Updated: Mar 5, 2018
I’ve never given much thought to investing and with all the reading I’ve been doing I feel like I’ve been wasting my money or maybe haven't given it the priority it should have. I’m sure there are many others just like me, where its crossed your mind but then you just don’t take action.
One of the reasons on why people should invest repeats its self on many websites and that conclusion is the idea of not having to work in the future and it all rounds up to two ways of making money is either working for it or by having your assets work for you. This means that if I do save up a certain amount of money each month I will only receive at the end what I saved, rather then making more by putting that same money each month in an investment and making my money generate more, this can be done by earing interest or selling assets that can increases throughout time.
According to the online Chilean newspaper http://www.emol.com a Global Investor Pulse study done by BlackRock showed that 60% of the thousand people surveyed invest their money through current and savings accounts, mutual funds (not necessarily in financial institutions) or deposits. Investing in money is very popular because money makes people feel safer, its familiar and people also have the misconception that currency does not lose its value. The study also shows that from the Chileans surveyed 61% don’t invest at all because they assure not to have enough money, 36% because they don’t know much about the subject. I guess Chileans are more conservative when it comes to where investing their money.
Maybe we are far away from investing in bitcoins and I myself have to admit that it still amazes me how people can invent anything nowadays and with smart people behind it and good advertisement people will just believe it, Bitcoin reached its price because the value people put into it.
This does not mean Bitcoin is not a good investment, its worked very good for many. According to www.cnbc.com “About 40 percent of those between 24 and 35 have at least $1,000 in their savings account. That may not sound like that much, but 19-year-old bitcoin millionaire Erik Finman says that's enough to invest in cryptocurrency. The teenager has had some luck with the cryptocurrency growing up: At age 12, Finman used a $1,000 gift from his grandmother to buy his first bitcoin and by 18, he became a millionaire. He currently owns 401 bitcoins, which equals $3.4 million at a rate of $8,512 a coin”. None the less there are always those sceptics with this cryptocurrency, the article quotes “JPMorgan Chase CEO Jamie Dimon famously dismissed the cryptocurrency as "a fraud." At the Delivering Alpha conference presented by CNBC and Institutional Investor, he added, "It's just not a real thing, eventually it will be closed."
"I believe weather its investing in stocks, mutual funds, real estate or Bitcoins its still just a matter of investigating and trusting your gut and be willing to also lose what you have invested or gaining much more. "