Becoming rich isn’t as difficult as people make it seem. Basically, you need to stay out of debt, live below your means, and invest your money. Every dollar you earn should have a mission to make you more dollars.
My parents raised me to work hard for money and pay expenses, and the rest is yours to spend freely. But the truth of discretionary income is that you should only spend the money that returns from investments.
As I become a more advanced investor, I realize specific quirks about my investing style. I am getting rich the way people have always gotten rich—dividends, royalties, and physical real estate.
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Also, I am focusing on the current cycle of new investments such as cryptocurrencies and real estate investment trusts. Finally, I look towards the future for the next era of investing. This future includes real estate tokenization, the metaverse, and virtual real estate.
It’s incredible when you put all these different eras of investing together. I am having fantastic success from the old style of investing. I love counting my dividends every month. My crypto portfolio stands to outperform in 2022. And, I am looking into how to leverage the metaverse going into the next few years.
Putting all these investing styles together means that I do not have to be super successful in any way in particular. Building wealth slowly implies that I do not have to take unnecessary risks. I can live smartly, invest wisely, and get rich slowly. There is nothing better than seeing your net worth rising every month.
Now, let’s take a look at each of these investing styles in detail. Hopefully, you can take away some priorities of investing for today and tomorrow. Start by focusing on what people did yesterday to become rich because you can follow what has been proven to work.
YESTERDAY
People in the past didn’t have access to all the bells and whistles we have today. Investing in the stock market required a broker, and they didn’t have Zillow to compare real estate at home. Use these tools to become rich. Investing in yesterday will make you rich without a doubt. Here is the blueprint.
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Dividends. Investing in safe, reliable dividend-paying blue-chip stocks will make you rich over time. We call this dividend growth investing. Some of the best ways to set yourself up for the future are through dividend growth investing and dollar-cost averaging. The earlier you start, the better off you’ll be in the long run.
Real Estate. Buying just one home makes you a real estate investor—with the right mindset, of course. Use whatever it takes to get into a home, then house-hack to get your mortgage down to zero. You’ll become rich very quickly when you don’t have any housing expenses.
Royalties. Everyone should have some sort of income from creativity. Whether that is YouTube, writing, music, or selling creativity, royalties can help you earn money while you sleep. The power of royalties is that they don’t cost much money to create.
TODAY
In the current environment, technology is king. Cryptocurrencies will be the wave of the future due to decentralized finance. If you want to ensure you invest for tomorrow, you must learn crypto today.
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Cryptocurrencies. Crypto is confusing, intimidating, and scary for most people. You can’t let that fool into thinking that it isn’t revolutionary. At the most basic level, you can invest for interest. You can also capture the capital gains while your coins pay you interest. Here is a quick guide on getting started with cryptocurrencies.
Real Estate Investment Trusts. Even though we love our physical real estate, we want to diversify our portfolio using REITs. REITs allow us to take advantage of diverse sectors of the housing market while collecting our rent payments in the form of dividends. Dollar-cost-averaging into REITs can make us wealthy over the long run. Here is a small guide to REITs.
TOMORROW
We don’t know what tomorrow brings, so as investors, we need to make educated guesses. Currently, I see the metaverse as the new frontier of wealth. We need to learn how to leverage the metaverse and its virtual real estate to ensure our children’s wealth. Also, buying tokenized real estate may be the next big thing in physical real estate.
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The Metaverse. The Metaverse will usher in a new gold rush of digital goods and services. Almost everything we do in reality, the metaverse will reflect inside its digital worlds. Those who try to resist will be left behind. Understanding the landscape of virtual real estate will take time and investing knowledge. Here is a small guide to the Metaverse and cryptocurrencies and how they support one another.
Real Estate Tokenization. The blockchain is what keeps the world of crypto pumping. Everything that happens in crypto takes place on the blockchain. So, when people start selling potions of physical real estate via the blockchain, it could be a huge game-changer. Now, more people than ever will have access to real estate outside of REITs and the stock market. Here is a small guide on Real Estate Tokenization.
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Conclusion. I want to keep this short so that you can focus on each of these vital investing segments. Becoming a well-rounded millionaire means understanding the past, present, and future.
The past, present, and future all guarantee your long-term success—learn all of them, and you’ll be unstoppable. Those who stop learning won’t survive long in this information-based world. Plus, it’s fun to invest!
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