I am 23 and just out of university, on my way till now I discovered some interesting things witch I will share with you.
The fact is true that start investing ASAP so your wealth can grow.
When I am investing I look at two things:
Profit from investment
Learning from doing it
Either way you will win from one of those things.
My story of investing started in 2012
FOREX
Credit
I was 18 at that time and had saved up to 1000 EUR (yes I am very good at saving money, and no I don`t come from rich family)
There was a company witch offered to trade currency so that is what I did. They ware teaching young trades such as myself technical analysis skills and then you could start trading on trading platform.
At first I was so exited to become the wolf of wall street and a becoming rich in no time. YES I made some profit (something like +300 EUR), but guess what at some point I lost it all, so I put another 500 EUR to give myself a second chance. Do you think this time I was succeeded? NO, lost it all again.
I was crushed at that time because all my savings were just gone.
Analyzing investing in FOREX
Did I get profit form investing?
-hell no I lost 1500 EUR in total
Did I learn from doing it?
well, YES I did. and few thing actually:
I started something that I could understand fully ( so next time I should learn about were I put my money)
Do not, and I repeat DO NOT put all your eggs in one basket, never ever. ( This mistake costed me few more years to save money so I could not start investing right away)
FOREX is volatile and I was not prepared to accept the risk (Invest only what you can afford to lose)
Real estate
When in turned 20 I have saved up some good 3500 EUR ready to invest. I was getting prepared to invest in real estate. Listened to podcasts, I got all the information I could get my hands on, I calculated, I researched.
And there it was my perfect purchase - garage (well nothing much but it still counts). I could rent it out and get good 12% return after all costs covered, the tax, maintenance etc.
Analyzing investing in Real estate
Did I get profit from investing?
- oh yes, and profit it did
Did I learn from doing it? - yes and I learned few things
Found out that real estate is secure and works for me, I do not need to have lots and lots of money
I found out that not always the price offered is to stay - bargain for it.
I learned to make strong relationship with costumer it is always a win-win (if they are happy I am happy)
Shares
Ok, fast forward to 2018.
I was looking to invest in something new. At this time I got real estate working for my small profit.
So I decide to go similar path with risky investments, but now I think of shares. I have studied them I know how to do basic analysis so I think of what shares to buy and I ask myself questions.
What will always be demanded?
What kind of companies will be there for years?
What company can I trust?
-After few day thinking and finally I come up with an answer….
well if you think of it, people will always need medicine, electricity, place to live and so on.
And my first investment in shares was in Pharmaceutical company
I do not know if I will earn from that, the story is not jet finished. But I know for sure, that I did learn a lot from doing it.
P.S.
I manage to save up to 30% of my income and I am proud of it.
I always have been a big saver, I do not save on food and health (you lose your health you lose everything), but I do not waste money on going shopping every month, and buying all the fashion clothes. I do not drive car I go by public transportation so I don`t spend. Whenever I travel I stay at cheapest hostels and so on. I know my goals and I strongly keep on them. Of course not always it is possible, but I do my best.
If that works for an answer, I am happy.
Will I get rich? I do not know that, lets see in 20 years, but I will do my best and if not I will had good time doing it.
-Keep on saving and investing!