Inner Reign’s main objective, is to create High Value males, in order to further themselves and their lineage, thus furthering society.
There are many facets of life, for which a man can become High Value:
Staying in the gym and eating healthy in your 20s and 30s, keeps in you peak physical condition for years to come.
Networking, and being socially and emotionally intelligent, can aid in helping you increase your social status.
And of course, acquiring and maintaining monetary success, so that you can amass wealth to enjoy the finer things in life for you and your family.
We all come from varying cultures, upbringings, and socio-economic classes, so the information given to us about how to gain wealth was more than likely told in a myriad of ways.
I’ve learned in sociology that, for the majority of Americans, you are more likely to die in the same social class you were born in, and that the wealth divide becomes larger and larger every year.
Children within the upper socio-economic classes are taught the principles of managing money at an early age, and how financial vehicles can work for them (more on this later in the blog).
As I was researching financial vehicles, I came across a 10-year boy, who asked his grandparents for stock in Disney for Christmas, because Disney had the rights to produce Star Wars movies, and anticipated that the value of Disney’s stock would increase.
Pause for a moment and think about what you were asking your parents for, around Christmas time at the age of 10?
I guarantee you, stock wasn’t on your list
That is what I seek to change, as Inner Reign will post more blogs regarding being financially savvy.
Today we’re are going to discuss the very basics of the mindset needed for saving and investing.
Start Looking at Yourself, As A Business
One of the sound pieces of advice my grandfather taught me about money, was this.
“Pay Yourself First”
It is so easy to get caught up in the vicious cycle of collecting a pay check, only to turn around and start giving it away to everyone who sent an invoice to your mailbox.
That’s the fastest way to end up with nothing.
You must quickly develop the mindset that you are a business, with your own set of objectives and goals that you want to achieve.
“________________ (insert name) Enterprises would like to (retire early/have 6 months expenses saved/money to invest)”
This must be top of mind, and you should ensure a set amount or percentage of your check gets saved.
There are many methods of doing this; some have the discipline to have all their money in one account, and know that X amount of dollars doesn’t get touched.
Others, like to have built-in transfers in place, to another account different from their everyday operating accounts. It’s not on your mind, you don’t see it, you don’t miss it.
This is based on knowing yourself, and acknowledging which style fits best to achieve short-term/long-term goals.
Money That Earns Money
“I don’t know anything about investing” is not an excuse anymore.
There are too many readily abundant resources about investing, to claim obliviousness.
As I mentioned in the beginning, the key element the wealthy class has over those below it, is the knowledge of investment vehicles and money managing techniques passed down to the next generation.
That 10-year-old boy I referred to, knows more about investing than most working-class individuals.
I implore you, start from scratch; I went to Investopdia.com and learned from the ground up: Learned what a share was, the difference between equity securities and debt securities, the creation of the stock exchange, IPOs, long-position, short selling, options, ETFs, mutual funds, REITs, commodities, etc.
They even come with videos to explain the concept
I purchased reading materials as well, began watching more investments segments on Bloomberg and CNN.
Research and discover what investment vehicle works best for you, assess your risk tolerance, and gain some actual practice.
Don’t tell me you don’t have the money to do it. I bet you can list a million items you have blown money on from dates, to shoes, clothes and trips.
Why not invest in your future? Why not attempt to better your situation?
There is nothing wrong with being industrious, trading hours for dollars; however, there are only so many hours you can work.
Put yourself in a position where your money generates more money.
There are millions of wealth and investment avenues that Inner Reign will speak more in-depth about at a later date.
However, those tools and techniques won’t do you any good if you don’t have the correct frame of mind to save and research on your own.
I have missed out on plenty investment opportunities, simply because I wasn’t in a position to make a move, and I want you all to avoid the same fate.
You are a business, an entity, a firm, an enterprise.
Treat yourself like one.
Weather Your Storm, Maintain Inner Reign -E