Did you know that consumption without purpose is a detriment to our economy today? Now, you may ask how so ? I really don’t want you to sleep on this truth. Here’s the deal, in order to create momentum in any economy you need two things; consumers and investors. Depending on what your most prominent goal is determines what you do with your money and who the wealth flows to. No doubt about it, becoming an investor will always be the better way to accumulate more wealth than people who spend money without a clear outcome of growth. Whether you invests in a business or assets that’s in demand will make the distinction to your optimal result.
So, with this information you may be wondering how to not be left behind?
The $13 trillion wealth transfer is not something that is coming; it’s happening right now. This has not just happened suddenly because of the pandemic either. We have had decades to prepare for it. Our economy has gone through several cycles that have evolved into what is now the Digital Information Age . This began in the 1970’s with the first computer over 4 decades ago. Now you are able to try on makeup without it touching your face , order food (not just pizza) but grocery and fine dining, chat bots who intelligently communicate with customers’ on websites and inboxes, signing legal documents through an app, attending grade school or achieving degrees; all from a digital device.
So it’s only inevitable that we would start using digital currency since we have already become accustomed to making purchases with debit or credit cards rather than cash. The only difference is for over 239 years these transactions have been dominated by centralized banking. The times are shifting and it’s demanding change from all involved . This ignited a revolution of new money; crypto currency. Of course these crypto currencies which began in 2009 with Bitcoin (BTC) will have to be vetted like any other investments. It will have to go through the cycles of correction. However, those who ignore this change and not at least diversify by adding assets including some of these coins to their portfolio may be making a huge mistake.
Here’s 5 Best Ways to Cash in on The $13 Trillion Wealth Transfer
- Start or innovate your business – Businesses serve the demand of the Digital Age demand and is prepping for acceptance of digital currency
- Buy Stocks – Purchasing stocks whether IPOs (individual positions, ETFs or Broad Index. Hire a Fiduciary or financial professional who gets paid when you do and have your best interest first is best
- Invest in real estate– Buying income producing property with integrated tax advantage strategies are a must. You don’t always have to possess the property either
- Start smart retirement plans– It’s never too early to plan for a time where you leverage rather than labor for money. All retirement plans are not created equal. There are some antiquated strategies still being used that do not serve especially entrepreneurs.
- Invest in Diversified Currency– Domestic , Foreign and Digital. Following investment principles of allocating percentages to particular investments and owning a variety of any asset is a sure way to win long term with doing your research and understanding what you’re investing in.
We dived deeper on these topics in this week’s Power Start Your Day podcast. Where I give you some deeper insight and a few more assets you could invest in . This is just a little sneak peak to what we will be mastering in The Pink Millionaire Club. We will be opening the digital doors soon .
If you missed any episode, the replays are in our Power Moves Group on Facebook. Feel free to join the fun and share this article with anyone you feel would benefit from learning more about money and wealth the Kingdom Way!