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While there are businesses that don’t require much money to start, you’ll likely still need some money. If you have an entrepreneurial spirit, you may want to invest in your own business. There may not necessarily be opportunities to earn more money by investing in yourself.īut, if there are opportunities, you should at least do the research of how much it might cost and how much more you may make in the future. That translates into a 650% return or a 7% average annual return.Īnd, that’s a pretty conservative example. If you invest $20,000 to earn just $5,000 more a year for the next 30 years, that’s an extra $150,000. If you have some extra money, do some research into how you might be able to advance your career and earn more money.Ĭompared to the investment opportunities, this may have the highest return. There are plenty of different ways that you can invest in yourself to increase your earnings potential. The worst that can happen is that you learn a skill and it becomes outdated or obsolete.īut, if you learn the right skills or attain the right knowledge you may be able unlock further earnings potential.ĭoes you current employer offer pay raises or bonuses for certification or learning?ĭo you need to learn something new to take the next step in your career?Īre you thinking about pivoting to a new field with higher earnings potential? When you invest in yourself, you cannot take away those skills or knowledge. Still, you can also grow your wealth through the four basic ways to achieve a return on your money. Lend your money to a company or someone elseĮach way is different and involves different types of risk.Invest in another company or group of companies.
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Invest it in yourself to earn more money.
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There are 4 basic ways to make money off of your money: If you’ve saved some money by spending less than you earn, you may be wondering what you should do with it.īut, why not instead, make some money off of that money.