DIGIVESTASI - The phrase "save to get rich" has been known to Indonesians for a long time. But today we know that saving money does not make us rich. In fact, if you save for a long period of time, the value of your money can plummet with inflation.

Currency cannot retain its value by leaving it in a bank that pays interest. This is because interest rates are often lower than the rate of inflation. Not to mention, banks charge administration fees that are higher than the interest paid.

No wonder veteran investor Lo Keng-Hong says that saving and saving will eventually lead to poverty.

"The value of our money is decreasing day by day, so keeping our money in the bank actually makes us poorer over time," he said at the Capital Markets Summit & Expo (CMSE). Mr. Loh Keng-Hong spoke as a speaker.

1. Invest in what you love

Bethenny Frenkel, a well-known New York writer and founder of Skinnygirl, says that wealth cannot only be achieved through frugality, but you should start with what you love and invest wisely.

"That's why investing is so important. Find a group of people you trust and pool your millions of dollars with them to make solid, active and informed investments. Invest to be there and have a vision for it," he says.

You can also invest emotionally. For example, when it comes to real estate, always choose a place where you will live if things go bad. "Whatever approach you choose, choose what you love. We believe that if you love something, you will get better at it," says Bethenny Frankel.

2. Buying and selling products at discount and flea markets

At discount festivals, you can find unique items like action figures and other vintage collectibles. Then check the price on online stores and if the price offered at the discount party is much lower, don't hesitate to buy it.

According to Gary Vaynerchuk, CEO of Vayner X, this business requires patience. Because these items are not only purchased, but also require maintenance and repair. Then sell them while waiting for the right moment.

"That's the hard part. You have to save up for what you work for. When I was in my 20s, I didn't travel or buy luxury items. Instead, I saved money. In my 30s. At that time, I had hundreds of thousands of dollars. Then I invested hundreds of thousands and they made millions. I had to be patient. "

3. Develop and invest in yourself.

"Of course, there are people who invest in opportunities at the right time and make a lot of money. If you invested $100 in Bitcoin in 2010, you would have done well." But for me, it's like winning the lottery," says Grant Cardone, a sales professional who has built a $750 million real estate empire.

A surer way to get rich with just $100 is to invest in courses, books, audio programs, or events that will help you grow. Spend your time developing new skills, acquiring knowledge, and forging strong relationships. Invest in yourself and you have nothing to lose.

4. write a book or e-book

"Six years ago, I hired someone to design my first e-book for $100. It only took about a week to make, and all I had to do was write the copy. Bryce Welker, CEO of online education company Crush Empire and founder of Crush The CPA Exam, says, `Since then, it's been selling like crazy, with people making at least $100,000. "Here I am."

Use your knowledge and resources to write a book. Then, you pay a designer from a global freelance platform to make it look good and encourage people to sell to you through an affiliate marketing program. Offer to pay them a commission for every sale they send you. You don't even need to create a website to leverage the traffic and trust you've built with your audience.

5. Build your personal brand

Being an entrepreneur is a sexy thing that everyone wants to be a part of. You can make millions of dollars by building your personal brand as an influencer or businessperson. With many brands promoting services online, building trust is the key to success. To do this, you need a clear statement that explains your mission and how it helps others. This message should be based on how you solve your own problems.

"People will only follow you if they understand why you are doing it and understand your mission. Tell your story and invest $100 in Facebook Ads and attract people who might be in a similar situation to you," Torben, founder and CEO of personal branding agency TPA Media GmbH and founder of business education program SELF-MADE, told Platzer.

6. Start your business with an online store

"I would invest $100 in business training. Start with free online content from trusted business leaders and read every book you can get your hands on that resonates with you," says Amazing.com Co-Founder, says Matt Clark, CEO, chairman and co-creator of the Amazing Selling Machine. .

Then look for products that you can buy on Alibaba.com at 10% to 30% of Amazon's retail price. To find the best-selling products, look for products in the top categories with best-selling ratings between 1 and 5,000. Then try different marketing strategies to sell your products, starting with social media, online advertising and content marketing.

Then stop doing what doesn't work and start doing what does. To grow your business, focus on increasing profit margins and sales volume. Ultimately, you want to own a brand to gain valuable assets that generate wealth.

7. Start a coaching business

"I've built two 7-figure businesses from scratch and helped others achieve the same success. I had more than $100 to start, but no more," says Rudy Mawer, founder and CEO of ROI Machines and RudyMawer.com.

Once you invest $100 in developing the skills to become an expert, you can start a training, consulting or mentoring business in your field.

He says this model is popular for several reasons: it's fast, effective, and requires minimal investment as the only cost is time. Once your business is profitable, invest the profits into Facebook ads to attract more customers. "If you're good at your job, you can increase that investment to tens of thousands of dollars. To surpass your $1 million target, automate some of your training and hire another trainer." He said.

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