Invest in the “New”. Invest in weird. Invest in things that may not fit what you would call normal. These are the investments that will be life-changing. A savings account is prevalent and will also have you losing money because it’s so common. There is no money to made making 1/10 of 1% on your money. Inflation alone will have you losing money. The opportunity cost will have your “loses” reach astronomical levels.
Let’s say on March 16th of last year you had $5000 you were looking to invest. You could have put it in a bank account and made $5 for a total of $5005. You could have invested in a high-yield dividend stock that pays 8% ($400) for a total of $5400. There is a chance you would have invested in an up-and-coming electric car stock Tesla. At $89 on March 16th, 2020, and closing at $692.99 on March 12th, 2021, that’s a 778.64% increase for a total of $38,932.02. Yes, that is awesome. What if you wanted to embrace the “new” and invested in Bitcoin? That was $5052 on March 16th, 2020. As I write this, it is $59,750. That is 1,182.69% in 1 year.
Was crypto too risky? Did 100% electric cars not sound reasonable? What if dividends stocks made you uncomfortable because you were putting your hopes and money into the success of a mysterious company? Well, then you left that money in the bank and it cost yourself somewhere between $200 (inflation loss) and $54,000 (bitcoin opportunity cost). Ouch!
It is hard to invest in the “New” and, no, not everything will work out like the bitcoin example but, this is what it takes to make your money work for you. Risk is number one. There is a good chance you’ve heard of a show called Shark Tank. If you haven’t, it involves people with businesses pitching their business to successful entrepreneurs. The pitchers hope to receive capital, partnership, and lines of credit. In exchange, the “sharks” get equity in the person’s business. All of these ideas sound like a stretch. Just as stocks, crypto, or anything outside of a bank sounds to you.
Bombas(socks), Scrub Daddy (Reusable Sponge), Squatty Potty (Toilet Stool) have reached over 100 million in sales. They were all on the show. Investing may sound risky but, about only one of every five businesses the sharks invest in turn a profit. The hits more than make up for the misses. There are also other “misses”. Ring, a video doorbell was ignored by all sharks. “Ring” went on to sell to Amazon for a little over 1 billion dollars. Investors in this crazy idea made a killing. Do you want to be the person who skips out on a Ring video doorbell opportunity? Of course not. So, how can you get in the game?
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Getting in the know will take a lot of reading. You must read up on all opportunities. You’ll need to watch a lot of videos to increase your exposure. You’ll need to hear views both for and against the next opportunity. This studying will enable you to make the best decision for you. You must understand that each investment is your choice and can result in losing all the money you invest. There are cheap stocks that have plenty of value. They are usually short of one item.
It could be money, notoriety, a large buyer of their product, a government contract, etc. The catch is the absence can go away at any moment making the stock price soar. Let’s not forget this lack can also never happen. The same goes for crypto. Welcome to the wonderful world of investing. Getting into the game is reasonably effortless. The wearing part upfront will be giving all of your private information to the brokerages and crypto exchanges you decide to use. It can feel sketchy. Try to stick with the well-established ones if you can.
In closing, investing in the “New” is what will change your lifestyle. It will boost your net worth. In addition to the new money, this will also open your mind to new things allowing you to take a chance on the next crazy idea. Just think about Apple. Apple is a 2 trillion dollar company with a 121.07 stock price.
If you invest in Apple today, Apple would need to become a 4 trillion dollar company to double your money. That is not likely in the immediate future. Buying into a 100 million dollar company with a 2 dollar stock price would be a better method. That small company going from 100 to 200 million dollars can happen in a month. It is not “the norm” but wouldn’t shock the world either. Get in the game. Learn for yourself. It’s the most reasonable path to financial security.
Food for thought…You do the Dishes.
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