Investing Your First 10k Challenge Step By Step
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- เผยแพร่เมื่อ 16 ก.ย. 2024
- My grandma always said, it's not about who has the most money, it's about who does the most with what they have. And I didn’t understand until later in life, I saw people that made double or triple what I made but didn’t have anywhere the amount of money that I invested by being frugal.
So in this video, I’m going to teach what I did to invest my first 10k which is also the same thing that I did to invest my first almost 300k ( the rules change ).
Just so you know, I don’t do anything fancy with my investments, I like keeping things simple, and the investments I make are for the long-term, I don’t take much risk and make around 10-12% annual from these investments (nothing crazy its all boring but it works )
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1. Lifestyle Junk
-The first challenge is to look for money to invest in your current lifestyle
-I did this very simple rule whenever I wanted to see what a bill was really costing me
-I would find out how much it would cost me annually, and then how much it cost me to make enough from stocks to support the bills and then I would decide if it was worth it or not
For example:
-Let's say I was spending $20 a week on haircuts, aka $80 a month and $960 a year
-Then you multiply it by 25 and it gives you $24,000 invested to make enough to cover the bill
-So once you do this math you become a lot more aware of the money you spend
And you can save thousands
-By becoming debt free
-By cutting down on bills
-And just being more frugal ( which means you’ll need invest less )
2. Take it from the Main Check
-My life changed when I decided that part of all I made was mine to keep
-I started out with 10% I think it was back them
-Then I increase it from 10-20%
So the when I get paid:
-The first account that I send money to is my investing account
-Its like taxing myself for the future
-And if you make $4000 a months, that’s 400 a month
-And to get to 10k if you invest 10%,, it’ll take a little over 2 years
But its just a start
-30 years of investing like that
-Will give you balance 875k
3. Create a Check for it (side check )
-A lot of people try to get a side hustle to help them pay a bill
-But what if you just a side job to help you invest
-Imagine you used one check to live and then you had another side hustle and you invested 100% of that money
For example:
-At one point I had 2 businesses and 1 job, my job provided me with cost of living and capital for my business
-But my business provided with money to make more money
-Eventually those business replaced that job and were able to provide for me and also keep growing and investing
Remember:
-The stock market is one method for investing and growing your income
-But there are other forms of investing, real estate, career or even started a business
-The goal would be to start with borrowed money so you don’t go crazy in debt
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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I'm an Accountant but I'm not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.
Good content and you have a lot of knowledge on this topic. Diversifying your portfolio is the best way to stay afloat in this current economic mishap. I advice my friend and colleagues to invest in Bitcoin and other cryptocurrency as it have been profitable for me in the past and present you just have to work with the right coach, Is it a good time to invest in bitcoin? I believe it is. Bitcoin means investment. It means opportunity. It means prosperity. It means financial independence. Trading with my mentor and professional trader Thomas Fuller have earned me over 14 BTC in profits, highly recommended to new investors. Historically, fortune favored the ones who invest in thought moments.
I'm surprised you are talking about Mr Thomas. His strategy and signals makes a lot of sense and how he describe it is easy to follow.
My colleagues at the office also referred Mr. Thomas to me, he must be the best trader at the moment.
Bitcoin is on the right track for traders because they profit from the price swings, I think I'm going to start trading pretty soon
Most reliable trader I've ever worked with, thank you for sharing so others can benefit from his good service.
10K. Thank you Tommy.
Where can I find a car for $3k or less. Need it as a hustle car for 2023?
@@Gwozozoray It's All scam; I tried!
10K. This was such an incredibly helpful video and so inspiring. I have a lot to do to get to where I need to be since I started late in the game. But thank you for all these helpful tools!
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Thanks for your content Tommy
You are the best thank you!
Thanks for leaving a comment, hit me up for more insight
10k thanks bro!
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10K because I stayed all the way!
To obtain financial freedom one needs to be a business owner, an investor or both, generating passive income, particularly on a monthly basis.
l agree with you and believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don'tBknow who agrees with me but either way I recommend real estate or crypto and stocks.
@@LisaRomero. Yeah!! It would be more beneficial and yield more profit if you actually trade on cryptocurrency, I've been trading since the dip, I've made so much profit trading.
I am interested to know more and invest in Crypto please 🙏
@@Larry_Swanson580 It is not advisable to trade with your IQ, Well I recommend Mrs Camille Anne Hector! She's the people best teacher and also my mentor.
@Kiara Florence I'm very sure! She's mostly active on Wat's Apk' messenger with her details below....👇
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Which site is good for stock investment
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I just spoke him on insta hh crazy
10k. Always enjoy your content.
✔️10k
Great break down very clear and precise.
10k hey tommy I would love to talk to you 💯
10K. Tommy thanks for always providing actionable financial guidance!
Tommy you are the 🐐🐐 ever since i subscribed to u i have a better understanding to investing and also my accounts are looking great for my first year
Be the first to invest 10 k
Step 1: drive to the casino.
Step 2: bet 10k on red.
Step 3: profit.
On instagram you told me to invest in BTC and you only invest in the 500 comenies im confused
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