7 Steps to Create More Financial Success in Life- Day 5

5. Have a diversified investment strategy Like I mentioned, I work
with a lot of solo entrepreneurs and business owners and I see that
the mistake that we all make is that we only focus on one thing.
Maybe you're a business owner and your business is your primary
source of income, or maybe you're a real estate investor and 99% of
your assets are in real estate but think of this - all markets
crash. Years ago, the real estate industry crashed and investors
lost the millions that they invested. Today, people see the beauty
of the growth of certain industries, but they mostly do not
consider the crashes in the market. We become so focused on the
beauty of our investments and keep on thinking that the market is
always going to get back on track, but it takes time. That happens
in all markets, not just in real estate. I realized that it's not
one thing that's going to make you healthy. It may get you rich
quickly, but it will not be sustainable. It is something you could
compare to a house - there are many houses that look beautiful on
the outside, but inside, it is not solid. When you build your
house, wouldn't you want it to be solid inside and out? How many of
you would want to have a house that's solid enough that it could
weather any storm that may ever come? If that's what you truly
want, having a diversified portfolio is the key. I believe that
investing, it's all about strategy. It's not about what kind of
vehicle you have, it's about the purpose of the vehicle - the
reason that you have this vehicle in your portfolio and if you
really know how to use it. I help a lot of people plan their
businesses and finances and the majority of them do not know the
purpose of the vehicles they have. Some people have a living trust,
but they do not know if what they have will deliver what they need
when they need it. Let's say you have most of your assets in one
kind of investment, it could be real estate or it could be in
stocks. When one market crashes, the other one gets affected. For
my clients, I create a balance. I have this principal-protected
investment that doesn't lose any money when one market crashes. Why
is this so important? Because the best time to invest your money is
when the market crashes. When this happens, most people look at
their money and find that they do not have enough to invest
anymore. Your principal-protected investment is what will help you
create multiple streams of income. Let's say you have this, and the
real estate market crashes. You can easily take from it and invest
it so you can grow it. That's how they generate massive wealth.
Even Warren Buffet says diversification is the key. If you want to
talk about what kind of business