Photo Credit: Sigurd Vedal Where should you be investing your money if you want to make millions? Sigurd Vedal shares the secret to success.
Deciding where to invest extra income requires careful deliberation. Making the wrong investment could cost hundreds of dollars, if not more. If someone invests in the stock market and loses their money, they’ll be a part of the 90% of investors who lost their money in the market. With the chances of failure so high, many people ask investors where they should invest first: should it be in stocks, real estate, startups, or something else?
A serial entrepreneur who invests in tech startups and real estate says the best investment you can make is investing in yourself. The advice may sound dreamy and romantic, but for Sigurd Vedal, it’s advice that works.
If you have some extra cash, you should take that money and invest in knowledge. Fast or easy money is a fictional concept; if you want the money that lasts and sustains you through the rest of your life, you’ll need to invest in something worthwhile, such as your own talent.
Now is the time to use your money to pay for business classes and finish that degree, or use that money to buy the equipment you need to record your own album. Alternatively, start that business you’ve always dreamed of running. For Sigurd Vedal, the most critical investment he’s ever made (and will continue to make) is increasing his knowledge every morning by learning something new. This routine has allowed him to make connections online and start and grow several online brands. There are so many doors that open when you work on increasing your knowledge.
As you grow your knowledge, you’ll also want to find the right job. Of course, everyone needs to make money to live, but if you’re in a position that you can’t see yourself in for years to come, you need to get a job that will lead to several opportunities. Sigurd Vedal worked in the music industry before taking the chance and switching to radio and television and then mentoring. Now, he owns several coaching brands that help billions of people improve their lives and businesses. Even if you must start at the bottom, being in the right space can increase your skillset. Eventually, your monthly income will grow.
The best way to increase your income is by not being afraid to make changes in your life. Sigurd Vedal says, “Change is growth, and you can’t achieve anything in this life by staying within your comfort zone.” In order to see strong returns on investments, you’ll need to take a chance on change. Leave that company you don’t see growth in. Register for marketing or finance classes. Dedicate time to reading news articles in an industry you are passionate about. With time and hard work, you’ll eventually be able to make money doing what you love.
Not only do you need to find the right job, but you also need to commit to it. Give it your all. Don’t settle for being average. Instead, be a top performer. If you are genuinely passionate about your work, it will be second nature for you to do your best. No one successful has given it less than their all.
In addition to investing in your knowledge and skillset, Sigurd Vedal recommends having multiple streams of income. He tells entrepreneurs that they can’t rely on just their job to bring in the income they would like to see. However, he cautions against throwing money at the first opportunity. Be wary of following a herd mentality, which is when you invest in an opportunity just because others are doing it. You must brainstorm and research sources of income that align with your skills and knowledge. Over the years, Vedal has built up 16 online companies, and from this experience, he’s learned a great deal about the tech industry. Now, he can see high returns from seed investments in tech startups.
Making profitable investments starts with investing in yourself. Work toward gaining a source of income that you are passionate about. If you work a job that doesn’t feel like work, making money will be no big deal.
This isn’t to say you shouldn’t make investments in stocks, real estate, or other areas. In fact, Sigurd Vedal encourages entrepreneurs to invest in areas in which they are knowledgeable. That’s the key to investing: build your knowledge daily so you can make sound decisions. Once you do this, you’ll be able to answer the question, “Where should I invest?”
For more information about Sigurd Vedal and his journey as a serial entrepreneur, check out his website and follow him on Instagram for more investment and business tips.
Haute MD
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