Do you want to learn how to turn your money into more money do you want to Achieve Financial Freedom and live off your passive income if you answered is yes then you are in the right place in this video I will show you how to grow your wealth wisely and live off yourInvestments hi everyone welcome to another video today I want to tell you this story a man sold his car and bought a gold watch he then hide it in a secret compartment in his desk every morning the owner of the watch would open the compartment and admire his preciousTimepiece he felt like the richest person in the world when he saw his watch shine however one of his colleagues noticed his daily ritual and decided to spy on him his colleague soon discovered the location of the hidden treasure and went to steal it to hisDelight he found a gold watch inside and quickly grabbed it when the owner of the watch returned to see his timepiece as usual he was horrified to find an empty compartment in its place filled with anger guilt and despair he started shouting uncontrollably another colleague hearing his yelling andUnderstand standing the reason for his distress offered him consolation by saying there is always a bright side in every situation in life don't give up I suggest that you go and buy a fake watch put it in the compartment and pretend that the gold is still there itWill serve the same purpose since when the gold was in the compartment it was as if you didn't have it since you never wore it or showed it to anyone this story teaches us a valuable lesson about money money is not a goal it's aTool we need to use money wisely and not let it control US money can do three things for us save spend and invest but saving money without enjoying it or sharing it with others can backfire we might lose it or someone might take it from us we need to find a balanceBetween saving and spending so that we don't waste our money in other words saving money without a reason is pointless today I'm going to share with you 18 of the best investment tips that will help you manage your money and live off your income these tips are easy toFollow even if you don't have much Financial education so hit that subscribe button and let's dive in the first tip to grow your wealth and live off your Investments is start with your job have you ever dreamed of quitting your job and living off your Investments of having enough money to do whateverYou want whenever you want of being financially free and happy if so you're not alone many people share this dream but few achieve it why because they don't have a solid foundation of income and savings they don't have a plan to grow their wealth and live off theirInvestments and they don't have a job that they love and that pays them well your job is the first and most important step to achieving Financial Freedom it is your main source of income and your biggest asset it is what allows you to earn money save money and invest moneyWithout a job you will struggle to grow your wealth and live off your Investments that's why you need to make the most of your job and use it as a tool to reach your financial goals don't fall for the get rich quick schemes or the lottery fantasies don't waste yourTime and money on risky or unrealistic Investments don't chase the next big thing or the one in a million opportunity instead focus on building a solid foundation of wealth step by step that's the real secret to Financial Freedom Financial Freedom is not something that happens overnight it's something that happens over time it'sNot a destination it's a journey it's not a lucky break it's a deliberate choice you have to understand that Financial Freedom is a long-term goal that requires patience and persistence you have to realize that there is no perfect investment that will make you rich instantly you might stumble upon such aChance once in a while but don't count on it don't let it distract you from your plan don't let it make you feel regretful or disappointed we live in a world where we want everything now where we are constantly connected online or fomo fear of missing out but building a legacy that allowsYou to Achieve Financial Freedom takes time on the other hand your job is more than just a way to pay the bills it's also a key factor in achieving Financial Freedom throughout your life and by job we don't mean only working for someone else you could also be self-employed orRun your own business whatever your job is we're curious to know how you do it and what you love about it tell us your story in the comments below with that said the most crucial and difficult part of Building Wealth is knowing what you want in the future this means that youNeed to take some time to write down your vision for your life in a few years 10 years and 20 years then work towards it and make sure that each step brings you closer to achieving your vision as Steve Jobs once said your work is goingTo fill a large part of your life and the only way to be truly satisfied is to do what you believe is great work and the only way to do great work is to love what you do the next tip on how to grow your wealthAnd live off your Investments is to save a large portion of your income in order to increase your financial freedom imagine living a life where you don't have to worry about money you can do whatever you want whenever you want without depending on a job or a boss youCan travel the world pursue your hobbies or spend more time with your loved ones sounds too good to be true right well it's not you can achieve this kind of financial independence by learning how to grow your wealth and live off your Investments the question would be how toDo it the key is to save a large chunk of your income every month and invest it wisely in assets that produce passive income passive income is money that you earn without working for it such as dividends interest rent or royalties by building a portfolio of passive income sources youCan cover your living expenses and retire early or follow your dreams but saving and investing is not easy it requires discipline patience and knowledge you have to cut down on your spending boost your earning potential and automate your savings you also have to choose the right Investments thatSuit your risk tolerance and time Horizon one of the best investments you can make is dividend stocks dividend stocks are shares of companies that share their profits with their shareholders every quarter this means that you get paid just for owning the stock without having to sell it or doAnything else you can also reinvest your dividends to buy more shares and compound your income over time dividend stocks are usually safer and more stable than other stocks because they come from well-established and profitable companies by investing in dividend stocks you can create a growing stream of passive income that will helpYou reach Financial Freedom faster now what do you think would happen if you increased your investment amount or invested for a longer period of time please share your ideas in the comments section moving on to the next tip on how to grow your wealth it is essential to know the difference between investingAnd speculating do you want to Achieve Financial Freedom then you need to know the difference between investing and speculating investing means putting your money into something that gives you regular income and long-term benefits for example you can buy a building and rent it out or you can buy shares andGet dividends speculating means betting on something that can give you quick profits for example you can buy a share that goes up after the news and sell it for a big profit or you can buy and sell cryptocurrencies the time frame is also important investing is for the long runSuch as years decades or even a lifetime a common example of investing is to put money into an index fund for your retirement speculating is for the short run such as minutes days or months the risk level is another key factor investing is usually low to moderate risk but remember thatLower risks often mean smaller returns for example a bond that pays four percent interest for 10 years speculating is high risk and high reward a typical example of speculation is to buy and sell cryptocurrencies speculation is not always bad as long as you know the potential dangers don'tListen to those who say otherwise they don't know much about finance and investing but be careful it is much riskier than more conservative options if you rely on speculation to achieve your Financial Freedom you might end up unhappy my advice is to balance your portfolio with both investing andSpeculating invest most of your money in safe and steady assets that will grow over time speculate only with a small portion of your money that you can afford to lose this way you can enjoy The Best of Both Worlds and achieve your Financial Freedom faster and easier now if youWant more information on how dividends work there is a link to a video in the description where I go into greater depth on this subject let's move on to the next topic how to grow your wealth and live off your Investments the risks of speculation letMe ask you a question do you like to gamble with your money if so make sure you only use money that you can afford to lose this means that you should only risk a very small part of your portfolio on high risk trades so that you don'tLose sleep over them it is wise to invest the rest of your money in building a portfolio of assets that will secure your Financial Freedom A good rule of thumb is to use less money for speculation and more for investing a famous person who learned this lesson the hard way is billionaire entrepreneurElon Musk in 2020 musk jumped into the cryptocurrency sector buying a lot of Bitcoin and Dogecoin but when the crypto Market crashed in 2021 many digital currencies lost their value causing musk to lose billions of dollars you probably know that musk the Iron Man of Silicon Valley is famous for hisVisionary Innovative approach but his Venture into the crypto sector was a mistake that cost him and his company's Tesla and SpaceX a lot of money in fact Tesla's net worth dropped by more than 14 billion dollars in 2021 because of the fall in crypto prices this story shows us that even successfulEntrepreneurs lose money because of speculation therefore it is important to heed the words of Warren Buffett one of the most famous and successful investors in history he once said rule number one never lose money rule number two never forget rule number one by the way if you're enjoying the video so far andWant more topics like this comment the word more so I know next comes the importance of not overlooking how quickly your funds can be depleted when learning how to grow your wealth and live off your Investments you need to invest smartly to prevent running out of money don't waste your money thinkingThat your investment system job or company will last forever it is recommended to protect your money and invest it in smart ways in order to ensure a secure future remember that businesses and Investments go through stages and economic Cycles everything has an expiry date in the 2000s manyBusinesses made huge profits by selling digital cameras and camcorders however today it is almost impossible to make a living selling or Distributing these devices as these technologies have been replaced by more advanced ones when you think that your business is a sure success remember the failure of theBig Brand Kodak as an example this should serve as a reminder to never overestimate the importance of careful planning and strategy have you heard of Kodak it was once the king of the photography world but it lost its Crown when it failed to adapt to the digital age itWent bankrupt in 2012 and never recovered today it's a shadow of its former glory this shows that nothing lasts forever and everything can change in an instant we have to accept that life is full of surprises and we can't predict everything even if you have a stable job your financial situation canChange quickly imagine you're a 30 year old person with a decent salary and a comfortable lifestyle you save some money every month and plan for your future but what if things change after a few years what if you lose your job and have to start from scratch maybe youHave to take a lower paying job or you have to move to another city this is your opportunity to make the most of your savings and not lose your money my advice is that if you have some money saved up don't use it all at once instead of spending your emergency fundUse it wisely by investing it smartly the income that comes from this initial investment should help you pay your bills also if you want to get the best results take advantage of the compound interest that grows from the initial investment this process takes time but it pays offThe idea is to invest money when the economy is bad so you have a strong base for the future compound interest can make your money multiply fast and easy creating a snowball effect that helps you build wealth over time does that make sense the next tip on how to growYour wealth and live off your Investments is you may be familiar with the common saying nobody can see the future you have to accept that the future is uncertain no one can tell what will happen next not even the experts no matter how smart or experienced you areYou can't always get it right so don't forget this idea the market is the ultimate judge the market is always right let me share this story to illustrate this topic Alice was a confident investor who had done a lot of research and Analysis she believed thatShe knew the best stocks to buy and sell she ignored the advice of other investors and analysts who had different opinions she thought she could predict the future of the market she was wrong the market crashed and she lost a lot of money she realized that she had been tooArrogant and overconfident she learned that the market is always right and that she had to be humble and flexible she decided to diversify her portfolio and follow the market trends instead of trying to guess them what do you think of Alice's story do you agree that theMarket is always right and that we should be humble and flexible or do you think that there is still room for intuition and creativity in investing your thoughts with us in the comments below the next point on how to grow your wealth and live off your Investments isThe importance of making one's own decisions don't believe everything you hear on TV social media or your relatives about money they may have ulterior motives or just be clueless you need to think for yourself and figure out what makes sense for your financial goals you don't want to end up broke orUnhappy do you the best way to avoid that is to learn more about finance and get some tips from the pros there are tons of books podcasts and blogs out there to help you become a money Master and have some fun along the way additionally when you expand yourFinancial knowledge you can benefit in many ways you can understand the market better and spot opportunities and risks you can choose the best investments for your situation and goals you can avoid scams and bad advice you can also plan for your future and Achieve Financial Freedom let me share this story as anExample of how making one's own decisions can lead to Financial Freedom Terry egioma is a former assistant professor who became a successful Trader and online educator she started trading stocks as a side hustle in 2010 while working as an education director at a non-profit organization she wanted toMake extra money to pay off her student loans and travel the world she learned how to trade by taking courses reading books and watching videos she also developed her own trading strategy that suited her goals and risk tolerance she decided to quit her job in 2017 after making three hundred thousand dollars inOne year from Trading she then launched her own online course trade and travel which teaches people how to trade stocks and make money from anywhere in the world she has sold over 30 million dollars worth of courses and has helped thousands of students Achieve Financial Freedom egoma is now worth over 10Million dollars and is one of the most influential black women in finance the moral of the story of Terry ajioma is that you can achieve your dreams by pursuing your passion and learning new skills she shows that you don't have to settle for a job that doesn't fulfill you or limit your potentialShe also shows that you can use your knowledge and experience to help others and create a positive impact in the world this inspires us to take action and follow our own path to wealth and happiness what do you think of Terry ejoma's story do you admire her courageAnd success or do you think she took too many risks and got lucky how do you plan to achieve your own Financial Freedom tell us your opinion and your strategy in the comments below moving on to the next tip on how to grow your wealth and live off your Investments is your wealthDepends on your own actions not on others there's one thing you should always remember you are the best person to take care of your money don't let a manager an advisor or a representative do it for you don't give them all your hard-earned cash it's much better toLearn how to handle your money yourself and delegate some tasks to different people but always keep a close watch on what's Happening why am I saying this well let me tell you when you run a business you need to know what's going on with the money even if you haveSomeone else doing the math being on top of things can help you spot and fix any errors and make sure everything is okay you should never trust anyone blindly because that could end up badly for you and your future and if they screw up youMight be the one who pays the price like a tax mess that ruins your income the next tip I have for you when it comes to Growing your wealth and optimizing your Investments is you are the only one who can create your wealth and no investment strategy will magically turn you into aMillionaire so don't get tempted by the Allure of a popular course on how to earn a fortune on YouTube or a digital currency that promises to Skyrocket in value you have probably heard the old saying if it sounds too good to be true it probably isAs an investor you need to develop the skill of discerning between reliable and profitable opportunities and passing trends that will soon fade away this will help you avoid a lot of frustration and regret on your path to Financial Freedom so don't put your faith in Magic solutions that claim to make you richOvernight the next tip on how to grow your wealth is to keep your money safe and make it last for Generations one of the goals of growing your wealth is to ensure that it is passed on to Future Generations therefore you should always be careful with any investment it hasHappened many times when people fall victim to fraud or a market crash they lose faith in investing and without investing you can't reach Financial Freedom for example do you recall the.com bubble in the early 2000s many internet companies were overvalued and hyped up by the media they attracted aLot of investors who hoped to make a fortune one of these companies was pets.com it sold pet supplies online and had a famous sock puppet mascot it went public in 2000 and raised millions of dollars but it also spent Millions on advertising and shipping costs it couldn't make enough profit to surviveWhen its value plummeted investors couldn't recover their money because the company went bankrupt in less than a year it was like throwing money into a black hole with no return the outcome was thousands of investors broke and billions of dollars lost for the whole Market it was a huge shock and a totalFailure another example is the wine fraud Rudy kerniowan many investors bought rare wines without knowing anything about wine collecting it was a foolish thing and it turned out that the wines were fake it was a counterfeit scheme and many people lost millions of dollars to this day they haven't gotTheir money back this shows how important it is to protect your money and make it last for a long time if you want to grow your wealth it gives two examples of how people lost their money by investing in things they didn't understand or verify I can imagine how devastating it must haveBeen for them to see their hard-earned money disappear in a blink of an eye and you are probably asking yourself how can we avoid such pitfalls and make smart investment decisions what are some reliable sources of information and advice that I can trust the answer to that question is youShould learn more about the industry the asset or the business that you want to invest in additionally it is wise to seek Financial advice from a professional now I have few questions for you what do you think of these stories of investment disasters have you ever experienced something similar orKnow someone who has how do you keep your money safe and make it last for Generations share your tips and insights with us in the comments section the next tip of how to grow your wealth and live off your Investments teaches us how to use debt wisely do you want to use debtTo your advantage or to your detriment this topic will show you how to make smart decisions about debt and avoid getting into trouble these are vital skills for achieving Financial Freedom let me explain with a simple example suppose you have fifty thousand dollars and you want to start aBusiness you take out a forty thousand dollars loan from the bank and use it to set up your business this is good debt and manageable debt you have used debt to build an asset that makes money for you now suppose you have only five thousand dollars and you take out aForty thousand dollars loan to buy a car this is bad debt and excessive debt you have used debt to buy something that loses value over time and does not make money for you any issue with your income or expenses or interest rates could land you in hot water this is an extremeExample but it illustrates the point in the first example we can see how wise debt usage is when one plans ahead considers interest rates and evaluates the potential outcomes of their investment however in the second example we see how one can use debt foolishly when they act on impulse ignore theRisks and disregard the consequences also good debt is the one that helps you increase your wealth by investing in assets bad debt is the one that lowers your wealth by spending on liabilities for example using your credit card to buy clothes is bad debt when you put onThose clothes you have nothing to benefit from them except a load of debt that can hurt you financially therefore using debt prudently can speed up your journey to Financial Freedom but using debt imprudently can ruin your finances and keep you stuck debt is a powerful tool that you need to Handle With CareMy advice to you is this before you take on any debt ask yourself these questions is this debt good or bad is this debt manageable or excessive is this debt helping me achieve my goals or holding me back if you answer these questions honestly you will be able to use debt effectivelyAnd avoid unnecessary problems now if you want me to create a video on how to use debt to build wealth come at the word debt so I know the next tip I have for you on how to grow your wealth is to diversify your Investments imagine you have a basket full of eggsYou want to sell them at the market and make some money but on your way there you trip and fall all your eggs break and you lose everything now you have no money and no eggs this is what can happen if you put all your money in onePlace you are exposing yourself to a lot of risk if you rely on one type of investment for your financial freedom different Investments have different levels of risk and return sometimes they go up sometimes they go down no one can predict the future with certainty that's why it's wise to spreadYour money in different types of Investments you can diversify by choosing different products Industries or currencies this way you can reduce your risk and increase your chances of making money in the long term do you agree that diversification is a smart strategy for investing you diversify your portfolio and whatTypes of Investments do you prefer let us know in the comments below moving on to the next tip on how to grow your wealth don't spend more than you need in the age of consumerism your happiness is defined by the amount of stuff you buy so it's not surprising that we likeTo splurge on things we don't really need but in the end it's important that you don't spend more than you need because if you do you'll end up living beyond your means and accumulating debt believe me I know this from experience spending money will make you feel goodAt the moment but it's not worth the Stress and Anxiety you'll have to face later now it's not just about saving money if you live a simple and minimalist lifestyle you're sending the message that you're content and grateful while that can make you feel good and peacefulIt won't make you popular in fact it will probably do the opposite since people will be puzzled and curious about your choices so what is the alternative maintain balance and enjoy what you have without wasting it the next way to grow your wealth and live off yourInvestments is to use tax benefits one of the secrets of the rich is to use the tax system to their advantage taxes are not just a way for the government to collect money from you they are also a way for you to reduce your expenses and increase your cash flow by understandingThe tax laws and applying them wisely you can grow your wealth and live off your Investments more easily for example you can deduct your interest payments on your mortgage or your business loans from your taxable income which lowers your tax bill and frees up more money for investing or you can invest inAssets that generate passive income such as dividends or rental income which are taxed at a lower rate than active income such as wages or salaries these are just some of the ways you can use tax benefits to boost your financial IQ and Achieve Financial Freedom however mostTax rules are based on the type of income and how the money is earned which has a lot to do with whether the income is passive or active can you guess which type of in income is taxed more if you guessed active you're right active income is usually taxed more thanPassive income you want to know why this is because active income is money that you earn by working for someone else or by running your own business which requires your time and energy on the other hand passive income is money that you earn from your Investments or assets withoutHaving to work for it which requires an initial investment of money or resources the IRS treats these types of income differently and applies different tax rates to them for example portfolio income which is a type of passive income from Investments such as dividends and capital gains is currently taxed atLower rates than active income another example is rental income which is also a type of passive income that allows you to deduct expenses such as depreciation amortization and maintenance from your taxable income these are some of the ways that passive income can offer tax benefits overActive income now let's move on to the next tip how to grow your wealth that is creating a portfolio that can withstand times of turmoil is essential do you want to grow your wealth no matter what happens in the economy of course you do that's why you need toCreate a portfolio that can withstand times of turmoil you need to invest in things that are resilient and profitable in tough times this way you can protect your money and income from Market crashes and crises let me share with you few ways to do this one way is toDiversify your portfolio and add some gold or silver these are precious metals that have a high demand and a limited Supply they tend to keep their value or even go up when the market goes down so if you have some stocks and bonds that might lose value or income whenThings go bad you can balance them with some gold or silver another way is to buy dividend stocks these are shares of companies that pay regular dividends to their shareholders even when the economy is bad for example some companies have been increasing their dividends every year for decades regardless of how theMarket performs some examples of these dividend Aristocrats are Coca-Cola and Johnson and Johnson among others of course they are not risk-free stocks but they usually provide a steady income and sometimes even grow their dividends when the economy goes down a third way is to invest in a structured settlement annuity which is usuallyPurchased in the form of an annuity policy this has the benefits of low expenses and tax savings but also comes with some risk that you might not be able to withdraw your principal when you want to and finally a smart investor always saves some cash for a rainy dayWhen a crisis hits the market goes down and many stocks become cheaper that's when you can use your cash to buy them at a low price and when the market recovers you will have a portfolio full of valuable assets that you got for a bargain this is how you can turn aCrisis into an opportunity because the best time to find great deals is when everyone else is scared and uncertain another piece of advice on how to grow your wealth is to act with caution or in other words have an investment plan what if I told you that you can achieveFinancial Freedom by following some simple steps that's right you can reach your money goals faster and easier with an investment plan an investment plan is a road map that shows you how to invest smartly and efficiently it helps you avoid common pitfalls track your progress and make your dreams come trueLet me explain how investing without a plan can lead to costly mistakes as investing can be complex and tricky it is important to have the right information and skills in order to make the most profitable decisions having an investment plan can help you avoid such errors not having enoughInformation or expertise can lead to losses and unmissable opportunities having a properly constructed investment plan is like having a mentor that guides you it shows you the best ways to invest with security and accuracy additionally an investment plan can help to track your progress for instance if you wantTo Achieve Financial Independence and live a secure life in retirement it is critical to have an idea of the amount required and the length of time you need in order to build your desired savings to achieve an annual income of eighty thousand dollars from Investments you'll need to have at least one millionDollars this is assuming the Investments earn eight percent interest per year so the key question is how much can you save each month and more importantly how can you increase your savings rate or your return rate if you can't save enough or earn enough it's time toAdjust your goals or at least for the short term lastly having an investment plan can help you to make your dreams come true it gives you the opportunity to plan how you want to utilize your money for specific goals like buying a house starting a business traveling the world or retiring earlyBy doing this it can help you form a Clear Vision of what you want to achieve with your money apart from promoting a disciplined approach setting achievable goals increasing financial literacy and providing motivation and investment plan offers many other advantages it's important to remember that investing isOnly part of the bigger picture and shouldn't dominate your entire life when it comes to your finances striking a balance between saving and spending is key not only should you focus on making sensible Investments but you must also ensure that the money you do have is being used to make your life moreEnjoyable rather than thinking of money as a source of misery look at it as a tool it can provide Freedom joy and chances that simply weren't available before celebrate your financial successes by rewarding yourself with some of your profits don't bear the burden of stress or unhappiness in life financial goalsAre important but don't let them override the other aspects of life we must remember that time is finite and treasured moments with loved ones should be cherished there is no guarantee that those who are with us today will be here tomorrow so it's important to make theMost of our time before achieving your financial goals use some of the money you've earned to reward yourself the next tip on how to grow your wealth and live off your Investments is connect with people who are financially successful imagine you want to learn how to play the guitar would you rather hangOut with people who have never touched a guitar in their lives or with people who can play amazing songs and teach you some tricks the answer is obvious right the same logic applies to Growing your wealth and living off your Investments you need to surround yourself with people who have already achieved whatYou want to achieve they can inspire you guide you and motivate you to reach your financial goals of course yeah you can't just walk up to a millionaire and expect them to be your best friend you need to build genuine relationships with people who share your interest in Money MattersYou never know when you might meet someone who can give you a valuable tip or a great opportunity so don't shy away from networking with people who are good with money because they might help you become one of them are you ready for the next tip on how toGrow your wealth and live off your Investments here it is don't fall for the Trap of pessimism you know what I'm talking about right that voice in your head that tells you everything is going wrong the world is falling apart and there's no point in investing well guessWhat that voice is lying to you pessimism can make you miss out on great opportunities make you sell your Investments at the wrong time and make you feel miserable instead of listening to that voice listen to this one optimism optimism can help you see the bright side of things the potential forGrowth and the joy of investing trust me optimism will make you a better investor and a happier person how do you practice optimism in your daily life especially when it comes to investing let us know in the comments below you have just learned 18 powerful tips thatCan help you grow your wealth and live off your Investments these tips cover everything from earning saving investing diversifying planning and networking they are based on sound financial principles and Real World Experience if you apply them consistently and diligently you will be able to Achieve Financial Freedom and enjoy the fruitsOf your labor but remember these tips are not Magic Bullets they require discipline patience and perseverance you have to be willing to work hard learn new skills and adapt to changing circumstances you have to be the master of your own destiny and not rely on others or on luck and most importantlyYou have to enjoy the journey and not just the destination money is a tool not a goal use it wisely and it will serve you well my final advice is this don't wait for tomorrow to start your financial journey start today and make Every Day Count this video is forEducational purposes only and does not constitute investment advice it is important to conduct thorough research and consult with financial professionals before making any investment decisions the value of Investments can fluctuate and past performance is not indicative of future results always assess your risk tolerance and investment goals before allocating your Capital now ifYou want to know how to protect your money I recommend you watch this video next thank you for joining us today we hope you found this video informative and exciting if you enjoyed it give it a thumbs up share it with your friends and don't forget to subscribe to our channelFor more wealth building content until next time happy investing and may your financial journey be prosperous