Why Are You Still Not Investing?
The biggest financial crime to yourself
Most of Us Already Know What To Do
Most people know that investing leads to wealth, or at least we’ve heard the words more than once.
It is a fact that the sooner you start investing, the sooner you experience wealth, financial freedom, and financial independence.
Compound interest works best and to your advantage when you start young.
Yet, how many of us invest when we are young?
Most opt to start investing in their 30s and 40s, playing catch up the rest of their lives.
But some people never get started.
Two people over 40 recently told me:
I know better than to invest my money in the stock market.
I made one bad investment, and I’m not investing in anything else yet.
Two questions I asked them both:
How do you combat inflation?
When will you get started?
Neither of them had an answer for me. And many others don’t either.
Not investing your money is one of the most financially irresponsible things you can do.
If you do not invest because money is tight, you need to find a way to make it work, just like you do when you really want to eat out, go shopping, buy a new TV or phone, or go on vacation.
Make investing a permanent part of your financial plans.
Plan With The End In Mind
The second habit in The 7 Habits of Highly Effective People is to begin with an end in mind.
The 29th law in 48 Laws of Power is Plan all the way to the end.
“By planning to the end you will not be overwhelmed by circumstances […]. Gently guide fortune and help determine the future by thinking far ahead.” — Robert Greene
I have two questions for you:
What will happen if you don’t start investing now?
What will happen if you do start investing now?
The Story About Investment
“A man went off on an extended trip. He called his servants together and delegated responsibilities. To one, he gave five thousand dollars, to another two thousand, to a third, one thousand, depending on their abilities. Then he left.
Right off, the first servant went to work and doubled his master’s investment. The second did the same. But the man with the single thousand dug a hole and carefully buried his master’s money.
After a long absence, the master of those three servants came back and settled up with them. The one given five thousand dollars showed him how he had doubled his investment. His master commended him: ‘Good work! You did your job well. From now on, be my partner.’
The servant with the two thousand showed how he also had doubled his master’s investment. His master commended him: ‘Good work! You did your job well. From now on, be my partner.’
The servant given one thousand said, ‘Master, I know you have high standards and hate careless ways, that you demand the best and make no allowances for error. I was afraid I might disappoint you, so I found a good hiding place and secured your money. Here it is, safe and sound down to the last cent.’
The master was furious. ‘That’s a terrible way to live! It’s criminal to live cautiously like that! If you knew I was after the best, why did you do less than the least? The least you could have done would have been to invest the sum with the bankers, where at least I would have gotten a little interest. ‘Take the thousand and give it to the one who risked the most. And get rid of this “play-it-safe” who won’t go out on a limb.’”
Matthew 25:14–30, The MSG
Four Lessons From The Story About Investment
Those given much will be given more — especially those who utilize their money prudently.
Those who manage their money poorly and don’t invest, even what little they have will be taken from them. These people will end up broke.
Investing requires a certain level of risk; get comfortable with potentially losing a little money so that you can accumulate great wealth.
Invest ASAP!!!
Some people recommend you pay off your debts before investing. However, you can’t get back time; time is the greatest gift for investors because of the magical term: compound interest.
Don’t wait to invest. Invest now.
Max out your Roth IRA.
Max out your employer’s 401k. Get the match; that’s free money!
If you don’t have an employer, get a brokerage account and invest in mutual funds or ETFs.
Investing is too severe a business not to participate.
You don’t need to be an expert; you only need to start.
If you don’t know what you are doing, get involved with robo-investing. Robo-investing will get you started without having to put in the effort to educate yourself.
However, if you are unfamiliar with investing, educate yourself to be an informed decision-maker.
Ignorance is not bliss.
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This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any significant financial decisions.
Love your words this is wisdom there! Debts must be paid off first. There is now way money invesrted will ever surpass the interest on the debt. The lost opportunity costs on the interest paid to the company is greater that the interest earned on savings.
I'm investing, Destiny :)