Grow with Shiv

Higher paycheques does not mean wealth but higher net worth does. No matter if you have 100 dollars or 1 million dollars, you are going to invest in the following. I recommend investing in all of them throughout your life because it is safer to diversify your investing in all of them rather than putting all eggs in the same basket.

1. Yourself (Time, Degree, certificate, diploma, apprenticeship, TFSA, RRSP, NRSA): Investing in yourself is going to pay dividends in the upcoming decades. This is the best investment your money can buy. Getting Certificates, courses, diploma, degree, internship, apprenticeship makes you a more valuable individual. If you are already earning well, start paying yourself first with saving money tax free (TFSA) and in your retirement(RRSP).

2. Stocks(Stocks, ETFs, mutual funds, Bonds): Stocks are so easy to get in. With the help of compound interest you can contribute a little every month and be a millionaire at retirement. Mutual funds and Index funds are safest over the long run. Remember,  If your stocks are going down, you are not losing money. You will only lose money when you cash it out.

3. Crypto(Bitcoin, etherium): You can make more money in crypto than stocks but it’s risky. The good thing about crypto is there are no boundaries. You can buy stuff all over the world without a service charge. Top 10 cryptocurrency are good, after that it’s all riskiest investment. Remember, you should only invest as much as you are willing to lose in crypto.

4. Gold: Gold is finite in the world and it’s always increasing its value. If someday our bank system fails (highly unlikely), then gold is going to be useful. You should invest in it just to diversify your investment. Remember, gold is not investment but insurance.

5. Real estate (Rental, Airbnb): I personally like to invest in real estate because I can touch and feel it. It’s the hardest to get in but most satisfying. House is an asset only if you are cash-flowing it. This is the best investment for someone who likes to spend less time and money in their investments. At purchase and finding tenants takes time after that it’s less than an hour a month.

6. Business (Computer software system, content system, distribution system, human resources and real estate): Wealthy people know that half the game is making money, the other half is saving taxes and business is the best investment for that. It takes long hours and a huge chunk of money to start but business don’t have any cap to its growth. Business is fastlane to wealth because you can be a millionaire faster than any of the above investments. Business gives you freedom to do anything.

Money is a numbers game. Whoever is scoring the highest is winning. Don’t get trapped in lifestyle inflation with higher income. Your income is your means to get rich .Stay out of debt. If you have zero payments and you can keep whole of your paycheque, than aggressive investing makes you richest and wisest man.