This week on the blog...
I started investing when I was 18 which I thought was early until I saw these kids online who have been investing since they were 10 years old. Yikes. But I have learned a few things along the way. Here's a few.
1. There is no "Get Rich Quick"
There are no get rich quick schemes in anyones investing strategy. If you happen to stumble upon one, good on you, because they are like needles in a haystack, and typically bring more RISK and LOSS for the average investor. Investing ALWAYS works If you’re in it for the long term. Decades not weeks.
2. But the Rich DO Get Richer
Yes, the more you put in, the more you get back. This stands true in our businesses and our finances. The earlier you start, the more you invest, the more that compounds, and the MORE you then have to work with in the future. I bought my first property at 24. The return on just that ASSET has led me to several more investments.
3. I Look Forward To Market Corrections
Market corrections are healthy. They are like a big old summer sale, where I can get my hands on some great buys. I have made some of my best returns during or following market crashes and/or corrections. Start to get comfortable with these, and you'll see them as opportunities too.
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