As a business owner and entrepreneur, you will presumably be aware that one of the core principles of building wealth is to have multiple streams of income. If you have ever had any professional financial planning done or had advice from financial advisors, no doubt they too will have told you that the more streams of income you have, the more secure your financial position will be.
As for what those income streams of income should be, in truth that is up to you and will be influenced by the time you have available, how much additional income you wish to earn, and even what income sources interest you. You may seek advice on the matter and if you speak to a financial advisor they will undoubtedly discuss with you investments being a solid income source.
Often when entrepreneurs or even ordinary citizens hear the term “investments” they believe it to be a risky route to follow. That is understandable given the stories you hear of people losing fortunes due to bad investments. As any financial advisor will tell you, thankfully, these scenarios are the exception rather than the rule with most investments being a safe and secure way of increasing your wealth. However, that comes with a caveat.
The caveat is that investing does need some careful thought and consideration, and just randomly investing your wealth with no rhyme or reason is a recipe for disaster. You can also take steps to ensure that your risk is minimised and if you read on we have outlined seven tactics that all investors should be aware of as they can ensure any money they invest is safe.