A lot of people ask me how they can become wealthy, as if it’s a secret. Creating wealth, and I mean real wealth, has been around since man first had some form of currency. By following age old ideas and concepts you too can become wealthy. The next three blog posts will be devoted to ways and strategies that I have personally implemented. You can rest assured that I know they work from experience.
The first strategy, which again, is not new, is a sure way to get to a billion dollars. I know what everyone is thinking; yeah right! Its true, its simple and this is how it works. Doubling your money can be done in many different ways, it is up to you to find out what you are comfortable with and what really works for you. I will share with you two different strategies that I have used and can work for you.
Interest Strategy – Doubling your money can be easy to do, but sometimes very time-consuming. The Rule of 72 is an investment rule stating that in order to find the number of years required to double your money at a given interest rate, you divide the compound return into 72. The result is the approximate number of years that it will take for your investment to double. What does that mean, for example, if you have an investment that is returning an investment rate at 6%, it will take 72 divided by 6(not 0.06) or approx. 12 years to double your money. With a small uptick in the interest rate that years come down, for example, an interest rate of 8% will take (72/8) 9 years to double your money. The most common questions after my clients hear this is, where do we find something that doubles our money every 9 years? At Young Realty Capital, we have formed a fund that does just that with the investor in mind. We have an annualized rate of return anywhere from 8-10% return, making you able to double your money every 9-7.2 years. To find out more information about the fund please check out our investment strategy at www.youngrealtycapital.ca .
That’s a great idea, and very simple, but like most people today, we want things done faster, 7-9 years to double my money seems like a very long time. If you think about it, if you start investing when you are 20, you can double your money every 7 years, by the time you retire (average retirement age 65) you will have doubled your money approx. 7 times. For the patient investors this will be a consistent and manageable task. For the investors who need an investment that doubles faster or at a higher rate, the next strategy is for you.
Real Estate Strategy – This strategy has been implemented by me and hundreds of my clients over the years. We have refined it at Young Realty Inc. and we have taken the thinking out of this strategy for you. How have we done it. The average investor starts with zero money to invest and starts out small. If you are starting with more than zero, you are well ahead of the game. The Real Estate Strategy is as follows. If you invest in 1 condominium/home, and sell when you investment has doubled, you can easily double your money in 1-2 years, and in real estate, especially Toronto, the returns are huge. Once you have doubled your money with your first property, you then buy 2 properties, and once that is doubled, you sell, buy 4 properties, etc. etc. Seems simple, but most people don’t understand the concept, and most investors tend to get greedy and don’t want to sell once their investment has doubled, they see that the market in upwardly trending and say, if I just keep it for a little longer I will make more money. That is not the strategy, the difficulty with keeping it for as long as you can to try to squeeze out every penny in the investment, it will take too long and you will be better off to go for the Interest Strategy that we discussed earlier. This strategy and details on how to do it are expanded upon at Young Realty Academy, and we encourage you to come out to our investment network each month to discuss how we can help you out.
The simple doubling to a billion strategy is so easy, yet most investors don’t go for it. If you started with 1 dollar and doubled it 31 times, you would have a billion dollars. And along the way, you would have 1 million dollars after just 21 easy steps. Don’t believe me, check out the graphic below, you will be amazed at how easy it is to become wealthy, great speaking with you and I look forward to seeing you out at our next Young Realty Academy event.
Dollar Amount, Starting with 1 Dollar and Doubling:
Just over $1 Billion in 31 easy steps. Contact us today to find out how you can achieve your dreams, 416-913-1089 or firstname.lastname@example.org