Wealth Stacking To Earn Your First Million - Starting From Only $1,000?
Getting Into It
Recently I received a comment asking what an investor could do if they only had $1,000 to start investing with.
This is a pretty common question since I am often on podcasts speaking about how to rise up from the lower-income brackets and increase your net worth and income into the top 1%-5% of individuals.
I did a live training on it at the 100 Millionaires Summit in October of last year and the video is here:
A High Level View Of Wealth Stacking
For the short version, if you have less than $1,000 then the best investment is going to be getting yourself a skill or license that will drive income for yourself.
Having some sort of active income to start with is really important. I usually suggest commissioned sales of expensive products because selling pays the best and the fastest once you figure out who wants your product and you get good at finding them and talking to them.
Wealth Stacking Principle
Under $1,000 - Focus on learning skills that increase your income so you can gain savings
$1,000-$10,000 - Continue re-investing in yourself and your skills/business to increase income (this can be in the form of licensing, certification, or sales/marketing training)
$10,000-$250,000 - Invest in highly leveraged assets that pay for themselves whether the market goes up or down (I have found Real Estate OR Businesses are the most reliable cash-flowing assets)
$250,000-$500,000 - At this point, you can easily 1x-2x via most asset classes including Stocks, Crypto, Real Estate, and Businesses (But I still prefer Businesses and Real Estate that cashflow because they cover themselves and can use heavy leverage)
I also did training on how to make $1,000 in a week where I offered a number of different ways to earn extra money. (one of those options was selling affiliate programs online). You can find that training here:
https://gualteramarelo.com/how-to-earn-1000-in-one-week/
Join My Mission To Build 100 Millionaires!
As many of you know, I built my wealth through Real Estate and only now learning more about cryptocurrencies. I've found Leofinance to be a great place to share my insights and although I don't claim to be an expert in Crypto, I am considered a leading expert in small multi-family investing.
Each week I share my hard-earned insights on wealth building with anyone who will listen! I call this journey through the 52 wealth principles "The 52 Weeks To Wealth".
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Thank You To This Community!
I provide these insights as a way to give back and help others who find themselves on the same journey I was when I got started. I want to say thank you to the Leofinance community for giving me the opportunity to learn more about Crypto as well as to the creators and team for providing many great avenues for investors to grow their wealth and knowledge in one easy place.
Cheers to our success! @GualterAmarelo
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