Let’s say you have $70,000 to invest, and you want to grow that wealth as big as you can and as fast as you can.
Should you leave it in your savings account where it will grow at a measly 1% interest rate? That will make you some money, but it won’t make you a millionaire.
What if you could find an investment vehicle that would give you a 50%, a 100% or even a 1,000% annual rate of return?
Believe it or not, such an investment vehicle exists. It’s the secret of most of the billionaires on the Forbes rich list. In this video, I reveal what it is.
HOW DID THE RICH GET RICH?
Take a look at the Forbes list of billionaires. How many of them amassed their wealth through buying shares in existing companies?
There are a few. Near the top of the list is Warren Buffett, who invests through his holding company Berkshire Hathaway. Further down the list is George Soros, who became rich through hedge funds.
However, you will see that the majority of those on the list became billionaires by starting their own companies. Bill Gates started Microsoft, Jeff Bezos started Amazon, Mark Zuckerburg started Facebook, Amancio Ortega created Zara and there are plenty more examples.
GET RICH BY STARTING YOUR OWN COMPANY
After I realized the secret of most billionaires was starting their own company, I rethought my investing plan. What if instead of investing in other companies, I start my own company?
I’m glad I did. In our first year, MOBE grew by several thousand per cent. In our second year, we grew more than one thousand per cent. In our third year, it was still a very high rate of return.
With a new business, provided you are in the right market and you’re not afraid to get your hands dirty, you can create rates of return like this. Compare that to investing in existing companies and you’ll usually get an average annual rate of return of only 10%.
Now, I can’t guarantee that your business will see 1,000% growth like MOBE did. But even if your business grows at just 100%, meaning it doubles each year, you can still become extremely wealthy. For example, if you start with $70,000 and you can have your money double every year for 10 years, your capital would grow to $71 million by the end of the decade.
ALWAYS USE A CALCULATOR
The human brain is simply not wired to fathom the kind of exponential growth that compound interest creates. If you took the numbers and tried to estimate in your head, you’d probably be way off.
Always use a calculator when projecting the growth of your wealth. There are plenty of compound interest calculators online, such as this one, that avoid the need for complicated formulas. You simply enter the starting principal, the rate of return and the number of compounding periods. The calculator then tells you how much money you’ll have at the end of each compounding period.
Try some numbers in the calculator and see what result you get. You’ll likely be blown away at how much wealth you can amass with some patience. Getting rich is not hard.
The MOBE Platinum Mastermind is where the most experienced mentors in investing and asset protection share their investment methods with fellow members. To learn more about the Platinum Mastermind, click HERE.