Money Q&A: Stop Saving, Start Investing and Put up Your Rents!
Living below your means and saving small amounts isn’t very good advice; the impact you will make is limited. What you should be doing instead is focusing your time and efforts on generating more income. Listen in to this episode with Rob to find out why and how you can ride out this tough economic climate whilst he answers so popular questions from the community too.
KEY TAKEAWAYS
When investing, consider the risk involved. If it’s your only money to invest, ensure you diversify more. 5k-50k put 5-10% in bitcoin, 10-15% in gold, 20% in the stock market spread, 10% into good watches, 20% into scaling a business and 30% in real estate. Investing abroad is complicated and generally makes you less profit. In the short-medium term interest rates will push mortgage prices up but eventually, things will correct themselves and they will begin to come down alongside property prices dropping. Rents have to be put up now or you will be unable to when you really need to. Don’t trap yourself. Don’t buy digital gold, the point of gold is that it is tangible and real. Store it somewhere away from where you live like a safety deposit box.BEST MOMENTS
“I do get recognised 2-3 times every time I go out but I’m not Tom Cruise!”
“Would I invest in properties abroad? Absolutely not”
“You absolutely have to put rent up”
VALUABLE RESOURCES
For access to Rob’s FREE toolkit including video training and resources, head to bit.ly/robtoolkit
bit.ly/Robsupporter
ABOUT THE HOST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”
“If you don't risk anything, you risk everything”
CONTACT METHOD
Rob’s official website: https://robmoore.com/
Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs
LinkedIn: https://uk.linkedin.com/in/robmoore1979
