At Investing Thrills we are a diverse and international team of friends … entrepreneurs, business men, investors … male and female. During our careers and lives we have observed (and have been guilty ourselves of) a profound fear and generalized ignorance about money and wealth. Our goal with Investing Thrills is to leverage our experience & passion to provide you with info, guidance and inspiration throughout your journey to wealth. Our mission is to share what we have learned and we go on learning to empower you and totally change your perspective on “money”.
What makes us Different…
We are an international team with diverse background. We care about others. We collaborate. We believe in the power of love, knowledge and passion. And we cooperate in this blog with a smile, because we’re pretty damn excited to do what we do and to help you in getting money … and not only!
Let’s start sharing our Manifesto … our golden rules to success & wealth
- Always invest in yourself … you are the most important asset you have
- Debts are a burden … cancel them
- Spend wisely
- Always strive to increase your profits
- Invest smart
- Give back and always be grateful of what you have
…if you follow them and if you are resilient, not only you will be wealthy but your journey will be full of meaning and satisfaction.
1. Always invest in yourself … you are the most important asset you have
You need to nurture your mind, your body and your soul to have a successful life. With Investing Thrills we will focus on the mind … but our suggestion is not to forget the rest, it is equally important!
“Mens sana in corpore sano” is not only a latin saying but it’s a deep truth … your mind will perform better with a healthy body and vice versa. And remember: “Only the balance between mind, body and soul will make you really wealthy”.
Now let’s focus on the mind.
A college degree is not assuring money but it’s increasing the probabilities of getting it. Those with a four-year degree earn at least 66% more than those with only a high school diploma and their unemployment rate is 50% lower. Selecting the right major makes a big difference too …there’s a huge delta between the salary of an economist and the one of an accountant (50% average) … and this will change your path to wealth.
Never stop to be curious and to improve yourself … read, read, read … about business, technology, leadership, finance and, for sure, investing.
2. Debts are a burden … cancel them
It’s possible to incur in debt into our lives, but we need to limit it because it seriously is a burden.
In addition, not all debt is equal. Good debt can be considered as an investment … you are spending money now in expectation of getting your money back. While bad debt is just spending money with no pay-back.
Let’s see if the concept is clear… How do you define a student loan to get a degree in a high paying field? And credit card debts for things you do not need? J
Good debts or bad debts … we need to pay them off in a smart way. If you have student loan debt, you can refinance it for a lower interest rate. If you have a credit card debt you have to eliminate it ASAP!! Because of the high interest rate, you need to have a structured plan. If your credit history is good, you can apply for a balance transfer credit card and this will give you a no interest period , really important to recover on part of the debt.
3. Spend Wisely
One of the big differences between rich and poor is that a rich individual focuses on investing while a poor one just spend the money. So, please, spend wisely!!
Budgeting may be a good exercise because it helps you to stay focused and, above all, shows you where your money goes. There are different application available today and we can go in detail in the future.
Another good suggestion is to spend your money on experiences rather than things. Experiences, like learning, are enriching. They became part of our identity and they make us happier. Buying a pair of shoes isn’t going to change your life; taking a break from work to explore Indonesia, its population & culture most certainly will.
Eliminate subscription services you no longer use. Make sure the one you keep are competitive.
Use apps that can help you save money when you shop … among the most popular Swagbucks and Ebates.
Pick up the right place where to live … remember, even low six figures don’t go that far in New York City, London, San Francisco, especially if you plan to have a family. So, when you’re looking for work, don’t discount smaller cities and watch the cost of life.
4. Always strive to increase your profits
Never settle! There are many ways you can increase your profits.
At work you can better negotiate your salary. Benchmark it leveraging sites like Glassdoor, learn the negotiating techniques and be ready to use them. And if your are still not satisfied, look for another job.
Create an additional income stream … you can have a second job (ideas: dogsitting, Uber, babysitting…) or smart side activities (answering surveys, starting a blog, creating a youtube channel … ).
5. Invest smart
There are two key principles to invest:
1) invest early … there is no magic in compound interest but it makes a huge difference in your wealth! So start now …. You don’t need a lot of money or a lot of knowledge about investing to get started. For example try with Wealthfront, the process is simple, there is no minimum and the fees are low.
2) diversify … do not put all your eggs in a single basket. You can invest in the stock market, in real estate, 401K, crypto-currency …
Let’s start with the 401K. This is an employer-sponsored retirement savings vehicle that allows you to invest part of your paycheck, pre-tax, into an investment account where it grows tax-free until you are ready to start withdrawing from it when you retire. A 401k also lowers your taxable income. If you earn $4,000 a month and invest $1,000 into your account, you are only taxed on the remaining $3,000. Some employers offer to match too (with a cap of about 3%), which means free money!
Real estate is another great way to diversify your investments … and it does not mean that you need to buy a house and rent it! Fundrise and Roofstock are great places where to start, go and check them out.
As far as the stock market & crypto-currency we will go more in detail in the future. Here again it is important to diversify, to know your risk attitude and to know the subjects. My suggestion is to start studying, reading the news we provide you on a daily and to reach out to experts.
6. Give back and always be grateful of what you have
This is really important … we are truly rich (we do not leave in lack and fear) and deeply joyful when we give, when we share!! It has even a biological explanation …when we give without expecting anything in return (=take care of others) we produce Oxitocin, a chemical that makes us feel well, safe and releases our stress allowing the boost of our immune system. But there is more … the receiver of the act of generosity and the people witnessing it get a shot of Oxitocin too. So this generates a virtuous circle of wealth, joy and health! Let’s give back, let’s take care of other people, let’s be grateful of what we have and we will truly be wealthy, healthy and happy!!!!
This is our purpose at Investing Thrill … to give back our knowledge, our experience to create wealth , heath and joy.