6 Ways I Would Spend Your Money
There is no shortage of ways to spend your money. But what can you spend your money on today that is likely to produce returns for you in the future? That kind of shift in your spending can change your life.
Here are six recommendations for people who are looking for ways to spend money that will benefit you long term:
1. Buy a personal home: I bought my first home for $300,000 in 2009, and it’s now worth around $750,000.
2. Buy a rental house: I recently converted a vacation rental home into a long-term rental, which is a great way to earn passive income. I met a woman who bought a house each year in her 20s, and she now uses the income to fund her retirement.
3. Buy stock: You can buy anything you believe will rise in value over the coming years, such as Apple. You can also buy into the S&P index fund, which has averaged over a 10% return in the last 10 years. Additionally, I know a great money manager if you’d like a recommendation.
“By investing in these areas, you can help yourself grow both financially and personally.”
4. Spend on travel and experiences: This may not get you a return on your investment, but I believe it’s worth the money. Every time I’ve traveled, I’ve learned and grown from the experience. I’ve even come up with new business ideas and found new clients during my journeys.
5.Buy a Spouse
5. Buy life insurance: I recommend a term life insurance plan. It provides your spouse and loved ones with security!
6. Invest in yourself: You could read a book, take college courses, hire a business coach, or do anything else that helps you develop your skills.
By investing in these areas, you can help yourself grow both financially and personally. If you have any questions about the investments I discussed today or concerning real estate, feel free to reach out to me.