image taken from xkcd
There have been a lot of fuzz lately about ICO’s, some of my friends losing money, other people asking me where to invest to. I’m in no way a financial adviser — I’m just a simple computer geek. So take everything I write next with a grain of salt (well, hopefully you treat all information like that). But I will allow myself to turn on my survivorship bias and tell you how i managed not to lose my money and in some cases even multiply them.
If you don’t have a 100 000$ that you can forget about for 5 years — then don’t bother investing into anything or anyone. Invest into yourself, figure out how you can get those 100 000$. For my own personal enjoyment i’ve been researching how other people became those Sub High Net Worth Individuals.
To sum it up. Here is something I consider doing:
Figure out how to earn more
Usually that means asking for a raise at work, but that’s not the only option. You can start a side gig, you can optimize your taxes. But my popular option is investing into my own skills.
Saving money is like earning them
Do you really need two cars in your family? Do you even use all that space in your huge apartment? Maybe you can dump all that and move in to country with less expenses?
Make sure not to lose everything you have already
Only one word here — diversify. Buy assets, precious metal, store your saving in different currencies, different banks and even different countries.