Real Talk Video: How to build wealth
Build wealth by investing in what you know
AKBAR HASAN is a financial advisor who knows how to build wealth. He’s got lots of practical advice for those who are serious about money. In his first segment on Real Talk with Solomon Jones, Hasan talks Apple, the multibillion-dollar company whose techno-gadgets are in millions of homes.
The company recently executed a 7-to-1 stock split. Now, Hasan says, “Everyone can get in the pool.” Click the video to watch Hasan’s great advice on investing and building wealth.
The stock split reduced the price of Apple from over $600-a-share to under $100-a-share. Now everyday people can afford to invest in the makers of hot technological items like iPhone, iPad, iPod and more. The mega-company, which recently purchased Beats headphones for a cool $3 billion, was trading for around $91 a share at close of business on June 20. If you want to dip your toe in the water and take a swim with Apple, now is the time to do it, says Hasan.
Build wealth with common-sense strategies
[blocktext align=”right”]”Don’t spend cash on frivolous things,” Hasan says. Otherwise, it won’t matter how many investment tips you get. You won’t have the money to invest when it’s time to do so, because you’ll be broke. [/blocktext]
There’s much more to building wealth than following a hot stock tip, Hasan says. There is also everyday money management and common sense decision-making. For example, you should invest in products you know. There’s also another important piece of advice.
“Don’t spend cash on frivolous things,” Hasan says. Otherwise, it won’t matter how many investment tips you get. You won’t have the money to invest when it’s time to do so, because you’ll be broke.
Hasan says it’s okay to skip a Starbucks or two, to brown bag it for lunch once in a while, and to seek out advice when you need to do so.
Build wealth by seeking great advice
Hasan recommends that new investors consult an experienced financial advisor before diving in. Another option is to invest online. Hasan recommends several sites, including TDAmeritrade, Charles Schwab and Sharebuilder.
At the end of the day, though, Hasan says that no matter what kind of investing tools one uses, it’s always wise to do the research. “There’s a lot of websites [including] Nasdaq and Morningstar,” he says.
Want to learn more wealth building strategies from Akbar Hasan?
Click here for a video appearance by Akbar Hasan on Real Talk with Solomon Jones.
Solomon Jones is an Essence bestselling author and award-winning columnist. He is the creator and editor of Solomonjones.com. Click here to learn more about Solomon