Many people discuss how important it is to start investing when you’re young as it’s only through investment that you can guarantee a secure financial future for yourself.
These may be wise words, but in living in such a fast paced, consumption driven society, where the cost of living is getting higher and higher – and many of us are having to borrow money even to just keep a roof over our head, the idea of investing a portion of your monthly income seems somewhat ludicrous to many people who are struggling to make ends meet.
However, when you flip this on it’s side, perhaps the ludicrous aspect is that they remain trapped in a job where they are trading time for money – thus struggling to make ends meet – when if they had invested, they would be living a life of much more financial abundance.
In this sense, the best time to start investing is today. Yes, it would have been great to have invested in bitcoin several years ago and made a killing, but all we have control over is the current moment, and therefore now is the time to get on the Midas Letter website and start looking at future cryptocurrency trades and trends that you can benefit from today.
The reason investing is so important to your financial future is that we live in uncertain times, where we can see that the government isn’t necessarily going to be able to provide for us in later life, due to the impending ‘pension crisis’ and drains on our economy due to the baby boomers reaching later life.
We can see that there’s going to be a huge strain put on the health system and as a result, more and more people will be requiring premium private treatment – which will likely rise in cost due to the economies of supply and demand.
These are somewhat daunting times, yet, there’s something you can do today to create a more secure financial future – and that is to invest.
With regards to investing there are many different forms and ways to invest your money, the most common picture people pull up in their mind is that of the stock market, yet often a more reliable and accessible option is to purchase a few investment properties or create an asset in terms of writing a book, building a business, or leveraging any of the many ways to make passive income through the power of automated business systems that you can run from the comfort of anywhere you have an internet connection.
Most people, however, are trapped in a state of instant gratification meaning they are stuck in a system where they trade their time for money – and get instant reward, but then spend that reward, and therefore have to keep trading their time for money.
The investor, takes a different approach and must get comfortable with the prospect of working hard now (with little reward) in order to reap sustainable future reward as a result of his or her initial effort.
The reason investing is so important to your financial future is because you ultimately want a good quality of life; and to have this you need both the time and money to enjoy life – which is where investing in your future, by building assets and leveraging your resources comes into play.