Consistent wealth building

Consistent wealth building

Consistency is key.

Please note: this article may contain affiliate links where I receive a small compensation for referral at no charge to yourself.

 As the saying goes, if it's important to you, you will find a way. If not, you'll find an excuse. If you want to build your long term wealth there are many options available. Before going through some options, knowing yourself is critical. Only by knowing your goals, strengths and weaknesses can you truly understand how best to plan your budget, savings and portfolio. You can read more about knowing yourself in my blog here

Why Cryptocurrency?

Today there are more people than ever before looking to cryptocurrency as a potential for long term growth. This is not surprising as it has returned far greater highs over the last 10 years than real estate, stock market or commodities. As it is becoming more widely adopted by mainstream businesses, individuals and governments, and adapted for a wider technological use, it shows great potential growth. Blockchain and cryptocurrencies have a wide utility and are disrupting many industries – from music, hedge funds, voting, security, advertising and many, many more. Personally, I believe everyone should consider holding a cryptocurrency portfolio – even if it's simply as a hedge and only contains Bitcoin. Getting involved with cryptocurrency is not without risk but the rewards can be astronomical. Always ensure any decisions you make you are confident in and have done your due diligence. If you would like to learn more about choosing coins you can click here.

Why be consistent?

Being consistent is HARD. Most people fail to consistently stick with anything over the mid-long term – be it a budget and savings/investing plan or a diet and exercise plan. This is why many people have both automation and chosen consistent investment options in place that suit their needs. This often includes retirement funds and savings accounts but there are other options available. You may have a very tight budget, live in a country where automation is not available, or simply wish to have control over what is placed where on a regular basis. I have two fantastic platforms that are low risk, registered and compliant in up to 140 countries and offer an easy way to add to your portfolio an amount and at a time that suits YOU.

Easy Consistent Options for Growth

Nodexo is a fantastic way to get involved with Masternodes at a low price. Currently offering masternodes in 8 different coins with more being added, Nodexo is an EU registered company, affiliated with The Crypto Police. Returns are based on the masternode returns (determined by coin choice, currently roughly between 20 – 110% a year) and fees are taken from the Masternode returns at 5% – a nominal fee for the work in setting up and maintaining the Masternodes themselves. If you would like to learn more about Masternodes read my blog here or to register for an account with Nodexo click here

CoinBundle is a fantastic, registered and insured platform that allows you to buy a choice of 6 preset bundles of cryptocurrency from as little as $10 in either fiat or crypto. This is possibly the easiest way to start building a basic cryptocurrency portfolio. If you spend $100 or more we both receive $5 as a thank you from CoinBundle. Learn more in the Shop or register for free here

If you are considering using one or both of these platforms you will want to ensure you are consistent and have the ability to regularly contribute especially if you start with a low amount. REMEMBER the easiest way to grow an account is to have a set and forget system in place – in other words automatic contributions made consistently. If you decide more automation is something you are interested in check out my blog here where I cover some options for easy, automated savings.

 

Click on Shop to access some helpful PowerPoint presentations (Getting Started, Creating an Alt Portfolio and Platforms for CryptoGrowth) to learn more about portfolios and platforms and of course subscribe to my fortnightly emails to keep updated.

 

To access a simplified 3 month plan customised to YOU and your risk tolerance, budget and goals click here for my 3 month Portfolio Plan. Alternatively check out my freebies under start here for some fantastic PowerPoint Presentations to get started today!

 

How to Save Automatically – Tools and Strategies Below

How to Save Automatically – Tools and Strategies Below

Automation = consistency = growth

Please note: this article may contain affiliate links where I receive a small compensation for referral at no charge to yourself. 

Everyone wants to grow their portfolio of wealth. With the demands and pressures of everyday life this can often be easier said than done.

The biggest strides you often make are due to the small things you consistently do. This is why superannuation funds exist – to automate regular savings, hands free deposits in order to provide a large lump sum at retirement. The benefit of this is that people enjoy the benefit of compounded returns (where your interest also earns interest), a larger final amount and less reliance on the government or society.

When savings is automated it generally becomes ‘forgotten' funds (out of sight, out of mind) that are able to work and compound for your long term benefit.

 

In order to maximise your returns you should

1Know yourself – your risk tolerance and goals

2 – Educate yourself in the market you want to invest in

3Know the businesses – their risks and benefits

4 – Ability to automate or prioritise payments (consistency)

5 – Ability to compound your returns to achieve greater growth

 

Why is automation important?

Automation means that it's far less likely for your portfolio to be negatively affected by those instances where life gets in the way.

Having an easy, hands free, compounding platform to grow your portfolio, will lead to faster growth over the long term. You should always review of course any business thoroughly for their longevity, all potential charges within the business or platform and weigh up likely returns based on historical data. Check out my article here that discusses Signs of Online Scams for tips in doing your due diligence.

However, the biggest determining factor in your portfolio growing is the action you take. This is YOUR future and no one else can make you take action.

 

Raiz

I love the platforms I use to automate my portfolio growth.

I have Raiz (for Australia only) which is a fantastic fiat option to grow a portfolio of funds – very similar to retirement accounts. You can choose from 6 different portfolios such as Balanced or Aggressive. Raiz rounds up small change from every purchase on your bank account, you may add one off payments as well as regular automated deposits. Raiz also offers cash back in your account for purchases made online through their partners and even super accounts for retirement.

This last year has returned the average investor 12.4%! Funds are secure and available to request a withdrawal immediately. There are various similar microinvesting platforms available around the world – The UK has Money Box, USA Acorns and New Zealand either Sharesies or Invest Now. More information on Raiz including the link can be found here

 

Amber

A platform very similar to Raiz is Amber (only in Australia at this stage) but the round ups instead go to purchase cryptocurrency automatically and regular payments can also be made from as little as $5 (note roundups are currently no longer available with plans to use a new third party to resume round ups in the near future).

In Amber, Cryptocurrency can be traded, bought, sold or sent to your private wallet as they are also a fully registered exchange. This is a great option for those people who are risk averse, just starting out or wanting to bolster their portfolio consistently from round ups or one off payments.

This is a mobile based app so best to set up directly from your phone. Click here to register directly or via the shop. A similar product for the USA only is Coinseed. If you register using the link here you will receive a $5 credit to your account. 

  

Coinbase

Another option for automation and ease of use has to be the Coinbase exchange!

Coinbase is available for use in 33 countries, including America and Australia. Receive $10USD worth of Bitcoin when using my link here and depositing at least $100. A recent feature is now the ability to make regular deposits to recur at a time and amount that suits you. This is fantastic in allowing easy Dollar Cost Averaging and making sure that your portfolio easily grows hand free. To save transaction fees you can use Coinbase Pro (available in more limited countries) and also another great little free service Coindca which offers a way to purchase by marking buy orders through the day using Coinbase Pro.

Coinbase is also currently offering an airdrop for a variety of coins, including Stellar, 0x and ZCash once short videos have been watched. It's a great way to both learn and earn. You can register here.


 

 

Non-automated options

I have other crypto and fiat based options which I use to consistently grow my portfolio that are not automatic. You can read about them here. Whatever you do, take action today. The more you delay, the less opportunity you have to compound which will affect your future wealth.

Click on Shop to access some helpful PowerPoint presentations (Getting Started, Creating an Alt Portfolio and Platforms for CryptoGrowth) to learn more about portfolios and platforms.

To access a simplified 3 month plan customised to YOU and your risk tolerance, budget and goals click here for my 3 month Portfolio Plan. Alternatively check out my freebies under start here for some fantastic PowerPoint Presentations to get started today!

 

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