We hear it all the time. “If I would’ve invested $10,000 in Amazon 10 years ago, I’d be rich today!” Whenever I hear somebody say that I immediately think: “why didn’t you (or I) make that investment 10 years ago?” Chances are, at that time, you didn’t do it because you thought it was too risky. But why did you think that? Not because you weren’t confident that Amazon wouldn’t succeed, but most likely, it was because it was the only money you had at the time. In one of my recent posts I talk about how having multiple income streams is the best hedge you can have against market volatility (or even ups and down in your personal or professional life). The same goes for de-risking your investments. Think about it. If you have a few different revenue streams in addition to your 9-5, don’t you think you would be more likely to invest in a great company that has growth potential? With a steady stream of multiple revenue sources, investing $10,000 in a company like Amazon won’t seem as risky which will, in turn, enhance your future returns.
Recent Comments