ASX Education: How to make a Million
I ask for Stupid Questions in my newsletter and I get them. Here’s one memorable one:
“I have $10,000 and want to turn it into a million dollars. How do I do it?”
You’re thinking “How Stupid” but there are no stupid questions in this game and if you think about it, it’s actually a really good question. So let’s try to answer it.
First thing to do is to accept that you will not achieve this goal without being prepared to lose all your money. You are going to have to take a risk. You know that already. Next.
Obviously you will not achieve it in the bank, in cash, in property or in managed funds. There is no “average” return in any asset class that will suit you. You need to win Tatts Lotto or...Continue Reading