What are you scared of? With the ongoing Covid-19 pandemic, we live in one of the most uncertain times in history. But you should see this as an opportunity. Throw away your old 401(k) and take control of your retirement savings.
The 2008 stock market crash showed just how unsafe these investments are. In fact, to gain stability, you need to ditch traditional investments. This issue is too important to leave to financial advisors. Do it yourself instead.
If you need inspiration, take the story of Tim Schmidt. This internet entrepreneur has proved that non-traditional investments work. Read on to find out how you can benefit from doing it yourself retirement investments.
Tim Schmidt has always been an entrepreneur. Age 10, he was helping out the neighbors by cutting grass and moving snow. This was his first profit-making business, but he didn’t stop there. In college, he ran a successful business out of his dorm room. He was customizing CDs and promoting parties. Once more, Schmidt had shown his talent for business.
This led to him landing a nicely paid job with Accenture. Life was going well. However, this is when the stock market crashed. Schmidt lost everything, his job being put on hold for 24 months. Being a restless kind of guy, Schmidt couldn’t just sit and wait. He had no idea when the economy would pick up.
So he took a gamble and moved to Florida. Here, he was able to become a sales agent at an SEO marketing company. This was his big move into the tech business. Schmidt had proved that you find success by taking action, not just sitting around and waiting.
Starting A Retirement Fund
Schmidt went on to found a digital marketing business worth many millions of dollars. At this point, he needed a retirement fund, which was an idea he got from his former roommate. In all his life experience, though, he knew a traditional fund wouldn’t cut it. Schmidt never found success by relying on others, but by taking action himself. So Schmidt launched IRAInvesting.com, a website where he could track his progress.
Rather than sending his money to traditional, so-called safe investments, Schmidt put his money into real estate, cryptocurrencies, and precious metals. He did this because these are the industries he knows well. If you stick to investments in your areas of expertise, you’re more likely to see a healthy return.
When asked for another example of investing in what you know, Schmidt says, “My investment partnership with Graze, a Food Hall in the North Loop of Minnesota. It isn’t possible to enter into groundbreaking opportunities like this with traditional retirement investing. But my self-directed IRA account makes this unorthodox investment possible.
If you learn just one lesson from Schmidt’s success, it’s that the non-traditional route is best. This can only be achieved by taking control of your investments. You can invest in just about anything. No investment is perfectly safe. But you’ll learn from your mistakes and figure out the best path for you.
Learning From The Best
If you want to learn more, then check out IRAInvesting.com. Here, Schmidt transparently lays out his every investment. He’ll let you know when he gains and when he loses; when he’s right and when he’s wrong. It’s not an exact science, but success comes from having the right attitude.
This is what Schmidt has in spades. Follow his investments in real-time to be inspired to live life in a similar fashion. Right now, it’s interesting to follow Schmidt’s thoughts on the Covid-19 pandemic. Much like the global financial crash of 2008, we live in uncertain times.
Financial markets are being hit badly, and many people are losing money on their investments. However, it’s still possible to turn a profit, and Schmidt can help you do that. You can also check out Schmidt’s book ‘Amplifying Average’.
This is another great guidebook on how to live life on your own terms and get the most out of every opportunity. You’ll learn to break your daily habits, escape your comfort zone, and achieve more than you would through traditional methods. So ditch the tried and tested methods. You know what’s best for you. Invest in yourself and your retirement funds will take care of themselves.
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