I'm looking to turn 1 million USD into 3 Million. Any suggestions on what types of investments to avoid?
Recently inherited a decent sized sum of money and I'd like to avoid losing it all.
Answers | 7
Making money as an investor takes experience, diligence, discipline, self-awareness as to one’s goals and risk tolerances — and, most of all, time. If you truly want to turn $1 million into $3 million, it’s going to take time. I strongly recommend that you begin your quest to triple your money by seeking the advice of experienced investment professionals who have produced these kinds of results often in the past and who are not peddling short cuts.
On $1 million, well at a market rate of return this will double to $2 million in ~14 yrs. Any Investment manager with average intelligence can get you a double in less than 10 yrs.
Questions for you:
1). Are you wanting to invest the money yourself?
2) Are you wanting someone like myself to invest it for you?
I can help you with both. Obviously, I will invest your money through discretionary authority and you will invest your money using your own authority. Always do what is in your best interest. As a fiduciary, I always do what is in your best interest.
In Investing, just like in any relationship, 3 qualities are required;
Now we can discuss intelligence & energy until infinity. I trust we both agree that without integrity, the other two can wipe you out easily.
Send me a message to discuss. Together we can determine your number which is how long your income will exceed your expenses. No obligation
It's not what you make, it's what you keep that determines your lifestyle.
I have been an advisor for 25 years and if it were my money I would avoid illiquid investments and any get rich quick recommendations. Trying to triple your money in a shorter time frame will likely lead to losing your ______.
I would interview several advisors and then hire one who works off a plan and for a fee rather than a commissioned sales rep or someone recommending products.
I would make sure that advisor could provide you a plan that provided a defensive component. Not something generic, but very specific. If the markets do x, then your funds will be managed this way...in detail. All markets go up and down, and in my opinion, one of the best ways to multiply your investment over time is through an excellent defense so you are not giving back all of your gains when markets go south.
My website provides information on our strategy if you'd like more info or wish to set up a call.
You can also send a message through this forum. All consultations are complimentary and confidential.