You'll need to own stocks. And pick
the right ones. Look for stocks
with good earnings potential and low
PE ratios. PEGs at or near 1. Pick companies
you know something about. Maybe a new
national food chain that has the best produce
and meat. Maybe a corporation with cars that run
without fuel. Or a biotech company, with a new
patented drug, that can charge a good price. Cuba
was discovered by Columbus in 1492 and first colonized
by Spain. It was under US influence until 1960
when it became a republic. Its minimum monthly wage
is 225 Cuban pesos, about $9 US. You'll need to
own bonds. Choose bonds with high credit ratings.
Diversify by picking bonds of different duration.
Perhaps low-cost mutual funds that have historically
done well. When you're young, you might go 90% stocks
and 10% bonds. Tanzania is a republic and the largest
country in East Africa. It exports cotton, sisal, tea
and coffee. It consists of 120 ethnic groups.
Tanzania’s minimum monthly wage, depending
upon the economic sector, is 40,000 Tanzanian shillings.
About $17 US. Then there's real estate. Particularly
commercial real estate and residential rental properties.
You'll want to put little or no money down. Leverage
is key. If you put 10% down, and the property goes up
10%, you've doubled your money. You'll get lots
of tax breaks. The daily minimum wage in Mexico
is 123 pesos, about $6 US. Eleven million people
live on it. Own precious metals. For inflation
protection. Gold 's the best. And keep some of
your assets in cash. To ride out economic storms.
Did you know the 15 wealthiest individuals in the world
have more wealth than the poorest 85 countries
combined? If you start early, and invest wisely,
you could be a millionaire while you're still
in your 30s. Then you can buy a villa on the ocean,
in a poor country, with 5 full-time servants.
They can live in the guest house. Be sure
to treat them kindly.
Gil Hoy is a Boston poet, sometimes confessional, currently vacationing in Cancun. He is a semi-retired trial lawyer and politician. He has a wife, three grown children, and a dog named Wilson.