To be truly wealthy, one has to make money and make sure his money is working for him. It is not enough to earn a comfortable salary, it is also necessary to ensure that this money creates more wealth for you. Wealthy people always say that true wealth is when your residual salary/wealth can comfortably sustain you.
The richest people in the world think in the same direction when it comes to what to invest in. This is very important as this decision can prove to be the difference between a comfortable person and a multi-billionaire. The most promising industries in which to invest to build your wealth portfolio include
- Real estate
Real estate has proven time and time again to be the number one industry that almost all billionaires today invest in. Most people shy away from it because of its attendant risks but is there really any gain without risk? Real estate investing basically involves the use of real estate for profit. It could be in the form of selling, renting, ownership or management of real estate. People who have been known to build their wealth through real estate include America’s president Donald Trump and the only hip-hop billionaire Shawn “Jay-Z” Carter.
- Information and communication technology
Known simply as ICT, this is unarguably the fastest growing industry in the world. The latest and youngest set of billionaires all over the world are all somehow involved in ICT either as a founder of a social media platform like Facebook e.g. Mark Zuckerberg or as the owner of an e-commerce company like Amazon e.g. Jeff Bezos. ICT is a major tool for development in all countries and as such boasts increasing returns as it is highly encouraged.
- Luxury goods
Fine art, vintage cars, wine, watches, and jewelry investment is the in thing now. Their worth over the past decade has in most cases tripled and the dealers, sellers or manufacturers of these goods have also watched their wealth grow exponentially. Most luxury goods are always desired by the rich and ostentatious, therefore bringing certain wealth to those who invest in it. Bernard Arnault, the fourth richest man in the world, is the chairman and CEO of LVMH, the world’s biggest luxury goods company which also owns Bulgari, Dior, and Louis Vuitton and are known as some of the biggest brands on earth.
- Cryptocurrency
A cryptocurrency is simply a digital asset which works as a medium of exchange and is fast becoming very popular. Even though it was introduced just about a decade ago, it has grown and boasts some of the best investment rates. There are now restaurants, online dating sites, and even funeral homes that accept cryptocurrency as a valid method of payment for services. More than a dozen people have become billionaires through cryptocurrency and the list keeps growing.
Summarily, wealth creation is known to be slow and progressive but with the right guidance, especially from people who have excelled at it, then it may not be so daunting.
