In a world in which the economy is unpredictable, savings are not safe from inflation and global economic downturns are almost looming, there is no better time to invest than now. It is no longer the time to trust in money, but in the assets that one has. One of the best assets to invest in is real estate. Investing alone is not enough, have knowledge of what you want to invest in is important, and there is no substitute for it. Knowledge is the heart of any investment opportunity, and property investment is no different.
Kerk Kerkorian, a US billionaire, started from scratch and today, his name appears in the Forbes magazine. His background tells an entirely different story. He does not come from a royal family or inherited riches from his parents. His parents were immigrants from Armenia. In school, he did go beyond eighth grade to pursue boxing. Along the way, he found some ordinary jobs, from which he made some money. He then continued to invest in property in the glittering Las Vegas. His fortune changed. The gods of investment smiled upon him. He now owns more than half of hotel rooms in Las Vegas.
Las Vegas is not just a regular place. The prices of accommodation have soared high over the past few years, and people still trickle in from all over the world to have a taste of what the place has to offer. People come to the place for fun, relaxation, gambling, bachelor parties and so on. All these people have to stay in some hotel. There is more than a 50% chance that they will be staying in one of Kerk Kerkorian’s hotel rooms, meaning that he will be smiling all the way to the bank when their stay is over.
It is more than luck that landed Kerk Kerkorian where he is today. He saw an investment opportunity and went for it. The investment which he made a long time ago is set to work for him for the remainder of his life.
It is not only property that is worth investing. Education is the way to go. Though many a time, it doesn’t turn one into an instant billionaire, it turns one from poor to rich. It is the most reliable way to fight poverty and churn responsible and intelligent professionals which are the wills that run the global economy and industries. It is even difficult to imagine what the world would be without engineers, lawyers, doctors, accountants and other educated professionals. Education, above all else, is essential to invest in, especially in developing countries, because it has the potential to bridge the gap between the rich and the poor.
Some Famous investment quotes
Put not your trust in money, but put your money in trust.
-Oliver Wendell Holmes
Never invest in any idea you can’t illustrate with a crayon.
An investment in knowledge pays the best interest.
“Never depend on single income. Make investment to create a second source.”
“Do not put all eggs in one basket.”
“Never invest in a business you can’t understand.”
“In investing, what is comfortable is rarely profitable.”
– Robert Arnott
“If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.”
Always invest for the long term.
– Warren Buffett
Some More Quotations for Investment
- “Invest in yourself. Your career is the engine of your wealth.”– Paul Clitheroe
- “Wide diversification is only required when investors do not understand what they are doing.” – Warren Buffett
- “If you have more than 120 or 130 I.Q. points, you can afford to give the rest away. You don’t need extraordinary intelligence to succeed as an investor.”
- “I do not like debt and do not like to invest in companies that have too much debt, particularly long-term debt. With long-term debt, increases in interest rates can drastically affect company profits and make future cash flows less predictable.“– Warren Buffett
Investment, whatever its kind, if done correctly with sufficient knowledge, is guaranteed to change one’s circumstances. It is a no brainer that investment involves risk but is a risk worth taking. As in individual, learn to invest in yourself and make the best use of resources around you, no matter how minimal they can be. After all, that’s the purpose of investing; turning small into big.