Whenever money comes into your possession, you have a choice to make. You can choose to either spend it all or save a portion of it. The average person spends it all with hardly any thought of tomorrow. However, wouldn't it be wise to save a portion of your monthly income, not just for retirement or a vacation, but to invest that savings into something that will eventually start to put money back into your pockets?I'm sure you will agree that you would rather save (even if its only a small portion of your monthly income, maybe 5 or10%). So that you could invest this savings into an investment that will eventually start to produce more money for you. Instead of working for somebody else as an employee for the rest of your life.
That's why I've taken the time to put together a list of some of the most popular and also profitable investments I could find for under ten thousand dollars. Everyday starting today I will post an investment from this list with a brief description of each, along with a list of pros and cons which I hope will help assist you on your quest towards becoming financially free.
Investment #1. Starting a small business
Starting a small business can be a really great investment, but like any other investment it has its risks. Your business can literally be one of the most beautiful things you've ever created one day. And then due to something completely out of your control, become one of your most hideous creations the next. However, if you truly want to succeed, you have to learn to accept the good with the bad. Owning your own business can be a very rewarding and exciting adventure. Yes, you'll face some challenges along the way, but those challenges should be looked upon as an opportunity to become an even stronger entrepreneur, rather then set backs. Don't allow fear of failure to hold you back, if starting your own business is something you really want to do.
Pros:
-You determine your work hours, work pace, and work environment.
-You get to pursue a career based on your interest
-You're more likely to become a millionaire vs someone in a traditional employer-employee role
- There's no limitation put on the amount of money you can earn as an entrepreneur
Cons:
-Longer work hours(the average small business owner will work more then 50 hours a week)
- Your business can fail, which means you can lose all of your invested money
- you're not guaranteed a paycheck
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