How to Invest in Anything 101. (crypto, property, stocks)

Investing in anything 101:

The BEGINNING!!

Rule NO. ONE!

NEVER EVER INVEST WHAT YOU CANNOT AFFORD TO LOSE!

Know I know it sounds simple, but this truly is the FIRST and most IMPORTANT rule of investing.

If you can’t afford to lose the money AND invest anyway! That is called GAMBLING. And trust me I know where gambling leads. I had an addiction to Gambling for many years it cost me dearly. I was so poor at one point that in the early 2000’s Had to go for 2 WEEKS without hot water because I couldn’t afford to pay for the gas. Not to mention eating toast for all meals….. Cold showers in the middle of a freezing winter is not a good way to wake up.

Thankfully I worked through my issues and no longer EVER invest (or gamble) any more than I can afford to lose and always much less than I can afford to lose.

The stress of being concerned about the loss of your money is much to high to make any foreseeable returns worth it. And again I know this first hand. Even if your gamble comes of, the effect on your health and state of being is so traumatic that any profit you make, will not help you get you back all the hours spent in mental anguish!

In relation to rule number 1 comes the second rule of investing. You MUST save at LEAST 10% of your INCOME so that no MAN may have claim upon it. This is the capital you use in your investing.
This is truly the only way you can invest and keep your sanity.

I will speak more on this second rule in my next post. But as an entrée, do yourself a favour and get hold of the book, THE RICHEST MAN IN BABYLON.

The most important investing book ever written. I have it downloaded on audible and would have listened to this at least 20 times. I love it. Great stories and beautifully written.

Hope you enjoyed the post. See you on the next one!