Tuesday, September 26, 2023

Tips to invest money wisely in 2022

Do you want to invest money in certain industries? Well, we have a very interesting guide on this. We will give you particular tips on how to stay in a good situation during the investing campaign. You can invest in bonds (stocks, etc.) or the industries (opening a company) that are thriving. For instance, the CBD industry is growing big in Canada and trusted companies like TopShelfBC are delivering HQ products straight to the doors of Canada’s residents. You can either invest in these types of start-ups or stocks.

Don’t trust the banks

The problem of the asset management industry is therefore that of having an enormous conflict of interest. They are oriented exclusively to the sale, and not to really look for the best tool for you. If you really want to put yourself in the hands of these institutions, my advice is to get at least one culture and study independently what is the offer of the various banks, so as to choose at least a truly tailor-made tool for you, as far as possible.

ETFs, bonds, stocks, real estate and the like – they’re just financial instruments!

What do I mean by this? Going back to the previous point, if you have decided not to rely on various institutions but to manage your assets independently, this does not mean that by buying bonds or shares or anything else you will have solved your problems.

In fact, you can choose a wide range of tools that must be instrumental to your goals. You can’t think of randomly catching them and stuffing them into your wallet to be okay.

You must therefore understand how you want to invest money, for how long, with what risks and towards what objectives: to use tools you need to know what to use them for. It would be like you going to the gym to get the turtle and then decide to use weight. You are using the wrong tools for your goal.

Grasp the difference between wealth and income

When you invest, you invest to grow your assets and you are therefore not looking for a source of income, but a patrimonial wealth. If you have no money there are no investments that are right for you. You can be interested in investments when you have assets. In fact, when I say I want to live on an income, I mean that I want to have wealth that can generate an income. But to do this you need a very large asset and to have it… you have to work, not invest.