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3 Ways to Boost Your Savings

3 Ways to Boost Your Savings

If you’re simply saving your money, you’re holding onto money with a value that is being lowered every time a new dollar bill comes flying off the printer.

If you’re smart, you’ll be looking to raise the value of your money instead of letting it dissipate.

Investing is a great way to do just that.

But if you’re new to investing, it can be a little bit overwhelming. That’s why I started this project…

Through the Money Revealed docuseries I was able to interview the best minds in the financial world. I learned a lot.

When I sat down with Robert Kiyosaki he broke down three different ways you can invest and grow your wealth.

Today I’m going to break down what I learned.

Let’s get right into it…

#1. Real Estate

When you invest in real estate you are buying into a future stream of revenue off the property that was purchased.

This type of investment can diversify your portfolio and give you potentially higher returns than other types of investing. Plus, it protects you against inflation.

If you’re looking for a stable source of income, look no further.

One of the best features of real estate investment is the large proportion of total return building up from rental income over the long term.

Because investments that rely on income return as opposed to capital value return are less volatile, these types of investments usually give the investor more security.

Obviously, not everyone has the cash to start investing in properties across the globe. The next types of investments Robert covered are probably more familiar to you…

#2. Stocks, Bonds and Everything in Between

Bonds, stocks, mutual funds, currencies, ETFs and savings are also known as paper assets. By investing in one of these assets, you are establishing ownership.

For example, when you buy shares of a company’s stock, you are purchasing a small piece of the company.

So how can you profit?

Well, there are many things that can affect the profitability of these investments. The state of the market is one of them. There are catalyst events that can boost the value of a stock. Negative things can pop up in the news and stocks can go back down.

Some people stay away from these investments — but that could be a big mistake.

Just make sure you do your research on the companies before you invest. They can be very lucrative if you execute trades properly.

#3. Commodities

A commodity is a basic good used in commerce that comes from the earth. Think gold, silver, oil, cotton and coal.

Most investors buy commodities through the Chicago Board of Trade (CBOT) or the New York Mercantile Exchange (NYMEX).

You also have the option to buy the physical property itself.

Make sure you take steps to protect your physical investment if you go that route. For instance, if you buy a bar of gold, make sure you stash it in some type of safe to stay protected.

Like real estate and paper assets, the values of commodities change over time.

Over the next couple of weeks, we’ll dive into more detail on how you can start with each of these investment types. Stay tuned.

With Purpose,

Dr. Patrick Gentempo

Patrick Gentempo