Welcome back to the Billionaire Blog, and welcome to Money Monday’s inaugural installment. Money Monday is a brand-new category dedicated to all things financial!
Before we begin, we’ve made a Tiktok page and a YouTube channel to assist us in motivating you! Make sure to have a look!
I understand that most of us just want to have fun in our 20s and aren’t concerned about the future, but I can assure you that if you follow these simple procedures for making purchases in your 20s, you will be set for the rest of your life and will have no financial regrets!
Things to buy in your 20’s
1. Investing in a Side Hustle
A side hustle can be a terrific method to gain financial stability; if you have an extra $100-$200 per month to spend, you can quickly turn that $100 into $1,000 in a matter of months. Buying used books from a secondhand store and selling them on Amazon is an example of a side hustle. Even if you don’t like the notion, there are plenty of others to consider, such as the following:
- Drop Servicing
- Starting a Youtube Channel
- Becoming a Graphics designer
- Affiliate marketing
2. Buying an Index Fund
I understand that investing in index funds may not seem thrilling at first, but wait until you hear how much money you can make. If you save or have an additional $200 each month, you can invest it in an SMP 500 fund, which has traditionally provided a 10% annual interest rate. In 45 years, you’ll have made nearly $2 million! And I understand that you don’t want to be wealthy when you’re old; you want to be wealthy right now, but the simple truth is that if you use all of the strategies on this list, you won’t be wealthy right away. You’ll be wealthy indefinitely!
The best news is that this money will be tax-free if you invest in an ROTH IRA in the United States or an ISA in the United Kingdom.
And before we get started on education, I just want to emphasize that if you ever want to be wealthy, don’t invest in a college degree; it’s just excellent for making someone else wealthy while leaving you with student loans. When I say “invest in education,” I’m referring to things like buying courses on Udemy, buying books on Amazon, and so on. If you master one skill per week (by following our “Perfect Morning Routine“), you will have mastered 52 skills in a year, which is far better than a college degree for your future as an entrepreneur or business owner.
“Think and Grow Rich,” by Napoleon Hill, is a book that I believe every entrepreneur should read at least once. Elon Musk, Bill Gates, Jeff Bezos, and even Warren Buffet have all recommended this book. You can get a copy of the book right here!
We never know what will happen in a year’s time, but one thing I am certain of is that Bitcoin will continue to grow in the coming years. In 2014, a friend approached me and stated he was going to buy some bitcoin at $200 per bitcoin. I was surprised to see him squander his money in such manner. Looking back, I wish I had purchased 12 bitcoins as well. Because bitcoin is now worth more than $30 000! Bitcoin will soon be worth more than $100,000, and I recommend you purchase now before you make the same mistake I did!
Fortunately for us, apps like Binance and Blockfi allow us to purchase Bitcoin in under 5 minutes. You can read our whole post on where to buy Bitcoin here, or I’ll just give you a quick rundown of my two favorite cryptocurrency exchanges: Blockfi is a service that allows you to earn interest on all of your Bitcoin holdings, at a rate of up to 9.5 percent APY, which is outrageous, and the best part is that you can get $250 if you sign up through this link!
Binance does not pay interest, but due of its low commissions, it was named the greatest cryptocurrency exchange in the world in 2020. The commission works like this: if you have a special invite link, you will receive a 20% bonus on every dollar you spend on Cryptocurrency. So let me break it down for you in numbers. If you invest $100 in Bitcoin, you will receive $120 in return, which is incredible! Here’s where you may get your Binance invitation code.
That’s it, guys; if you want to be impoverished for the rest of your life, skip all of these steps; if you want to be successful in life, make these purchases right now!
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