Avoiding Wall Street Fads – Investing Locally and Creatively

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How to Get Creative About Wealth Creation

What does it mean to take a creative approach to making money? Most importantly, you don’t have to do what everybody else is doing. Conventional wisdom often tells us to follow the herd, but when the shepherd is wrong, so to speak, that has disastrous consequences for everybody. Instead, try looking for opportunities that won’t put you at the mercy of someone else.

Investing always depends on some degree of trust, since you’re effectively throwing your assets in with someone else’s to support a common goal. However, scale counts for much more than many people realize when making investments, and you can increase your success significantly by putting your money into smaller scale ventures.

Consider this: instead of entrusting your life savings to an IRA or 401k that will make your financial decisions for you; you could use a self-directed IRA to become your own bank. Self-directed IRAs offer you a much broader range of investment choices than conventional options, many of which have the potential to be more secure and grow faster.