Business
How To Make Your Money Make Money - Ben's Business Podcast #97 Here's some of Naz's key lessons he shared: - there is no way to get rich quick - save for the future - don't put all your money in the bank - study the habits of the wealthy - save/allocate your monthly income with a formula 60,20,10,10 etc - If I had 5,10,15-20k, I'd invest in index funds via Vanguard or Black Rock. - Look at a Lifetime ISA and speak to a professional, I'm just here to make you aware of what's available to you (21mins in the video) - If you put money into investment platforms, make sure you choose one with 85k savings protection, and they keep your money separate from their money - invest in dividend-paying shares - if I want to invest in companies, I choose companies I know, use and love. Or, I trust in them being open to evolving. - think like a producer, not a consumer - don't put all your eggs in one basket - I feel its better to invest in stocks than in property in the UK. - if you spend money, use a credit card and always get cashback - get rewarded by banks for opening accounts with them - if you have a lot of money and are interested in investing in companies, look at EIS/SEIS. - always have a budget in life as a benchmark, don't be a prisoner to your budget and don't feel bad about it - Top 3 easily digestible financial education books to read. If I'm going to invest in other companies for the future, I look at how the world is shifting. I state there is no way to predict the market and I'm not the smartest guy. I choose to invest in companies for the future if the company and their offering is a) politically acceptable b) socially acceptable c) scalable c) environmentally acceptable/good for the planet