Ingus Rutulis is a 29-year-old entrepreneur, tiktoker, influencer and golfer, who is known to the general public for the fact that a few years ago he brought Kendams to Latvia, which became a very popular toy for young people. This allowed him to make good money and gave rise to thoughts about where to invest funds. Ingus encourages everyone who is thinking about this topic to read the Investors Club, because it is an opportunity to feel smarter in the financial field.
How did your path in the world of finance generally begin?
I started my first business in 2013, 2014. The Kendamu project started in 2018, I earned more money in it, I had to think about how to use it wisely. I won’t say today that I spent it 100% wisely, but I have spent most of the money the way I should, and it continues to help me live today.
What do you think it means to spend money wisely?
Young people tend to spend a lot of money on bad experiences. More money comes in and it is spent on quick pleasure because it feels like next month a lot of money will come in again, but it doesn’t always happen that way. It is important when more money comes in, to think a little ahead, to create some kind of security cushion in order to continue to live successfully.
Where do you invest yourself? Do you buy shares, for example?
Yes, I have experience in this field as well, I have also bought cryptocurrencies, precious metal artworks. I have not only invested in real estate. Currently, investing in shares is elementary, it is simple to follow all the information, for example, in the same Revolutwhere a very simple interface has been created, making transactions is very basic for everyone.
How did your financial literacy develop step by step – when did you receive the first big funds, where did you invest them?
In fact, my first investment was relatively unpopular, but I think it’s especially important these days. I invested in my personal brand, my visibility, because it was important to me that people know who I am. That way, it was easier for me later to start any collaborations, to develop an influencer business, because people already knew me. It’s a non-standard thing, but I still think it’s worth investing in. Investments in shares and cryptocurrencies followed. Even before that, I also bought several works of art. I have several artist friends, I wanted to support them. I have also had the opportunity to buy some works before they go on sale. I believe these people will “grow up”.
Do you have another particularly successful profit story outside of the Kendamu project?
In general, I focus more on long-term investments, so short-term jumps are not so important to me. There is also one good story about investing in art. I won’t mention the artist’s name, surname, or the amount, but I recently sold at auction a work of art that I bought 3 years ago from a limited collection. I managed to sell it at a profit of 800%. It was my first big sale of artwork.
It feels like you have a very strong intuition about things that might “go”. How important is intuition in financial investing?
It is very important, but it is not the only thing that matters. In my opinion, intuition is best combined with knowledge. If you have delved into the economy, the basics of business for some time, if you have understood how it all works, then it is easier to make decisions. I myself have completely gone through various business processes, I know that it is important to look at every thing only from your point of view, but also for some others, you should not consider your perception as the only right one. Also, in the field of investment, you have to look broadly, connecting different senses and knowledge.
Do many of the young people around you invest?
No, I don’t know many. This is probably because Latvia’s economic situation is not so bright, salaries here are not like in Western Europe, people often cannot afford to invest, because they live from paycheck to paycheck. Of course, there are also exceptions, when young people have either wealthy parents or a successful business of their own, so there are resources to invest.
I would also like to add here that you don’t always need a lot of money for investments, even a small amount is enough to start saving and thinking about the future. And it is definitely important to talk about these topics in the Investors Club and society in general, so that even young people understand that the first funds they receive should not be invested in the newest car or an expensive trip, they can be spent more wisely.
Considering your strong intuition, it is interesting to know what stocks are in your portfolio!
There is nothing from the Baltic Stock Exchange. I prefer up-and-coming American companies that perform rapidly. You don’t have to buy Apple, Tesla or Amazon. If you have a million to spare, you can certainly do it, but I think it’s more exciting to spot the rising new stars. Yes, intuition is needed there.
Have you reached such a situation that you can not work from 8.00 a.m. to 5.00 p.m. and indulge in new ideas?
Yes, I am glad to have this freedom. I can also take every day off, this is how I managed to organize my life. I am free to work on new projects, many things to try. I make a lot of mistakes, but I am aware that if I do not make mistakes 10 times, the 11th time will not come when I will be able to achieve something and make good money. Even now I am working on the creation of a new company – from time to time I need some new sharpness in life.
I realize that not many people can afford this at the age of 29, so I really appreciate that I have this opportunity. Everything has happened. When I finished high school, I dropped out of university and started my first business. At that time, I lost a lot and had to move from Riga back to my parents in Valmiera at the beginning of 2015. I remember the day my dad came into my room and said, “Dad, you’re 21 years old, you live with your parents. You should start thinking of something!” Mom had heard this and said: “Don’t worry, sleep well! You will definitely have periods in your life when you won’t be able to sleep like this and lose weight.”
And it was, wasn’t it?
Yes, soon after that I moved to Norway, trained huskies there for sledding. From early morning until late at night I was outside, in the cold, with the dogs, at that time I fully understood what my mother said. It was a good experience.
Do you read Investors Club?
Yes, I found out about it last year. I don’t believe in the mass media in general, I don’t like that the news is created with the aim of collecting clicks, sometimes it feels stupid after reading, but with Investors Club everything is completely different. There is no stupid news here, here is an opportunity to feel smarter, to learn and when reading you don’t feel like you are losing time, but investing in yourself.
Is the Investors Club also suitable for beginners – those who are still thinking about their first investments?
Yes, it is the place to understand how to start investing. Any wealth is mostly formed gradually, with education and understanding, with oneself. Investors Club is the place to get that important knowledge. To become a successful person, many nuances, small habits that change us are important. For example, it is valuable to get up early every morning, run, read good literature, whatever there is Investors Club. All this is formed as good habits that help you achieve more in life. I also noticed that Investors Club there are already more than 50 episodes. It’s a good score and a wide range of material that anyone can use to their advantage.
You should read the Investor Club and start investing little by little!
Exactly. I also encourage starting small. A few cents a day will go (by dividing the monthly fee by days) for Investors Club. At the same time, you can start investing, for example, 10 euros per month in shares, funds and elsewhere. It will take a couple of months, not much money will be spent, but a great experience will be gained. At first, I don’t even recommend exaggerating with the amounts, it’s better to make mistakes on the cheap! And in the end – no one immediately comes up with a million to invest.
2024-01-11 15:26:31
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