MY Favorite way to build wealth 🤑 · InvestCEO with Kyle Henris

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MY Favorite way to build wealth 🤑

I mentioned in the poll from yesterday that my favorite way was NOT in the list of choices. Don't get me wrong...I love trading/stock investing, I love building businesses and plan to add real estate to my asset portfolio down the road. I even love crypto and the returns it can generate. All these assets can be great...(unless you lack my favorite...)

My FAVORITE way to build wealth is through...

✅Income producing SKILLS

Yep. Skills/investing in your knowledge is absolutely the highest return way to build wealth. In fact I would argue a "lack of the right skills" is the biggest reason for the growing wealth gap in America. Most people have skills that would make them successful....in a 1985 world. But today we live in the digital age, and in this age you're either going to make more money than you ever thought possible...or you're going to get left painfully behind.

Let's talk through some examples...

Many of you listed real estate as your favorite way to build wealth. I get it, everybody LOVES to talk about how great real estate is. And to be fair, it can be a tremendous asset. But if you don't know what you're doing how much wealth do you think you're going to build with real estate? (Spoilers...probably none. Most likely scenario is you lose money). The people that make money with real estate either create a business out of it, or have enough capital to find and negotiate the best deals. Both of these things require skill first.

Same thing with trading/stock investing. If you don't truly have the skill, you'll lose money. If you do, it can be the greatest asset in the world. It's the SKILL that is the separator...not the asset.

Now compare this to my current situation: