Warning: You’re Losing Money By Not Investing
20 ideas about investing that will make you think
There are many ways you can invest — stocks, cryptocurrencies, real estate, coins, silver, gold, stamps, artwork, sports cards, and many others. Investing is your lifeline for your future.
This is not a discussion on how to invest or what to invest in. These are just some facts and figures for you to think about.
20 random ideas for you to consider.
1. Invest in yourself.
2. Investing gives you a better return than your bank account.
3. Investing can give you a better return than the rate of inflation.
4. Investing can be your emergency fund.
5. Investing is playing the game of Monopoly in real life.
6. Your car depreciates while your investment appreciates.
7. You don’t understand investing but you didn’t understand your ABC’s until you went to school.
8. If you can read this, you obviously have a connection to the internet. Information is free for you to learn about investing.
9. The dollar and other fiat currencies are losing value.
10. The rich are getting richer while the poor are getting poorer.
11. Most millionaires are self-made millionaires — 88% to be exact.
12. The average person spends 2 to 3 hours a day watching television when they could be learning about investing instead.
13. Turn your coin collecting hobby into a business.
14. Living on social security or your government retirement plan is not a livable wage.
15. The average American has $107,000 saved for retirement which equals $297 a month if they live an additional 30 years. This does not include any interest or additional money added.
16. Investors who don’t touch their money for more than a year are taxed at a lower rate than someone who took money out of their investment in less than a year. Make taxes work for you and not against you.
17. The average American has $90,460 in debt from credit cards, housing loans, personal and student loans.
18. The earlier you invest, the more money you will have compared to someone who invests the same amount later in their life. This is due to your money compounding over time.
19. When you go out to buy an item, ask yourself do you need this or do you want this? There is a big difference.
20. Don’t chase the tiny shiny object such as day trading, forex, or other ways to make money fast. You can make money in these areas but a lot of people actually lose money rather than make money.
To learn more about investing, check out one of these articles:
5 Ways to Raise Your Kids to Be Millionaires
These are valuable lessons you need to know.
medium.com
References:
How most millionaires got rich
How much television people watch
How much money people have saved for retirement
What is the average household debt?
Tom Handy is a top writer on Medium, former Quora writer, and father of two kids. He retired from the Army and sits on several non-profit boards. You can find him on Twitter @tomhandy1.
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.
