How To Build Your Financial Portfolio Using Little To No Money
Updated: Jun 4, 2018
75% of individuals in the world don’t have a financial portfolio and this is the main reason why most people will never be financially free to do what they truly want. I know for a fact that no one enjoys waking up everyday at a time in which they don’t enjoy, only to go and clock in to someone else’s business making the people their working for dreams come true and not their own.
If you are not sure what a financial portfolio is, here is a simple definition from investopedia.com that will help you better understand: A portfolio is a grouping of financial assets such as stocks, bonds and cash equivalents, as well as their funds counterparts, including mutual, exchange-traded and closed funds. Portfolios are held directly by investors and/or managed by financial professionals.
In simple terms a portfolio is something (Asset) that you invest into which puts money into your pocket
Before I get into How You Can Build Your Financial Portfolio Using Little To No Money I would first like to understand the most important keys to investing which is to know the difference between an asset and liability.
Asset- An asset puts money into your pocket. For example: if I buy a property for $30,000 and I put a tenant in the property that pays me a rent of $1,000 per month would be an asset to me because I receive monthly payments from the tenant.
Liability- A liability takes money from your pocket. Lets use the scenario I used to explain what an asset is. The $1,000 that the tenant pays me per month is a liability to him/her because it is money coming out of his/her pocket each month.
The key is to build your portfolio with enough assets that cover your monthly living expenses or more. We all will have some liabilities but we want to aim to not more liabilities than assets.
So if you were like me two years ago you may not have known where to even start to build my financial portfolio. Don’t worry I will provide you with a few extremely helpful tools to guide you.
What I recommend you do is increase your financial education by reading, taking courses and attending seminars on this specific subject.Here are a few books that I highly recommend and which I have read that helped me get to the point where I now run my own online business, host my own events and which allows me to proudly say that I am a published author.
Highly Recommended Financial Books:
Rich Dad Poor Dad- Robert T Kiyosaki
Cashflow Quadrant- Robert T Kiyosaki
Think & Grow Rich- Napoleon Hill
The Richest Man In Babylon- George Samuel Clason
The biggest problem we face in America is the lack of financial education and if you have financial education you cannot be stopped nor left behind.Remember that it will be a challenge but practice makes perfect and anything worth having will require some effort. So after you’ve read several books and attended different events on the subject of investing you think to yourself now what?
TAKE ACTION NOW Most people think that you need tons of money to invest or be financially free, at least that’s what I thought. In all honesty what you need to have is total control over yourself, your money and the ability to see opportunities that others don’t. Becoming financially free requires a different mindset, so first get yourself to feeling as if you have all the money and resources you desire and overtime you will attract that to you in real life.
Now, here is what you’ve been waiting for… 1. Stocks- If you have a job you could see if the stock and if you could purchase shares. I highly recommend that you do a lot of research before investing into stock or anything, that way you’ll go in confident and make little to no mistakes.Penny Stocks is what I started with and I seen a very nice return per month for about two years before the company closed down.
2. Write A Book- This is what I started off with… When I wrote my first book I was dead broke with an incredible amount of knowledge so I turned my knowledge into currency and so can you. Google how to write and publish a book on YouTube.
3. Start An Online Business- I was at a point in my life where I knew I never wanted to work for someone else again, I like waking up when I feel like it and not having to answer someone. I started my online business for FREE, that’s right I said FREE and in the first two months I made over $1,000 off of the services and products I created with the knowledge I held in my mind.
The main key is to have faith in you… We live in the information age so the more you know the more you can help people and make money while doing it. I could give you every resource I know to investing but the main key is increasing your financial education. The more you know the more you grow! Don’t Allow Fear To Be The Director of Your Life ~ Mecca Freeman