Most of the time you will find us at Canadian Islamic Wealth sharing with you simple and easy ways to grow your wealth in a halal way. Many of the suggestions we have are things you may have heard before, found online and may not be all that complicated. But Why?
In our humble opinion, the best advice, especially for people starting their investment journey, is simple, easy to understand, and easy to do consistently. Advice that is difficult to implement rarely gets implemented, advice that is difficult to understand often is ignored and advice that is difficult to do consistently tends not to yield very good results.
So, if you are looking to begin your investment journey, first, you should ask yourself why you are investing. Second, you should start by investing a small amount. An amount you will not miss, an amount you will not touch, an amount that feels like you have not done anything. For some that is $500, others $50, others $50,000. Either way, it is easy and feels like nothing. finally, you should aim to invest a little bit regularly, again, $50, $100, $200 per month. It should feel easy like it is nothing. Over time, this really adds up and you begin to feel a sense of accomplishment and financial freedom.
Overall, we choose to give simple and easy financial advice because we know it produces results and is easy for our clients to implement.