As an entrepreneur, investor and multiple business owner, Tito says he cannot promote diversification enough to the world. Position your capital to grow aggressively. Apply this to active or passive income, capital gain and even earned income. Risk, whether financial or not, should be calculated equally and should be minimized by being spread across multiple streams. This strategy increases your longevity and financial stability in any failure event.
It’s impossible to calculate where you’re going without appreciating where you’ve been. Tito has had his share of investment mistakes and failures, from incompatible partners to products that didn’t deliver. Due diligence and focused research are important when diversifying. He wants people to be passionate, however, one must remove emotion when making investments in building a diversified portfolio.
He follows a set of basic principles to help with the process of financial diversification. It is often said that people become millionaires because they create multiple income streams. Tito says it’s not about figuring out how to acquire more money, but rather learning how to make your money make more money for you. He says it’s simpler said than done but with the correct checkpoints in place it can be accomplished. Anyone who has a passion and understanding of how money circulates and the ability to adjust in real time can create long term generational wealth.
Here it is; increase your income by using income, learn how to utilize credit correctly and learn how to manage your debt efficiently. These three basic principles helped him diversify his investments from entertainment and technology to stocks, insurance and real estate. Tito emphasizes experimenting with different ideas related to the stream of income and with experiments, comes experience. He’s not saying go put thousands of dollars into something you don’t know about. However if you can invest a couple hundred into an idea and see a return, maybe you should look further into that idea. If you don’t see a return, then it was a less expensive learning experience while moving forward.
He says one should be consistent and able to make decisions in real time before considering any chances of success or failure. Mindset is a big part of this process. If one has a scarcity mindset it’s going to be hard to create growth because of the lack of perspective. With an abundance mindset, one can see opportunities where others will not. He mentions to always reinvest a portion of your original earnings in other investments. He says the 80/20 rule helps accomplish this but he’d rather take it a step further and use the 20/80 rule. Basically, this is a strategy where one will live off of 20% of their income and save or invest the other 80%. The 20/80 rule isn’t for everyone because it means living on a strict budget but he says if you can, it will definitely help you reach your goals faster.
Being a mentor for many aspiring individuals in multiple fields, he strives to provide them quality information with all the knowledge he has gained throughout his years of experience. He really is genuine and really cares for people with a real passion for helping. People of this caliber generally seem to carry around a heavy bag that is filled with ego but Tito throws that negativity bag to the side and keeps things simple while always remaining authentic.
To know more about Tito Tahan, you may visit his website TitoTahan.com or follow his Instagram and Twitter.