If you’re like many people, you may have no idea how to start investing if you have $10,000 or less to your name. Up to this point, you’ve worked hard, earned income, and saved a stash of cash. But is the money you’ve accumulated truly enough to start investing? And if it is, where and how should you invest it in order to get the highest return?
Today, I’m going to walk you through exactly what to do if you want to start investing but don’t know where and how to begin. Put these tips into practice and you’ll be well on your way to growing your earned income, building passive income, creating wealth, and even achieving financial freedom!
How Do You Start Investing With $10,000 or Less?
Anyone who knows me very well is probably thinking that they already know the answer. Since I’m a huge proponent of real estate investing, becoming an entrepreneur, and growing passive income, your first thought might be that I’d recommend starting to invest with real estate. But is that where you should start investing with $10,000 or less? NO!!
First of all, investing $10,000 into real estate won’t get you very far. And, it wouldn’t be a smart investment since real estate requires significant capital to not only purchase but also maintain.
So, where do I recommend investing? The answer is simple: Invest in YOURSELF!
Now, what does that mean exactly? It means that in order to build wealth, create passive income, or achieve financial freedom, you have to start by growing YOU. When you become more and do more, you attract more – more clients, bigger business, higher income … you get the picture.
For me, investing in myself meant hiring a mentor, a business coach who could show me what to do and how to do it. Today, I offer the same service through my online business coaching – helping other entrepreneurs do exactly what I did to grow and scale their own businesses so they can become more, do more, and get more.
How to Start Investing: What to Do and What NOT to Do
Life is so much easier when you can learn from other people’s successes and failures. That’s why I want to share a couple of investing tips with you that I learned when I first started investing:
- DO invest in yourself – start a business, hire a coach, use your talents and skills to become more and do more
- DO grow your earned income – the more you earn, the more you’ll have available to invest
- DO think like an investor or entrepreneur – you want your money to work FOR you
- DO believe in yourself and picture what success looks like for YOU
- DON’T start investing with stocks, real estate, or cryptocurrency
- DON’T think like a saver – you’ll never be able to save your way to wealth
- DON’T think that building wealth is impossible
Now, I want to be really clear about one thing. I DO believe that investing in real estate is a serious way to build wealth and achieve financial freedom. I just DON’T believe that it’s the first place to start investing when you have $10,000 or less.
Get the Wealth-Building Blueprint
If you want even more details about how to get started with investing, watch this video: How to Start Investing with $10,000 or Less! Here, I walk you through the exact steps I took to help me grow from a broke dietitian into a successful real estate investor earning over 7 figures of income each year.
Then, if you want to take your wealth-building goals to the next level, check out my book, The New Rules for Financial Freedom. You’ll learn how to make, manage, and multiply your money so you, too can live life on your own terms!