#66 - Personal Finance 101 - Alternative wealth creation channels
For a long time, it has been declared that investing in real estate will give great returns compared to investing in equity markets. Though it is true, it depends on various factors that we can’t predict. Risk takers should evaluate investing in real estate. Other conservative investors should stay away from this.
Another way to create an insane amount of wealth is to startup. Starting up is not easy. It is far riskier compared to real estate. But startups generate a lot of wealth and jobs. If you are interested in starting up, read my experience in starting one.
P.S. I have been writing on Personal Finance 101. Do I have skin in the game? I am 27 years old now. When I first started my career, I didn’t save much but I saved. I didn’t follow any disciplined approach in saving and investment. Then I founded a startup and bootstrapped with my money. After a year and a half, we had to shut down the startup. I was totally broke staring at a very serious debt. I decided to crawl back from this rabbit hole with all energy that I could muster. After 2 years, I am financially independent. I am trying to compile my financial learning in the recent years.