Am looking to double or triple my money within this yr, which type of investment you can recommend? Or 20% +ROI. Thx
Many of us in the financial services arena are frequently asked question like this as though a secret universal product or strategy existed that would resolve anyone's/everyone's financial problems. It is important to understand that there is no "one-size-fits-all" product or strategy that is suited to everyone's unique situation, objectives and goals. Asking this kind of question will result in very generic and "safe" answers that are tailored to your financial status, and risk tolerance from those seeking to sell you on their product. These answers are rooted in the stock market in the form of mutual funds and insurance vehicles with histories that do not guarantee future results. Past behaviour does not equal consistency, or guarantee future results. Understand that financial advisors are constrained by law to advise and sell you products deemed as "safe" investments, by the FTC (Federal Trade Commission), for your net worth and income level.
That said, it is not unlawful for someone to teach you the different kinds of investments, and investment strategies used by high net worth investors to achieve and maintain their wealth. This would be perhaps your best investment opportunity as you would be investing in knowledge and more importantly yourself. While I believe this to be the best investment any person can make it is not suited for everyone. You have to ask whether or not you are the type to apply the knowledge you obtain through this investment. If you fail to implement and act upon the knowledge you obtain, your ROI will be 0%. So you must ask yourself if you are not only willing and able to invest in yourself, but are you willing and able to implement and act upon your new found knowledge? Remember, "Applied Knowledge is Power." By applying the investment knowledge you obtain your ROI will be limited to the restraints you place upon yourself.
I suggest finding several mentors/coaches/consultants that are knowledgeable, experienced, and competent in the areas of "Life," "Entrepreneurship," and "wealth." Why these 3 areas? because these 3 areas directly impact each other, focusing on 1 and neglecting the other 2 yields negative results. Just as focusing on 2 and neglecting 1 also yields negative results, all 3 must be focused on equally in order to yield positive results. Trying to separate the 3 will also result in negative result, as they are like 3 cord rope. If I can be of further help let me know. | 01.21.16 @ 03:37