Entrepreneurs: You Worked hard for your money, now Make Your Money Work for You!
Entrepreneurs are the lifeblood of this country. The sad truth is that most of them are broke. They are brave enough to venture on a journey to experience freedom and create prosperity. It is very critical for entrepreneurs to find out what they truly love to do, what makes their heart sing, what their “WHY” is? This is the must because in their darkest hours, they can remember why they started their businesses in the first place.On top of that, they must master their mind and master the mechanics of money creation through effective marketing and sales.
Let’s assume that they are past that stage, that they are making a lot of money on their businesses, what do they do with their money? How can they grow that money? How can they create long term capital growth that can sustain them when they retire? Unless they are planning on working until the day they die, they need to create a plan for the future and a plan to leave a legacy for future generations.
As a financial planner for Managed Wealth Financial, I have helped my clients create long term financial growth by leveraging the financial market and the insurance industry. Making money is great, would it be great to figure out how to have your money work for you instead of you working for your money. You could be compounding interest as you sleep and create a better financial future with Active money management and other investments strategies that can leverage time and interest for you.
Do you know about the rule of 72?
In finance, the rule of 72, is a is used to estimate an investment’s doubling time. The number 72 is divided by the interest percentage per period to obtain the approximate number of periods (usually years) required to double your initial investment. If you know how to leverage this you can find investments that will produce more money for you than depositing your money in the bank. Guess what? The banks know about this and they use your money to double their investments and pay you a very low interest rate between 1-5% or even less.
Here is an example: Initial Investment: $10,000. Bank gives you an interest rate of 2%. Rule of 72 states that it will take: 72/2 = 36 years for your money to double. It will take 36 years for your money to double! After 36 years you will have $20,000!!!!
During that time, here is what the bank is doing with your money. The bank invests your initial deposit of $10,000 at a higher interest rate to get better returns on your money; they would invest it on a fund where they can get 12% interest for example. Now 72/12 = 6 years, so they will double your money every 6 years! Wow!
What this means is that they will get $20,000 in the first 6 years and that money will double every 6 years. Let’s say you gave your money to the bank for 36 years. By the time you get to year 36, they will have $640,000!!!! With the interest rate they promised you, they will gladly give you $20,000! Realize that they made $620,000 with your money!
How can they do it? Because they are educated, they know how to find funds and lucrative investments that would yield them a ton of money leveraging the rule of 72.
The challenge that I have for you is to get educated.Find someone who coach you. We help our clients create their create wealth creation map base don where they are and where they want to be so that they can powerfully invest in themselves and in heir future.
PS: Always do your due diligence before investing, all investments are risky so you must educate yourself on the correct plan of action that you want take to create wealth.
About Author: Marieme Faye is the Wealth Creation Coach for the Evolutionary Women Entrepreneurs who are ready to breakthrough their financial limitations and create true wealth standing in their power, living their purpose and creating possibilities.
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