How To Invest: How To Invest Your First $1,000

– How to invest, investing
your first $1,000. Maybe you’ve just earned
you first paycheck, or maybe you have been
working for some time, now you’ve put aside
a little bit of money, what is the best way to
invest the first $1,000? Now, let me give you a few options. There are a few things that you could do. Number one, you could just blow it, right? You could spend that money on
drinks, or on a little trip, or you can spend that money
on buying some video games, and things like that. You could, could just blow that 1000 bucks and you won’t get a return or
anything like that, in fact, but you’ll get some pleasure out of it. It’s leisure money, you could do that, but that’s not called investing. That is just spending money. Now, another thing that you could do is maybe you’re thinking about, well, maybe you can buy a
little bit of mutual fund, you can buy cryptocurrency, or you know, you use that money for something, and you could do that, too. The question is even if
you put that money aside and you invest it for long term, how much of a difference
does it actually make to your financial future, right? Another thing that you could do, which may be something you could do, maybe you have some
credit card debt, right? Or maybe you have some debt that you want to pay off that
has a high interest rate. Obviously if credit card, it’s gonna be very difficult for you to put that $1,000 to work that will get a better return than the interest that you’re
paying for your credit card, so maybe use that money
to pay off some debt. That may be a way to go as well. But, so I always say you
don’t really actually have a debt problem, you have
an income problem, right? Think about the debt that
you have right now, right? The amount of debt. Maybe you have a few
thousand dollars in debt, maybe you have tens of
thousands of dollars. In some cases, maybe even $100,000, your student loan, your credit card, your mortgage, whatever that you have, but I want you to think about
with your current income, how much you’re earning right now, how long would it take for
you to pay off that debt? Comment below. How long would it take for
you, with your current income, to pay off the debt, the money
that you owe to other people? Chances are, a long, long time, so you don’t have a debt problem, you have an income problem,
and at the end of the day, your income problem really
is your skill problem. You don’t have an income problem, you actually have a skill problem. You don’t have a valuable skill that you can offer to the marketplace in exchange for more money
so you can earn more income, so that $1,000, I’ll
share with you what I did. Number one, I did not just
go out there and just blow it and spend money on stupid things. I did not do that. Number two, I did not use that
money to pay off the debt, because I was owing people so much money that that little bit of
money, that didn’t help, because all the businesses
that I got into that I fail at, all the money I owe, that $1,000 didn’t even make
that much of a difference. I know that wouldn’t make a difference. What I did is I invested
money into myself. I believe the best investment that no one could compete
is you invest that dollars into yourself, improving yourself. Now, for some, it maybe is taking a public speaking course, right? Going to Toastmasters, spending a couple hundred dollars to improve your communication skills so you could be more confident
when you talk to people. For some, maybe it’s going through a personal development course that would help you to
develop that self-awareness, knowing yourself more. And for some, maybe it’s
learning how to sell, or for some, it’s learning
how to talk to people, for some, it’s learning
how to do copywriting. Whatever it is, or how
to do digital marketing, but invest that money in yourself. Buying that book, $20, $1,000
you can buy a lot of books, and if you buy Kindle and
eBooks, you can buy even more. Maybe it’s going to a
seminar, going to a workshop. Maybe it’s take an online course. Whatever that is, invest in yourself. That’s the best investment
that you can make. Imagine this, you are, let’s
say, making $2,000 a month, $24,000 a year, but by using that $1,000
and you invest in yourself. Improving your skills,
improving your confidence, improving different areas of your life so you can deliver more
value to the marketplace. Now, let’s say, hypothetically,
you double your income. Instead of making 2,000, now
you’re making $4,000 a month. $4,000, that’s $24,000 in
addition to income to you. That kind of return from
$1,000 to $24,000 a year, my question is, what kind of investments would
give you that kind of return? None in the world, and
that’s just the first year. Once you get good, you can
keep earning and earning, after year after year after year, you’re still producing income from something that you learned, could be two, three, five, 10 years ago. I am still creating wealth, earning more from the
skills sets that I developed many, many, many years ago. No one could take that away from you. The government cannot tax it, no one can steal that from you. It is yours. It is yours, so that
$1,000, invest in yourself. It will never go wrong. Your first $10,000, invest in yourself. We invest in yourself. Believe in yourself. Bet on yourself. Don’t bet on others, don’t
bet on a stock, right? Invest in yourself first. Once you earn more money, yes. Once you have developed
the earning abilities, then yes, that extra, now, you don’t just have $1,000 put aside. You have way more that you put aside. Then yes, you can look
into other investments, and that’s my suggestion for you. How to invest, investing
your first $1,000.

100 thoughts on “How To Invest: How To Invest Your First $1,000”

  1. What is the biggest problem you’re facing

    in your life right now?

    Comment below. I might just make a video

    and solve that problem for you.

  2. Meh. I doubt you will double income after reading a book.. or 2 or 5…
    Pick a top tier book and explain it in a 15min video. Maybe id get more out of it.

  3. What about buying $1000 in fortnite vbucks and becoming a video game streamer? The world doesn't have enough of those right?

  4. I’m not here to be negative, but I’m pretty sure people will hear this and still do nothing. How many damn videos will it take for you to make a move ?. You should already have internal motivation within yourself simply from being a wage worker, if that’s not motivation I don’t know what is.

  5. I made 3 million dollars in 2 years when I was 18 I bought my first car and it was the BMW i8
    I did online trading now I own restaurants I own property which rent out I also buy and sell cars
    All thanks to danlok for teaching me several new things to help my financial future

  6. Very well said; This is a question that was bouncing around the sides of my Brain, and I didn't want to sit around, as it continued to.

    Grateful for the advice, this video is an investment into us, into me.

  7. It's not a income problem. It's spending ur money in the wrong way. Ans yea I agree sometimes it's a income problem but most of the times when people are in debt (in my country as example and I life in the Netherlands btw), its there own problem they don't know how to spend money properly.

  8. Save your $1000 and get a library card or listen to audio books on YouTube. There is so many free resources.

  9. Well this is the best fucking advise I've ever heard about investing in my entire life, btw I just finished reading F.U. Money and now I'm on my way to my financial freedom, thanks a lot Dan!

  10. Ways to make more money make a video on how to make more income how to get a bank to loan you money to open a business …

  11. Thank you verry much Dan ! That was one of the greatest advices i ever heard. Verry simple but good 🙂 . Mostly in Life its the little things that have the biggest impact.

  12. The biggest problem I'm facing is, myself. I can't seem to hold a job or save money. I have ideas but I Can't figure out how to make them profitable.

  13. Invest in yourself. Improving your skills. Improving your confidence. Improve your communication skills. Improve your writing skills. Bet on yourself first.Thank you Dan Lok.

  14. It's definitely a good idea to invest in self improvement and we all should do it if we wanna be successful. But don't forget that at the end of the day, he profits from courses he pushes to people. So don't forgo investment in other assets as the stock market as well.

  15. I have invested 50,000 us dollars for my flying course.after that I had to get back to my country Bangladesh.then nothing job no income

  16. My salary is 2000 euro and I can save 1000 euro per month but I don’t know where I should invest to make more .

  17. First of all – this is really some great advice! I'm an structural engineer and I'm pretty analytical about everything I do in my life and I've been asking a similar question to myself – what should I do with that relatively small amount of free money that I have? I've understood that investing in stocks/index funds (at least doing speculations about future based on realistic annual investment return rates) won't make enough difference because for me to come even close with passive income from these types of investments to my salary (I just think about it as a reference) would take decades, which is not good enough. I've come to a simple conclusion – for folks who have relatively little money to spare the only thing that will actually make a huge difference, in the long run, is the ability to add excessive amounts of value to anything, that is, producing exceptional returns on equity (with reasonable leverage or without it, it is, of course, personal preference, I don't mind using some leverage if I have options A, B, and C ready to not go underwater with my plans). As for my narrow scope of understanding about business, In reality, earning huge returns on equity is only possible either being self-employed (for this example not important in what form, be it "LLC", etc.), or better yet employing others in a business which is not asset-heavy, for example, engineering services, programming, consultation, etc. What I realized about this, although did not put it as straight to myself as Dan just did, is that for most to achieve such a situation (being the employer in a business which earns high returns on equity) one must have an enormous skill-set, most probably starting from background in the sector in which the business operates, secondly – marketing skills – because I've come to a conclusion from my personal life experience that in most cases the owners of these businesses are not the best professionals in these fields, rather some smart people who know how business operates and the most important thing – how to sell the "product", because when you have "orders", you'll find the best people for your company to fulfil them. There are of course some other skills you need (I'm not saying you need to be an expert in all of these, but you do need some understanding in all of those fields to be competent enough to set up a team of professionals). So, if you are not in a situation where you own a nice business and earn a lot (which is when you can start putting your big pile of cash in stocks, real estate, etc), you most probably need to invest in your own skills to get to a place where you can comfortably live, lets say, a middle-class life by using only 40% of your income, thus freeing up the other 60% for typical investments (% proportions just an example, the exact may vary).

  18. Dan, I love this video! People need to ask themselves, “how hungry are you” to change your life and invest in YOURSELF?

  19. You don't understand the fact that this "Amazing business man" is telling you to "invest in yourself" because he wants YOU to buy his book, and to make him richer. I bought that book, because I was fooled by his speech, and trust me, it is a waste of time and money.

  20. Very surprise to hear that the thousand dollar was not used for financial investments. But refreshing to learn that it went towards personal self help

  21. Placing this into perspective brought a bit of clarity on where my issues have been after transitioning out of the military.

  22. "Yeah invest in yourself and buy my courses that you contain the exact same info you can find anywhere else for free so me and my peers can make more money and you can feel good about yourself for a while and keep buying more of my stuff and watching more of my videos." if Every motivational speaker was honest

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