Updated: November 28, 2018
Last weekend, I attended a seminar about investing. And it was a four hour engagement that gave practical tips and advice on why, where, and how to invest for your future.
That same afternoon, I was also able to meet and talk to a few of my blog readers. I thought that was really nice and interesting.
Below are some of the realizations I had during the seminar, and the points that came up during my conversation with my blog readers on the topic, how to invest for the future.
Random Thoughts On Investing
Everyone who has invested has lost money. And it’s okay as long as it was from a legitimate investment. What’s NEVER okay is to lose money from a scam investment
It’s not enough that you think like a millionaire, you should ACT like a millionaire as well. Rich people spend less than what they earn and invests the difference.
You should learn to manage your money even if it’s little. If you can’t, how do you expect to manage your finances when you have more money.
Things you need to know before investing: your objective, your time horizon, your risk tolerance, your acumen. Learn more about these in my investing guide for beginners post.
The higher the yield, the higher the risk. There’s really no such thing as low risk, high yield, fast cycle investments. If there is one, I’m sure that’s NOT legitimate.
You should invest your money or else inflation will just eat it up.
Investing is affected by the economic cycle. That’s why it’s important to increase your financial literacy, so you can understand how the economy is doing, and take advantage when opportunities arise.
Diversification and proper investment weight distribution is important to lessen risk and potentially maximize profits.
Investing requires patience and discipline, but more importantly – control of your fears and control of your greed.
Dreams have deadlines. The best time to act on your finances and learn to invest is NOW.
The Most Important Investing Lesson
Of all these thoughts, I consider the last one to be most striking.
Dreams indeed have deadlines. Because, won’t it be hard for you to bungee jump or skydive when you’re old and weak?
Suddenly, I am reminded of two movies: “The Bucket List” and Disney Pixar’s “Up” because of this.
Remember that the reason why you want to invest, make money, and be wealthy is to be able to enjoy fully what life has to offer.
The most basic difference between those who are rich and those who are not is indeed usually a mindset of creating wealth rather than just consuming things.
That must have been a good seminar. 🙂
Hey Fitz, thanks for these tips. I’m exploring an insurance policy so your articles are a great resource for me. 🙂
Mighty
Nice Tips!
I totally agree with you on this >>> “the reason why you want to invest, make money and be wealthy is to be able to enjoy fully what life has to offer.”
I remember a similar idea from the book 4-hour workweek by Timothy Ferriss which says “People don’t want to be millionaires – they want to experience what they believe only millions can buy.”
good thoughts Fitz!
Yes, I have decided to work hard to become rich. I can do it only if I would give enough time and concentration to my business. Yes, save and invest.
Thanks everyone for the comments, specially to Randell for that great seminar. 😀
[…] in debt trouble yourself. So always start with yourself – be financially smart, save money, learn to invest and control your own […]
Tnx for sharing this..yes it’s true, we should start now coz time is money hehe..sir Fitz, what can you say about citisec online?
Hi Melissa, I’m biased towards Citiseconline because I have an account with them and they have been my stock broker for a number of years now.
If you’re planning to open an account with them, try to look for Ms. Shan Loquinario – she’s my account manager. Just tell her I referred you and I’m sure she’ll take good care of you. 😀
Hi Sir Fritz,
Your blog has been my constant investment guide. I took time to read your blogs daily especially when it comes to investing. I am a neophyte in investing and wanted to go for three reasons;
a. extra income,
b. have my own house built on 2018,
c. and pay for the college education of my eldest.
Is there any specific instrument where I can put these separately or at same instruments where I can achieved my goal.
Can you feature a blog that would discuss the main factors that affect the our stock market movement (either local or world market issues) and why?
Thank you so much. God Bless
Juby
Hi Jubymar,
a. extra income – you need to invest in a business, the best source of income, investments are best used for capital growth
b. own house – have a value as a target, how much would it cost for you to build your own house? for a five year horizon, you can invest in moderate and high-risk investments.
c. college education – it’s the same process as your house, determine how much it would cost, and depending on your investment horizon, that would dictate where you should invest
here’s a link to how you can calculate the cost of education of your child:
How Much Will The College Education of Your Child Cost?
[…] in debt trouble yourself. So always start with yourself – be financially smart, save money, learn to invest and control your […]