Skip to content

3 Investment Habits We Can All Learn from Jay-Z

by on May 16, 2012

By Samantha Savory

Born Shawn Corey Carter but recognized by millions of fans as Jay-Z, this rapper turned mogul has an estimated net worth of almost $500 Million. Yep, that’s half a billion dollars in the bank and many expect him to reach a Billion dollars by the end of his lifetime.  What’s even crazier is that these numbers don’t even include his wife, Beyonce, and her net worth.

Mr. Carter accumulated his wealth by not just rapping, but by being a smart businessman and investor.  If you look at individuals of great wealth, they understand the importance of saving and investing. Although Jay-Z created his wealth by being an entertainer, there are several savvy money management and investment habits that we can gather from his past and use in our own life to accrue our own personal wealth.

1. Take calculated risk – Big reward usually only comes with big risk.  The key to this theory is to manage that risk based upon facts and logic.  Don’t be stupid and “hope for the best.” If you are new to investing, whether it be in the stock market or you are starting your own business, talk to experts in that field, learn all the possibility outcomes of your investment and make a decision based upon logic.

2. Stay focused and consistent – Jay-Z has become partial owner of a NBA basketball team, the Brooklyn Nets, a restaurant/night club in New York, 40/40, and a multi-million dollar clothing line, Rocawear, in addition to dozens of other ventures.  What is obvious is that he has focus and has stayed consistent with his brand, messaging and investment goals.  Being focused on your goals and staying consistent are two habits that we can all improve upon.

3. Follow the stock market – Although Wall Street’s reputation over the last four years of economic downturn have been lack luster, if you want to invest and accrue wealth, the stock market is a good place to start. Get a great understanding of the market, how derivatives work and all the factors that influence the price of a companies stock.  Jay-Z has said in several TV interviews that some of his investments were unsuccessful, but because he doing put all his eggs in one basket and was skilled when it came to investing, he was smart enough to rebound his personal finances. By becoming more educated, you will be able to make good decisions when it comes to your retirement accounts and other investments.  Don’t just listen to a financial adviser, really learn what stocks are valuable and why – this will help you achieve a higher level of personal wealth in the long-run.

Start monitoring and managing your investments and financial accounts with PowerWallet, a free personal financial management tool. Visit www.powerwallet.com today and start taking power over your finances!

Advertisements
Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: