July 23


Net Worth Review: Is Tom Wang Worth As Much As We Think?

Tom Wang sold his Sdara Skincare company for several seven figures. This was in December 2020. He was left wondering what he should do with all the money after the big payday had worn off. He did his due diligence. He decided to invest 30 percent of his net wealth in real estate. The remaining 30% went into stocks. Ten percent went into crypto. The remaining thirty percent was kept as cash. Continue reading to learn more about Tom Wang's wealth-building strategy.

Tom admitted that he is more risk-averse than most. Your personal risk appetite may influence your personal ratios. Dollar cost averaging is another important principle. Let's say Tom had a million dollars to divide up. Three hundred thousand dollars or thirty percent of the money is going to stocks. Does this mean that he is all in on Apple from day one? No. No.

Tom could instead split the three hundred grand into ten equal-sized chunks of thirty grand and then invest that every 30 days for ten month. It doesn't matter how the market does. For the past ten months, he has been buying stocks worth thirty grand each month. He's doing this by buying shares at different prices, which averages out the price he pays per share. He believes that if billionaire investors cannot time the market, then how can they?

Tom Wang found real estate to be more challenging. It is not easy to find the perfect house. He also lives in Vancouver where properties are very expensive. The ROI was not great. He moved to the Airbnb model. This comes with more headaches, such as managing listings and being available to anyone who wants to stay there. Tom is willing to set up a team to handle everything. It's worth the extra income, as compared to traditional rentals.

Tom also began investing with Manny Khoshbin, a real estate mogul. This is a very hands-off approach that has many benefits. Then you just have to cut the check and wait for the project to be completed. You can then expect to receive your original investment back with a small return. There is a downside to this: you don't have any long-term assets that will pay you passively for many years.

The most fascinating cryptocurrency is cryptocurrency. Tom sees it as a hedge. Since the pandemic began, the government has been printing ridiculous amounts of money. Crypto gains may be able to offset the falling dollar value. The digital equivalent to buying gold or silver. Tom warns that this is extremely risky. His girlfriend handles it all. It fluctuates between six and six figures depending on the week. He doesn't really care. Can't stomach the swings.

Cash is last. Some people say it's garbage, others say it's the king. Tom believes that the former. A rainy-day fund is essential. You need something to fall back on in the event of a disaster. You can also say that there is a huge correction. All is on sale. If you are cash-strapped, how can you capitalize on these opportunities? Cash is peace of mind. A savings account with cash will help you sleep better at night. Tom is currently building another e-commerce brand via Amazon FBA. He is currently launching a new software. His net worth is estimated at eight million dollars.


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