In this episode, Rob and Kane share how they would invest 10k to get the best return. They explore everything from traditional investments like gold and property to newer opportunities in cryptocurrency and digital assets. Rob talks about the power behind diversification in investing and why passion can make all the difference, as well as the importance of age appropriate investing, risk management, and the crucial balance between making and maintaining wealth.
KEY TAKEAWAYS
- There are three ways property makes you money: it goes up in value over time, generates rental income, and can be bought below market value. This magical triad is an advantage that makes property unique compared to other investments.
- Your age should influence how you invest, younger people can take bigger risks because they have time to recover, while older investors should focus more on protecting their wealth and generating steady income.
- Digital investments (like website domains) can make good money but are riskier than physical assets. Someone can't "turn off" your gold or property like they can a website.
- Making money requires focus and taking calculated risks, while keeping money needs a more careful, diversified approach. Master both skills to build lasting wealth.
- Real investing beats practice investing every time, putting even a small amount of real money into something teaches you more than pretending with fake money.
- There are four key money skills to develop: making it, managing it, growing it, and keeping it. Each needs its own strategy and approach.
BEST MOMENTS
"In order to make money, you need to be aggressive, in order to keep money, you need to be defensive... Diversification reduces risk, but diversification dilutes focus."
"The more you enjoy something, the better you're going to know it."
"If you don't like property, what's the point in putting money into property? You can make investing strategies bespoke to you."
"They can take everything from you except your experience and knowledge."
"Only when you invest in the thing do you know how to invest in the thing. So paper trading, paper investing is just a game of Monopoly, doesn't mean anything."
"The more money you have, you get the money working for you. The less money you have, you have to work for the money."
VALUABLE RESOURCES
bit.ly/Robsupporter
ABOUT THE HOST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”
“If you don't risk anything, you risk everything”
CONTACT METHOD
Rob’s official website: https://robmoore.com/
Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs
LinkedIn: https://uk.linkedin.com/in/robmoore1979
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