Today i want to put my focus on making money with your money.
Let's use and example. Every example is without tax calculation.
If you take $1000 and put in your safe, then every month for 10 years you put in $100 each month.
This will in total give you $13.000. Here is the sad news. If you live in a country like Norway, you will experience inflation of about 2,1% each year. This means that your money will be 2,1% less worth everyday. In 10 Years this means that your true value will no longer be $13.000 dollars. Let us say you started your savings in 2007. with $ 1000 and started saving. If you compare the value of a totalt of 13.000 dollars in 2007 and the same amount of money in 2018 will be worth in comparison about 10.000 in true value. If you did not understand this. I will try to say it with other words. in 2007 something that costed $13.000 today it will with inflation cost about $16.325. So putting your money in the safe will make you loos money. In this true example the inlation rate har been 2,1.
So what about putting them in the bank at a savings account.
We use the same money again:-)
We start with $1.000 and safe $100 each month.
This will with 1% interest rate give you a value of 13.727.
So again you can see, If you put your money in the bank and only get 1% rate you will also "loos" money.
So what do you need to do . Well save your money on something that will give you more than a 2,5 rate.
This will give you the same true value of the money, but not calculated taxes on your profit.
If you really want to earn money you have to invest with something that gives you more than a rate higher 4,5%.
What instrument you choose is up to you!!!
There is so much possibilities of what you can invest in. I have experience with properties, stocks, currencies and funds.
As you probably have noticed, Steemit also is an investment. What your take will be will depend on how you use it.
But for the easy example let us look at this with a 20% rate. You will get a lot more if you use all the advantage that you get by using all the opportunities. But just for fun i will show you the value with this rate.
Your value, with investing $1.000 and $100 each month will give you a value of over $40.000.
This is without the increase of the Steem and the SBD value increase that will come in the future:-)
So what is your choice?????
How do you save your money and what is the strategy?
Best regards @EveryDayCoach.