: How do you pick the right investments (stocks, etc.) that will give you 20% returns on average every year?
If you’re interested to know the answer to that, then we’d like to invite you to discover what’s really working in the investing world and how you can identify the best stock investments that will grow your money year after year…
Here’s how you can get started on investing:
If you someone who’s yet to invest, NOW is the best time to get started.
Like the ancient Chinese proverb says:
“The best time to plant a tree is twenty years ago, the second best time is today.”