Build Wealth

5 Esoteric Ways to Build Wealth within 5 Years [2024]

Why build wealth?

Building wealth in five years is an ambitious goal, but there are several reasons why it may be a desirable time frame.

  1. Time is of the essence: The earlier you start building wealth, the more time your money has to grow. By building wealth in five years, you’re giving yourself a head start on reaching your financial goals and building a secure financial future.
  2. Short-term goals: Building wealth in five years can help you achieve short-term financial goals, such as paying off debt, saving for a down payment on a house, or funding a child’s education.
  3. Life events: Sometimes life events, such as a job loss or unexpected expenses, can make it difficult to save for the future. Building wealth in five years can help you prepare for these events and ensure that you have a financial cushion to fall back on.
  4. Peace of mind: Having a solid financial foundation can provide peace of mind and help you live a more stress-free life. Building wealth in five years can help you feel more secure and confident in your financial future.
  5. Opportunity cost: The longer you wait to start building wealth, the more opportunities you may miss out on. Building wealth in five years can help you take advantage of investment opportunities, real estate deals, or other potential financial windfalls.

It’s important to note that building wealth is a marathon, not a sprint and the five-year time frame is just a goal. The most important thing is to start building wealth, no matter how much time you have. Building wealth is a continuous process that involves discipline, patience, and a long-term perspective.

If you’re looking for more esoteric ways to build wealth within five years, here are a few ideas to consider. These are very risky ways to build wealth and so far, I have only done the first two.

5 esoteric (and high risk) ways to build wealth

  1. Cryptocurrency: Cryptocurrency, such as Bitcoin and Ethereum, is a highly volatile asset class that can provide huge returns in a short amount of time. While it is a relatively new and unproven investment, many experts believe that it has the potential to change the way we think about money and finance. However, it is important to understand the risks involved and do your own research before investing. The crypto market is highly speculative and the prices can be highly volatile, so it’s essential to be well-informed and invest only what you can afford to lose. Cryptocurrencies like Bitcoin went as far as USD65,000+ before crashing down to USD17,000. If you have the stomach for volatility, then it may be a good time to put some money into it. In Switzerland, a simple way to buy and store Bitcoin if you are new to this would be to use an exchange like Bitcoin Suisse.
  2. Real Estate Crowdfunding: Real estate crowdfunding is a relatively new way to invest in real estate. It allows investors to pool their money together to invest in real estate properties. This can provide a way to invest in real estate with a smaller initial investment and potentially earn higher returns than traditional real estate investing. However, it’s important to thoroughly research the platform and the properties being offered before investing, as well as the risks involved. In Switzerland, there is an established platform called FoxStone which allows you to crowdfund into their real estate projects. There are two way – buying shares into a property or lending them money for a fixed interested over one or two years. Choose the second option as it is less risky.
  3. Angel Investing: Angel investing is another unconventional way to build wealth within five years. It involves investing in early-stage companies in exchange for equity. This can be a high-risk, high-reward strategy, but it can also provide the opportunity for significant returns in a short amount of time. However, it is important to understand that many early-stage companies fail, so it is essential to thoroughly research the company and its management team before investing.
  4. Day Trading: Day trading is a strategy where you buy and sell securities within a single trading day in order to profit from short-term price movements. While it can be a high-risk strategy, it also has the potential to provide quick returns. However, it’s important to understand the risks involved and have a solid understanding of the markets and trading strategies before attempting to day trade.
  5. Alternative Investments: Alternative investments, such as art, wine, and precious metals, can be a way to diversify your investment portfolio and potentially earn higher returns. However, it’s important to understand the specific risks and costs associated with these types of investments before diving in. Additionally, it’s important to seek professional advice to understand the market and the risks involved before making a decision.

Conclusion

In conclusion, building wealth within five years is a challenging goal, but it is possible with the right mindset and strategies. The five strategies discussed above, cryptocurrency, real estate crowdfunding, angel investing, day trading, and alternative investments, are unconventional ways of building wealth, and they can provide the opportunity for significant returns in a short amount of time, but it’s important to be aware of the risks and seek professional advice before making any investment decisions.

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