Work for money OR let it work for you!

In my previous post, I've mentioned about the time of retirement. Of course we all wish to retire early.
Yet, most people work for money. They travel to office, work from 9 to 5 and get the paycheck every month.

But have you ever wonder how it will be like if you use the money to work for you instead? How can you do that?

I've collected many ideas from different books and experiences of great mentors. So here's to share some of the knowledge I've learned.
One of the many ways to let money work for you is through...investment!

You can simply dump your money into some investments, leave it for few years or more, and let the money grow. After some time, take it out and voila! you earn more than the money you invested! Sounds easy? Well, it seems, but you need to do your homework before you invest, that's for sure!

Mutual Fund/ Unit Trust

This is one of the easiest way to invest, requires less monitoring compared to other investments.
How mutual fund work is that, the fund manager will allocate your money to invest into different companies or industries (depending on which sector the fund is in).

Invest it in the long run, for example within 5 to 10 years time, the earnings percentage will be around 7-15%. The chances of having to see a growth in your investment is very likely (unless you choose a wrong fund at the wrong time, then you lose money!)

Stock investment/trading

Here you will become a part of a public listed company's shareholder. You buy a company's share, you own a part of the company. As their share price increase after you bought it, you will earn money.
You may want to invest for long-term or short ones, it requires plenty of understanding of stock investments.

But as you invested your money in, it will start to work for you. You will start to sit down in front of the tv or computer monitoring the share price, hoping it to go up.
I wouldn't want to explain in detail on this, it will make this post look like a novel. On my next post perhaps. =))




Property investment


This is one interesting. It always reminded me of big players like Donald Trump or best-selling author Robert Kiyosaki. Both emphasize on property investment.
Many ways to invest in property. One way is to buy a property that has really great value. Good property's price will grow overtime, when it reaches a perfect time, sell it and earn a great percentage of returns.


If its a shop lot or a house, rent it out, get the monthly rental income to pump into your mortgage. Through this you can reduce some mortgage expenses at the same time finish the loan until the tenure ends. This requires huge capital, of course young people without much money don't even have to think about it.


Another way of investing is to start renting the whole house. And rent it to other tenants at a higher price, you will earn small returns from there as well.
This is best practice if you are able to rent it around college/uni locations.


Many other ways of having the money to work for you. Its whether we can practice it real life or not.

Bear in mind, these are only some of the suggestions I've derived from mentors, books and also myself. You may have different ideas of investments from mine.

Happy investing, remember, let money work for you is the best way to earn extra!