Unlocking early retirement is possible with diverse investment
Unlocking early retirement required proper planning and clear objective about what you want to achieve in your life. How much money is enough for you for future needs. Now, the question come in our mind from where to start in order to unlock early retirement.
The answer is simple. Save money. Saving money may help to unlock your early retirement. It was considered good strategy in the past but depreciation of money have changed people thinking. In my part of the world my local currency has been depreciated more than 60% in last 18 months. This reveals saving money is not enough to unlock early retirement. I am not opposing the saving money philosophy. Saving money is actually the first step to wards unlocking early retirement goal. You can't do investment by taking loan. So, never underestimate the importance of saving money.
You can unlock early retirement by investing in different project instead of saving money in one form. You may invest in multiple assets like precious metal, real estate, bonds or even in crypto market. Always try to diversify your investment.
Investment in multiple assets may reduce the risk associated with investment. If one project fail it will not sink all your equity. On the other hand other project may help you to bear your loss. Actually multiple investment opens new earning opportunity.
More earning opportunity will help you to accomplish your goal well before time. This is only possible if you diversify your investment. Never invest all your equity in one project. No matter, how good the asset is. Just imagine the example of BTC. It had achieved $68,800 in the past but currently it is trading around $26,000. Big dip observed in worth of BTC. If BTC observe any dip any other investment may dip. Always diversify your investment. What is your opinion my friends?
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.