Image Source: Global Panorama Forbes has released its new 2015 list of world billionaires, which details how the world&#x27s wealthiest investors are doing this year and the valuable insights for individual Canadian investors desiring to follow in a similar path. The Economy is Just Fine While some enjoy debating the health of the national and global economy, the data from the new 2015 Forbes Billionaires list shows that the economy is operating fine for those that are willing to make it work for them. Together the members of the list have seen their net worth grow close to one trillion dollars over the last year and nearly 300 new individuals achieved billionaire status this year as well. Age is Not One of the Numbers to Dwell on With 46 billionaires on the list under 40 years old, as well as aging veterans like Warren Buffett, age should not be considered a barrier for Canadians looking to increase their personal wealth. Age may be a motivating factor in demanding more from an investment portfolio or an added advantage for those getting started early and benefiting from compounding returns. It is clear from the list that age is not something that any Canadian investor should allow to hold them back. The Power of Partnerships It is incredible to see the vast majority of billionaires on the 2015 Forbes list are self-made, along with it are also two key takeaways Canadian investors shouldn&#x27t overlook. The first is the power of partnerships. Pick any name on the list and it is hard to see how they could have made it without others. Everyone on the list had help in creating, maintaining and growing their fortunes. This applies to Uber, Facebook, Berkshire Hathaway, Amazon, Alibaba and all of the other companies these billionaires have developed into modern day success stories. It also applies to the individual partnerships that investors have formed to invest together. While it is great to see so many self-made billionaires, it may also be shocking to see that very few billionaires attained their wealth from inheritances. If so few heirs have managed to grow their inherited wealth, Canadian investors should give serious thought to how they will instill good financial principles amongst the next generation, as well as selecting secure investments that can be professionally managed on behalf of heirs. Passive Income From the multi-billion dollar valuations of tech companies to the personal investments of these billionaires, the one consistent theme is passive income. These titans of industry create passive income streams and invest heavily in assets that can produce them. Real Estate Whether its providing the initial capital to invest, serving as a main investment vehicle, or providing a safe haven for excess capital; real estate is perhaps the one consistent investment and asset that all of these successful individuals have in common. Summary It doesn&#x27t matter your age or how you start your financial journey. As can be seen by the members of the Forbes Billionaire list, leveraging partnerships and acquiring passive income investments can build great wealth over the long term. By seeking out the investments and embodying these principles, more Canadians can experience greater progress toward their financial goals.

Leave A Reply

Skip to content