Investment tips that help sustain wealth

It is a common saying among the people from Nigeria’s south-eastern region that “when a poor man is told what it takes to be rich; he would most probably choose to remain poor”.

To be wealthy takes a lot sacrifice, perseverance, determination, and smart works.

However, these qualities is not in any way reserved for the super-rich.

Anyone can become wealthy if he has access to some secret money playbook, and apply the principles therein.

The truth is that a lot of things the wealthy do with their money are accessible to the poor.

Here are some of the most subtly virtuous things most rich people do with their money.

Wealthy people protect their portfolio with precious metals

Since the Covid-19 pandemic, it is obvious to everyone that disruptions to the market can come out of nowhere. From 2020 till date, the supply-chain issues and bear markets has caused a lot of people’s retirement savings plummet. That’s why it can be a smart idea to look for ways to protect your retirement savings from the unpredictable.

For a lot of people, investing in precious metals such as gold is a way to diversify and protect their investments.

Experts believe you can diversify and safeguard your investments by adding gold and silver to your portfolio.

Wealth people use a financial advisor

Sunny Ojegbase, a renowned Nigerian businessman, and business magazine publisher once said; “The best way to take a business risk, is to take an informed and a calculated risk.”

A fact is that wealthy people did not get rich by mistake, rather they knew how valuable it is to get an expert’s help with their money.

However, most poor people think getting a financial advisor sounds expensive and tedious.

Wealth people don’t wait for payday

Wealthy people do not wait for payday, rather they make sure they access to money through various means.

Having access to your paycheck without having to wait until payday can make a big difference in your daily life.

Wealthy people know one can get paid for used property

You do not have to be rich to have some old jewelry. Chances are you have got something lying around that you do not wear or use anymore.

If you can do away with the usual Nigerians’ throw-away mentality, you can consider selling them.

We have firms that specialize in such a business like the Declutter & Thrift Marketplace in Nigeria. Such companies want to buy your old gold, silver and platinum jewelry, kitchen utensils and many others.

Wealthy people know you can become debt-free

One cardinal trade mark of the poor is debts. If you carry debt, you know how overwhelming and isolating it can feel, especially if you are facing financial hardship.

Experts believe one step to becoming wealthy is to become less in debts. You can arrange and meet with a debt specialist and discuss with them about your situation.

Besides, learning to live with your resources cannot be overemphasised. You live to impress anybody, because when the chips are down, you are the one to face the economic crunch.

Many wealth people invest in real-estate or other profitable businesses

Cultivating the habit of investing is pivotal to navigating one’s way out of poverty.

Experts argue that investing in real estate has always been a way the wealthy earn passive income.

You may not be able to own a building at a go, but you take advantage of many real estate firms coming up with monthly investment plans. You may not even have to be a landlord, you can become a vendor and earn your commissions.