This is the time to turn everything you’ve learned into money. The use of the Simple marketing formula is important now.
After earning his first million, Tio Scrooge decides to open his first company. What would most people do when they got their first million? There are three options:
- The vast majority would spend (and in a very short time they would have no more money).
- Some would put it in savings (to save that money and have a small income).
- And hardly anyone would reinvest it.
- And that’s exactly what Uncle Scrooge did.
He took all his combined capital in 29 years of life and created a company. Scrooge reinvested that money, risking it in the market. Tio Patinhas’ first company was a bank after this initiative, many other companies in various sectors were founded. If Uncle Scrooge had been very conservative and put every coin in the safe at this point, he would still be just a millionaire (not counting inflation).
If Scrooge had spent it all, he would have ended his future too
So, do you already have Uncle Scrooge’s rich experience and the first capital to open a company? Think about this possibility and start your own project.
Do you know how much is your average monthly cost? This is a very important number. After all, after reaching your maximum earning potential, the only way to spend more money is to spend less. If your credit card bill is always a surprise to you, it’s time to learn how to save. Scrooge Uncle is a great example of sting. He knows the value of work and is not afraid to invest, but the richest duck in the world did not become rich without reason, as he does not waste. So, save money. It is from what you save that you will have capital to undertake, study or invest in financial assets yourself.
Invest your money
In a scene in the story of Uncle Scrooge, a character asks him if all his fortune is in his safe. Uncle Scrooge responds negatively, saying that there is only a small part of his money there. Most of Patinhas’ assets are invested and bringing returns.
So, if Uncle Scrooge himself invests, why do some people insist on wanting to save money in savings that is equivalent to leaving capital at a standstill?
The first step in investing is to study about investments. Therefore, we have prepared a series of basic articles for you to be introduced to this world:
- What Compound Interest Is and How to Get Rich
- The Fixed Income Guide: What It Is and How It Works (+ Simulator)
- Investment Funds: What They Are and How to Invest
- Stock Guide: Concept, Price, Market, How to Buy
With these guides, you will know the basics of investing and be prepared to start making your money work for you.