Many want wealth, security, stability and growth.
If given the opportunity, hypothetically someone gave you a million dollars. They invested the opportunity for you to do something and grow that million.
So, someday when succeed you pass the million to the next person to give them an opportunity to grow.
What would you do with that million?
How would you create a foundation for growth, stability, security?
****Please share ideas of how you'd use your million dollar opportunity to create more wealth for yourself.
What are good ideas and safe ideas? What is potential risks?
Can money create your opportunities or is it a materialized idea that you'd sink regardless? Is this concept the reason why many are not millionaire's and unsuccessful?
Ooh that's a great topic to discuss because there are 2 things that can happen: the person can turn that million in 100s of millions or end up in the same situation they were in before.
If someone where to invest a million dollars into me I would strategize every step. A million dollars is a lot of money and it's super easy to blow it all right away if one doesn't understand financial literacy.
I would do months of research within the industry that I'll be starting a business or investing in. You have to know your industry very well before entering, some might even say you have to know you industry as well as those that have been in it for a long time.
I would also split that money into stages so it doesn't all get spent. With each stage I would expand on my financial literacy. For example: step 1 would be to handle 10k then 50k then 100k and so on. I wouldn't go in all the way because that is a recipe for disaster. As I see the business grow, I will put more of that million dollars into it.
It would also be smart to put a portion of that money into stocks because as well know, in the long run stocks will hold their value and is a good security blanket.