Everyone wants to know the secret to getting rich but we all know that after studying the likes of Warren Buffet, Bill Gates, Jeff Bezos, Ray Dalio and more that they make smart and strategic investments in different asset classes which allow them to continue to compound their wealth.
Laci Kay Somers is a multi-talented artist- being a singer, model and social media influencer she is continuing to prove herself to be a savvy businesswoman that is focused on diversifying her wealth and not depending on one vertical.
She goes on to mention, “In an ever changing world, the worst thing you can do is be dependent on one industry as disruption is happening everywhere, and you should never rely on one income stream to make ends meet, that’s how you get yourself into trouble. With Uber disrupting the taxi industry, and Netflix disrupting Blockbuster, to now Banks being disrupted by blockchain technology and digital currencies, change is exciting but it can be difficult if you lack the knowledge to capitalize on it.”
Credit: Laci Kay Somers
Laci continues to study different asset classes that will generate and add to her growing portfolio of investments but we all know with so many options available from startups, real estate, gold, silver, bonds and others, it can be difficult to differentiate and decide which ones to invest in.
“I would only be scared to invest in specific asset classes if I had no understanding of the industry or my risk tolerance towards it. I am very smart and take calculated risks when it comes to investing” Somers mentions.
Somers discusses her investing strategy and shares how she is able to profit from her investments and maximize her upside.
“I take the time to learn about the asset class/industry/company. I am a macro and long term investor when it comes to analyzing my investments which are done through studying historical data and trends. The key to building wealth in new industries is to take calculated risks with trusted advisors, and know that the bigger your calculated risks are, the bigger your rewards will be. I prioritize putting a large percentage of my income into investments that will continue to generate and pay dividends long term.”
Only time will tell on the success of Somers calculated financial risks, but there’s one thing we know- having access to the best intel and team in the business world, there’s nothing that will stop her from reaching the top.
Investments are risky endeavour, but that’s how you build wealth, and scared money never makes money.