Rahul Saggu: Investing During The Pandemic; What Should I Do With My Money Considering All of the Volatility and Uncertainty Today
Have the right mindset and be able to live below your means for a little while- Investing means putting your money away in order to receive more at a later date. This means less disposable income for a period of time.
As a part of my series about “Investing During The Pandemic”, I had the pleasure of interviewing Rahul Saggu.
Rahul Saggu is an entrepreneur born in London, UK who now resides in Toronto. He currently is part of the #1 Mortgage Alliance team in Canada, VINE Group, and is also an international platinum leader within imarkets Live.
Thank you for doing this with us! Before we dig in, our readers would like to learn a bit more about you. Can you tell us the “backstory” about what brought you to the finance industry?
I’ve always had a big pull to the finance industry due to being around different businesses from an early age. Studying economics at Wilfrid Laurier University allowed me to explore different fields to find what I was passionate in. Real estate always clicked for me since it is something tangible and has created wealth for so many people. I purchased my first property at 21 and haven’t looked back. I took my passion for real estate and dialed into the finance side of the transaction since I enjoy working with numbers. I also pride myself in finding creative solutions for my clients whether its to purchase their first home or expand their real estate portfolio. At VINE Group we offer customized blueprints for our clients to help them achieve their goals. We have excellent relationships with our partners and also have access to products that many other brokerages don’t have access to.
Can you share with our readers the most interesting or amusing story that occurred to you in your career so far? Can you share the lesson or take away you took out of that story?
I remember going to my interview for the VINE Group which was held at the National Club in downtown Toronto. I was 24, nervous and had brought my resume with me. When I handed my resume to my current boss he kind of laughed, dismissed it and asked why I brought it. He didn’t even look at it and said we hire based on the potential we see in you and your people’s skills. We chatted for around 30 minutes and I got the job.
Are you working on any exciting new projects now? How do you think that will help people?
I am always looking for ways to diversify and take on new projects that can yield great returns. As of March 2020 I have been involved with the #1 home based company in the world that has recently been featured in Forbes, imarketslive. We essentially teach people to multiply their income through investing in the largest financial market in the world, the foreign exchange market. We have been around for 7 years and currently have over 450,000 students worldwide in 80+ countries. Our academy has the ability to take someone with 0 experience and turn them into to an expert trader. What really pulled me into this business was having the opportunity to learn from some of the top traders in North America and the ability to make money on my phone from anywhere in the world as long as I have wi-fi. Having the ability to hop on live trading sessions with our 100+ educators was instrumental to my success in this field. We essentially have the ability to learn and earn on the go so our students are able to see success in a very short amount of time.
COVID-19 has been an extremely tough time for many people. Whether its losing a job or the emotional stress that comes with how different the times are. Our company has experienced tremendous growth since March- we have helped thousands of people achieve a solid part-time or even full time income. Not only do we make money from trading, we also have an optional way to earn residual income by building an international team. Our company offers one of the most competitive compensations plan out there. 12 people within your organization earns you $600USD/month. I always tell people how important it is to have residual income since we have residual bills.
None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?
My father is someone who I have always looked up to. He is my hero and taught me everything I know about life. He taught me to always be a good person and help people along my journey. I have the ability to achieve these things with both my businesses which brings me a lot of satisfaction. Helping others achieve success is what I am most passionate about.
Let’s shift a bit to what is happening today in the broader world. Many people have become anxious from the dramatic jolts of the news cycle. The fears related to the coronavirus pandemic have understandably heightened a sense of uncertainty and loneliness. From your experience, what are a few ideas that we can use to effectively offer support to our families and loved ones who are feeling anxious? Can you explain?
Everyone has been affected by the coronavirus pandemic and it has resulted in a ton of restrictions we are not used to having. For many its meant job loss, less hours, and a lot more time spent indoors. All these things can cause a loss of motivation and depression. I highly encourage all my friends and family to work on personal development especially during these times. There are a ton of books and youtube videos out there. Some of my favourite books are Think & Grow Rich, The laws of success, The compound effect, and Man’s search for meaning. I also enjoy listening to Bob Proctor and David Goggins on Youtube. I tell my friends and family you must make a decision and commit to come out better than you came into Covid. I also recommend working out and doing random acts of kindness for people in your life such as sending gratitude messages and dropping off food. A little act of kindness goes a long way especially in times like these.
Ok. Thanks for all that. Let’s now jump to the main core of our interview. As you know the stock market and the economy in general have become extremely volatile and uncertain. Many people “dollar cost average” and put aside a monthly sum into a long term savings plan for retirement, college, or a home purchase. If a loved one or a client came to you and said, “I have been saving and investing $500 every month in an S&P 500 index fund. Over the next few months until the dust settles, should I be doing something else with my money?”, what would you say to them?
I would highly recommend receiving the utmost professional advice when It comes to investing. There are people who make great returns in the stock market, real estate, and the foreign exchange market. Find what interests you and obtain an expert’s opinion. Pandemics and crashes in the economy are a great time to invest if you know what you’re doing. The great thing about investing the foreign exchange market is we make money whether the market is doing good or poor. Essentially we can make money in both directions of the market. The barriers of entry are also much more attractive since you only need $50 to start, compared to the stock market which is much higher.
Eventually the economy will recover and rebound. Certain sectors, like travel and hospitality might be hurting for a while. But other sectors, like technology and healthcare, might do very well. If someone wanted to prepare today to take advantage of the future recovery, what would you suggest they do?
I do agree sectors like travel and the hospitality industry will be under performing for a while compared to other sectors. I would recommend reaching out to a professional with a proven success record and have them advise on any opportunities they may see.
Are there sectors that provide exciting and lucrative investment opportunities today, specifically because of the volatility and uncertainty?
I always say real estate is a great investment if you can get your way into the market. It is in my opinion one of the safest investments that can bring enormous returns. Prices have always risen overtime even though there are pullbacks. I recommend holding for long term and having rental properties in core areas of appreciation such as main cities. Stocks can also be a good option since prices across industries are low and expected to rebound. I say buying low is always a safe bet. Obtaining a professionals advice will allow you to identify sectors that will rebound in the short and long term.
Are there alternative investments that you think more people should look more deeply at?
I would definitely recommend people to look into imarkets live. We have amazing resources and an amazing culture. We are truly creating a movement of digital entrepreneurs, allowing them to trade, build an international team while traveling and live life with more freedom. While there are negative articles and opinions out there, that can be said for any company. There is a reason why we are the #1 home based business in the world and expanding every single day. We have withstood the test of time being around for close to 10 years and the business model is solid in every way.
If a person in their thirties and forties came to you today and said that they have $10,000 that they want to put away today for a long term investment what would you advise them to do with it?
Put the $10,000 into a well-diversified portfolio and let it sit. Do your best to seek out a professional with a great track record.
Ok, thank you! Here is a more general finance question. You are a “finance insider”. If you had to advise your adult child about 5 non intuitive essentials for smart investing what would you say? Can you please give a story or an example for each?
- Patience — Investing is not get rich quick. However it has the ability to create wealth
- Understand compounding- Einstein said “Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it”
- Have the right mindset and be able to live below your means for a little while- Investing means putting your money away in order to receive more at a later date. This means less disposable income for a period of time.
- Gain knowledge of your investment
- Understand the risk/downside of any investment- A savy investor always knows their risk in any investment and potential losses.
Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?
“Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma — which is living with the results of other people’s thinking.” -Steve Jobs
Growing up we tend to be very influenced by other people and care a lot of other peoples opinions. As we grow up and gain our own knowledge of the world its up to us to make our own life decisions and learn to disassociate ourselves from other’s opinions. We realize everyone is going to have their own opinions and that can hold us back from achieving our true potential. What is important is having a few close people around you that you trust and always having the right intention with everything you do.
You are a person of enormous influence. If you could inspire a movement that would bring the most amount of good to the greatest amount of people, what would that be? You never know what your idea can trigger. :-)
Having a mentor in your field is the most important thing. A mentor will not allow you to make the same mistakes they did which will undoubtedly fast track your success. Make sure this person is ethical and has a good name in the field you are interested in pursuing. Reputation is everything so make sure you have the right people in your corner.
Thank you for the interview. We wish you only continued success!