I'm beginning to think the only way to get ahead wealth wise is to load up to your eye balls in debt and purchase property.
I see using your own money to buy shares and quite a slow way to build wealth. Because I'm only controlling the amount of money that I can save. e.g. I save 10k per year and invest in shares. They go up 20% and I make 2k.
I use my 10k to buy 50k worth of property. It goes up 4% and I make 2k.
What is more likely to happen, my shares going up 20% every year or property going up 4% a year?
However, the only way I see getting into property is to negative gear! I'm not a big fan of this, topping it up and hoping for the price to go up.
How can we win? I'm assuming Tyler is in his early 20's like myself.
Your right.
Problem is you have to get your timing right or you will lose the lot.
In my book there are 3 ways to accumulate more wealth than you
Need.Only a few % of people will ever achieve this.
#1 Your own business ( turning over more than $3 mill )
The deli,coffee shop,lawn round won't do it.
#2 Trading ( with enough capital to purchase a house / $ 200 to
$500 k minimum)
Loading up leverage with CFD's won't do it either.
#3 Property with at least 2 IP's.
Bank loans won't do it either.
A handful of cash like a lottery win won't guarantee longterm success either
Many lose the lot.
95% of businesses fail in the first 3 years
95% of traders fail
Property can fall or stay stagnant for years.
There is light at the end of the tunnel
It takes patience.
There are clear times to enter all of the wealth creating vehicles
Given the original posters age they will see many of these times.
You will need to learn how and what to identify and how the place yourself in the position to take advantage of the opportunity when it presents itself.
It's these
OUTLIERS that will make your investments truly succeed.