Most of us want to be richer. Here, some ingenious tips to help you build your wealth.
1 START INVESTING EARLY, AND DO IT OFTEN
As a child of the digital age, there’s no excuse to be scared of investing your money. Thanks to the rise of robo-advisers and online trading platforms, even beginners can start investing – with as little as $100. Check out online investing platforms such as Smartly (www.smartly.sg), which completely automates all your trades for you. And if you’re worried about high service fees and hidden charges, you’ll be pleased to know everything at Smartly is transparent and upfront.
So how does investing make you rich? Two words: compound interest. Basically, the longer you invest, the more your money grows. That’s why how early you start investing is more important than how much you invest. Don’t wait, because investing early and often dramatically increases your chances of getting rich.
If the movie Crazy Rich Asians has you feeling a teensy bit envious, well, we feel you. The film is set in Singapore, after all, and features mansions, glittering apartments, high fashion and fast cars. It is obscene that anyone should live like that… but you want all that too. How to get it? Well, getting rich – or at least, richer – is largely a matter of knowing what to do with your money and how to grow it. Here are five creative hacks to multiply your wealth – who knows, you could soon be throwing your very own private lawn party.
2 BACK START-UPS AND BUY STOCKS
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