What is the best investment should I invest in?
A friend of my with his name start with X, he told me he got put some money aside, about RM 50,000.00 and don’t know what should him invest in.
Yeah, he is checking with me what can I recommend him to invest.
Stop 🖐🏻, I am a full time property agent in Penang who are selling property including property investment.
Why he is not asking me what property investment now is worth for him to invest? 🤔
So, I asked him, have you ever thoughts to invest in property?
He then gave me his answer, property investment is good in long term and stable, but he wants some thing with better ROI and higher risks. 😲
Then I know he is prepared to invest in something out of his territory. By further elaborate on what he think and how he friend introducing him for a good investment, I found out that he is actually know nothing about that investment.
That’s why he came to me and checking out what is my opinions for him.
Here, there is so many good thing about property investment is not a good thing, not only that, almost every investment also not a good things 😆
That’s not my area of expertise, how can I help him to understand the “great investment” introduced by his other good friend?
So, I explained on property investment, it can be the best investment for me, but it might not be a good investment for you.
What’s a best investment for somebody else, may not be good investment for you.
Then, how I do I view investing?
Where is the best investment?
MY TOP RULE - Invest In Something That You Understand.
I tell him better to invest in what he understand, especially for his own business in renovation and roof repairs services. This could be the best investment for him.
I questioned him: “why not you double up your manpower for your own business and invest in advertisement to grow your business?”
Further added, do you think that this is much safer than you invest in something that you don’t even know how they make money?
It’s a business investment by the way, you are investing other business instead of your own business.
Just a couple of questions to him, and he realised that he could do more with his business.
Instead invest in property just because we are friends and I am Property Consultant, he need more time to get prepared.
When there is best investment?
I don’t invest because of trust, it doesn’t matter, not even a cent.
When your best friends come to you and telling there is a best investment now!
Sorry, when there is best investment for you, better check it out and not base on trust.
So, I do not invest in cryptocurrency, so don’t ask me about cryptocurrency, that’s not my expertise.
But, I have friends Mr. R and Mr. M who are expert with cryptocurrency and made a lot of money, there’re talking about 5, 10, 20 times, even multiples on their ROI (Return of investment).
They are very good with cryptocurrency, they dive in to study and learn how all of that works, and they sometimes give me tips.
But I never invest in that, not a single cent. I trust my friend, it doesn’t matter, because it is not something that I understand.
So, I don’t invest because they had bought property with me by “cash”, yeah, what I can see they are really cash rich and property investment is just something for them to hold their money.
Who can tell best investment
If you believe someone’s hard tip, you believe someone says on Facebook post, you invest without understand it, you’re idiot, okay?
It’s same applies to my blogs, don’t buy because you believe in me after reading through my blogging habits, I can’t give you any guarantees on what is best investment for you.
But, I can firmly tell you this, the best investment is none other than investing in ourselves. Invest in training, invest in things that can upgrade your skills.
Invest in yourself, because nobody could take that away from you.
Don’t buy into any “get rich quick” or “you’re gonna miss out” mentality. That’s a very amateur investor.
Why best investment is not for us
If it is best investment and guaranteed for return without risk, what is the reason he/her wants share with us?
Just to take care us?
I don’t think so.
It’s like I selling Eco Bloom, I can see it’s potential and selling with my confident, but what I understand is not what you understand.
Even my explanation versus your understanding from what I said can be two different thing.
By selling it, the process take me dive deeper to understand why it can be an investment which can be having great return.
And I bought it because it is “best investment” for me. But this doesn’t mean it will be best investment for you unless you spending your time to discover it’s benefits and also risks.