Invest For The Long-Term? What’s That? I’m Young!
Okay, one of most common pieces of “conventional wisdom” out there regarding investing goes like this: Young people can be really aggressive, and they should! They might hit it really big, and if not, well, who cares? They’re young and have plenty of time to start over and do it right the next time.
Technically, that’s correct, and yes, it’s true that hindsight is golden! In this case, here’s why: it’s almost impossible to adopt that mindset and simultaneously hold the thought in your mind that you’re going to get older and someday not have plenty of time to start over. Instead, what we humans do is talk ourselves into believing that we’ll do it right the next time. But wait a minute – why not just take the pressure off for your whole life and do it right the FIRST time? If you’re past that, okay, take some of the pressure off the rest of your life and get started doing it right!
What’s doing it right? Oh, that’s easy, we find the next Microsoft, like those lucky people did back in 1985 or so. The key word there is “lucky”. There’s nothing wrong with getting lucky, but there’s a lot wrong with having that as a plan, and I can assure you the original Microsoft investors had no idea how good it would get. I can also tell you that some current investors are still in love with that and can’t sell the Microsoft they have when that’s not very likely to happen again.
Doing it right involves getting the emotion out of the game, yet we have a tendency to put our heads in the sand on the topic of getting older. I know, when you’re in high school, and up until you’re maybe in your late twenties or maybe until when you first get married, you don’t get older. I know this. It was true for me. But the clock doesn’t stop, which means we either get on the train now, or watch it leave the station without us.
So where are we going with this? Be serious about doing the right things for yourself and the ones you love. That doesn’t mean having a grave expression or being uptight instead of having “fun” gambling on the next hot stock tip, it means getting together with someone who can create a plan for you, be your coach in building that plan, help to hold you accountable when you need it, yet also encourage you to take some chances later when you can, because you’ve been committed to the idea of someday having choices.
Choices! How cool is that? Maybe that’s what it’s all about! Getting rich is nice, but that’s a very relative and personal concept. The first thing is to do what you have to do so that you can avoid being overly aggressive because you’re much older and still way far behind. How much better it is to be in a position where you can walk away from that corporate job and open your own flower shop. Whatever motivates you!
JUST START NOW.
Visit: http://whattoinvestinnow.com
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