Men's LifeStyle Blog

Saving is one thing that should be done by everyone to have a bright future. If you are an entrepreneur then this becomes a priority. Why? Having a business that is flourishing at a very fast pace is great, and can bring financial reward, but in terms of retirement and investments, that is something you must handle on your own. “When most people work for a company, they have a 401K and retirement fund set up for them and handled by the company. Entrepreneurs must take care of their financial future themselves,” says Christopher VanDeCar, CEO of Optimally Organic.

A nest egg is a substantial sum of money which business owners save for investing and retirement in the future or save for a specific purpose. In other words, the money which is sidelined for use in future emergencies and urgent needs is termed a nest egg. Nest eggs do not always relate to money – they are also assets and other monetary resources obtained for the same purpose.

How should you build a nest egg?

There is a specific way to build your nest egg because doing it in the wrong manner will lead to very less profit or won’t even serve the purpose. You may think that depositing the money in the bank is also saving but how much return will you get from it?  The goal is to build a solid asset that is unlikely to depreciate.

Invest in assets that gain equity

There are many different assets that gain equity, from commercial property to holdings in private companies, whether that is through stocks or investing in startups. “The key is to be very careful and any deal that seems too good to be true generally is. When investing in the future you should be more concerned with long-term stability than a quick gain,” says Luqman Khan of top dash cams review website Wireloo.

Invest in rock solid companies

Investing in the stock market can be very rewarding, yet also very risky if you are not careful. “Rather than trying to hit a home run, invest in companies that show long-term promise. Companies like Amazon, Apple and Google are not going anywhere, and they will likely provide a nice return over time. Companies that appear to be a fad or overnight successes are more of a gamble and your money is not entirely safe when you invest in companies that are not as established,” says Jake Braun of ChopperExchange, a websites that highlights what is your Harley worth.

Leverage your house

Yes you read that right. Your home is one of your most valuable assets when it comes to building your nest egg. The value of your home will grow over time and it is a onetime investment. You can purchase a nice house with the money that you would normally deposit in the bank, and the return will be greater.

“You can also take loans against the house you own to fund future ideas and projects or to invest in other opportunities. Real estate is one of the best assets you can leverage to help grow your wealth,” explains Darryl Howard of NuWays MD, a medical spa in Boca Raton.

Hire a smart financial advisor

This is the first thing you should do if you want to wisely invest. An advisor will help you with your decisions like where to invest, how to save money, get you familiar with the market conditions, etc. A financial advisor acts as a guide to the financially blind, and it’s always best to get the help from an expert. You don’t want to make costly mistakes that will put your financial future at risk.