I’ve never been a fan of investing in the stock market.
Especially now that it’s at record highs (terrible time to buy in).
There’s just too much you or I don’t know, and too many others that know so much more.
Instead, especially for a steady passive income I’d suggest to anyone it’s best to start a business in a place like Ecuador.
Like something new I’m looking into this week from Guayaquil.
My 3-point formula is simple.
1. Find a product or service you know well.
2. Someone local you can trust to manage or partner with who will front their time, all while you front the know-how to get started and capital.
3. And about $5-10,000 only (you won’t be buying any property, just leasing). Start with the basics, then scale up add equipment with the money you make in sales.
Bonus tip: Ignore or selectively forget everything you learned in business school, where all they do is teach you to get analysis paralysis.
Hasta pronto, if you liked this you’d love my Insider’s newsletter on living and investing in Ecuador,
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