Investing starts from the first penny that you earn. Most people are enticed by the allure that money brings with it; power, freedom and the ease with which to attain some form of happiness. Yet, the habits and attitudes of most of these aspiring investors is one that is inversely proportional to success.
One problem most people have is holding on to their savings; most of us are broke even before the month is over, needing us to be enslaved by the pursuit of more money which is once more unwisely managed; and so the circle begins again. What is remarkably different about successful people, and those that just can’t seem to have that foot outside the door, is that; the wealthy pay themselves first and then others after. By this I mean, one has to save, at the very least, ten percent of the income they earn, even when greatly indebted to others.
What happens when these savings after twenty four months of compounding? You have more than 2.4 times the amount of what you’d expect to earn as income for one month’s work and pay; this already is the foundation of the source of your investment capital. Now the real work begins.
“Don’t place all your eggs in one basket”. After much research has been done on behalf of the investor, diligently insuring that all the pros and cons to the endeavors they wish to invest their hard earned money are well considered, weighed, and once more; further pondered upon. In the initial stage, you will of course be limited to two or three investment plans at a time. Seek not therefore to invest your hard earned money into what you’re unsure or uncertain of, or of which you have made no attempts to fully grasp the means of operation and the history of that business or organization.
I personally shy away from investing in stocks or bonds, which need a better grasp of geo-political situations, and statistical data of historical events, and data for the present and even prospects for the future; and where said situations and events are most likely to lead to for the business or enterprise of interest to the investor. It’s not for nothing that stock traders and the like are highly paid and highly skilled at picking up on the discrepancies in real time, as fluctuations, now more than ever in history, rise and fall almost unpredictably.
One then is better advised to not only invest their money in much more sound opportunities which have a steady expected increase; especially favor ones that permit you to devote not only your money but your time as well into the partnership. Time and money are often interchangeable currencies; the lack of one can be counterbalanced and set straight with the presence of the other.
Sometimes it is better to spend six months toiling and insuring that your partners and you maximize each others’ skilled potentials. It is not for nothing that most say that: time is money. And so better to do things correctly and on your own, than to entrust what could end up being a fortune for you into the hands of a complete stranger, whose loyalty to your cause is only as far reaching as the height of the pile of money you compensate him with. Moral of the story: eliminate as much doubt and uncertainty by investing not only your time and money in the initial research phase of your undertakings, but also still more of the same amount of time and money throughout the growing process, seeing to it that your investment grows to a sustainable enough level to not need your guidance; like a child that’s finally got their head on their shoulders and is now able to not only survive but thrive even in the absence of their guardian; you.