Why Millionaires don’t Invest in these 4 things
In this video, Entrepreneur Network partner Phil Town explains how the rich often grow their wealth differently from others. Here are some of the common investments wealthy people avoid:
- Bonds. These investors are just interesting in maintaing their capital and not interested in compounding their money.
- Prepaid plans.
- Gold. Investing into something that you cannot immediately turn into cash is a risk. Gold, inevitably, is not an asset that earns money over time.
- Trends. Town references a modern-day phenomenon, cryptocurrency, as a trend that is taking off. Town personally knows a lot of people who invested in cryptopccurency and lost it.