Recently, Business Insider asked successful individuals what the smartest thing they have ever done with their money was, and below are some interesting answers:
I created an emergency fund
 Alexa von Tobel – Photo: Business Insider
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Alexa von Tobel, founder and CEO of LearnVest.com and author of “Financially Fearless,” shared: “I always felt it was worth it to create my own emergency savings immediately after getting my first job after college. If I didn’t have that money set aside, I wouldn’t have been able to weather the economic recession and help Americans nationwide access financial advice easily.”
I invested in real estate
 Farnoosh Torabi – Photo: Personal page of Farnoosh Torabi |
Farnoosh Torabi, personal finance expert, bestselling author, and host of “So Money,” said: “The smartest thing I ever did was buying real estate in New York City in 2004 and holding onto that apartment until 2014. The value of the property skyrocketed by nearly 70%, and I had offers to buy it within 24 hours of listing.”
I bought an Apple Quadra 800 computer
 Adam Nash – Photo: Reuters |
Adam Nash, Chairman and CEO of Wealthfront, said: “In the fall of 1993, I took money I had scraped together from my summer job as a software engineering intern at Hewlett-Packard and bought an Apple Quadra 800 computer. While that computer ate up a significant portion of my summer income, it was one of the smartest purchases I made because it created opportunities that led me to my current career. In many ways, buying that computer represented the start of my financial independence, freeing me from being a burden on my parents. I bought it because I had just received my bachelor’s degree in computer science. From there, I had the best job I ever had and decided to reinvest personal income into the devices that I believed would help me grow.”
I invested in ideas
 Jennie Enterprise – Photo: Personal page of Jennie Enterprise |
Jennie Enterprise, founder of CORE: club in Manhattan, New York City, shared: “The smartest thing I ever did with my money was investing in ideas, nurturing talents, and concepts with my heart and soul. My passion and work revolve around innovation, redefining lifestyles, entertainment experiences, and making them the center of the community. I have never bought stocks, and I have never been interested in investing in things I can’t control. For me, it’s all about predicting the zeitgeist, investing in people and ideas bold enough to make a change.”
I paid myself to work for me
 Steve Siebold – Photo: Personal page of Steve Siebold |
Self-made millionaire and bestselling author Steve Siebold said: “The rich taught me how to use money as leverage to create more wealth. Most recently, I bought the Bona Allen Mansion near Atlanta, which has attracted global attention to our business through this acquisition and renovation project. We received congratulations emails, buyout suggestions from larger companies, and ideas for recovery from countries as far away as China, Brazil, and Australia. The mansion served not only as our headquarters but also as a world-class marketing tool, putting us on par with larger competitors. That’s what using money is all about: You invest a dollar and get back 10 dollars.”
I started a business
 David Bach – Photo: Personal page of David Bach |
Entrepreneur, bestselling author, and speaker David Bach said: “The smartest thing I ever did was taking $5,000 to start FinishRich Media. I began my company from the kitchen table with nothing but a dream and a personal finance education program for millions of women called ‘Smart Women Finish Rich.’ I hired an attorney to incorporate the company legally and built it from the ground up until it became a real business. Within a few years, I sold the ‘Smart Women Finish Rich’ program to Random House, launched ‘Women Finish Rich’ seminars nationwide, and over the next decade, we educated over 1 million women on the steps to live richly and finish rich. Now, the FinishRich Brand has 7 million copies in print in 19 languages and is present in 50 countries.”
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