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.