Why you can't invest now… Seriously.
I knew the subject line would get you, and there’s a reason why I chose it.
This “Why You Can’t Invest Now” mentality hit me last week and the early part of this week.
Here’s how it came about…
I’ve been out on the road all last week and this week with Brett McFall’s “How to Make Money While You Sleep” seminar and it gave me an opportunity to talk to people about all sorts of stuff.
Of course investing and money was top of the agenda. In many of the conversations there was an underlying tone that sort of ran like this…
Why now is not a good time to invest.
Of course the biggie is the “R” word… Recession.
Whilst many wouldn’t openly admit it, it still seems to hold people back.
Why do I mention this?
Because no matter what stage of life you’re at or what the economy is doing there’s bound to be many excuses as to why you can’t invest at that particular point in your life.
Keep reading, this gets really good…
Let’s see if any of these fit for you…
> Age 18 – 25
I can’t invest now. I’m just getting my start in life. I don’t make a lot yet and I’m entitled to have fun while I’m young. In any case, I’m saving for a new car. There’s plenty of time and I’ll wait until I start making a little bit more, and then I’ll invest.
Does that sound familiar?
> Age 25 – 35
I can’t invest now. The car registration is due and the brakes need replacing. I’ve got a growing family on my hands, have to keep up with the bills and make sure I’ve got the rent paid and groceries sorted out. As soon as the children get a little bit older it’ll cost less and then I’ll invest.
Can you relate to that?
> Age 35 – 50
I can’t invest now, I’ve got 2 children in high school, I thought it would get cheaper but it seems to get more expensive! Now I’ve got a mortgage to look after (I thought rent was expensive), updated the car and considering extending the family home just to make more room for a growing family. No way I can save a cent, I’ll have to wait until the kids leave home and then I’ll seriously get into investing.
Maybe this is you right now?
> Age 50 – 65
I can’t invest now. I know I should, maybe I’ve missed the boat. I did speak to a financial planner once but didn’t take any action on it. I went to a seminar or two but sat on the fence. Not sure about my long-term prospects with my job, my industry is changing all the time. It’s not easy for me to step out and get a new/better job at my age. I’ll have to ride this out, maybe something will break my way soon. Then I’ll invest.
> Age 65 +
I can’t invest now. We’re living with my son and his wife. The pension doesn’t go far, the only asset that I have is the roof over my head, it provides shelter but no cash flow. I wish I’d started investing 20 years ago, but it’s too late now. How can you invest when you’ve got no income?
Look, let’s face it. The convenient time to start investing never comes. The reality is NOW is a lot later than you think.
Don’t fall into this trap.
When I ask people would they like to have gotten started 10 years ago, there’s always a resounding “YES.” That’s obvious.
And yet, they never begin the investment process. Think about it, it’s obvious to them that they should have done it 10 years go, but not obvious to them to get started today so in 10 years time they don’t have the same regrets.
Crazy, I know.
I want to drive this point home.
Living in regret that you’ve missed the last 10 years and doing nothing about it going forward is insanity.
How do I know?
This is the exact emotion that motivated me 10 years ago. Lucky for me that I was listening, learning and serious about the next 10 years… They served me well.
NOW my friend, it’s a great time to invest.
So begin the journey today.
Already on the journey?
Well, take more action. Read books, attend seminars, network with like-minded people, get focussed, set new goals and targets and most importantly remember the words of a famous English politician…
“Never give up, never give up, never give up.”
Signed with Success,
Jon Giaan
Knowledge Source
Good advice. I like it.
I’m 66yrs old, do you think I have any hope left for investment for wealth ?
Jon this is fantastic advice. I too have been a part of this procrastination club in the past, though can testify to having woken up. The next 10 years for me will hopefully bring the same success you have enjoyed. We see it daily in our marriage counselling business. People complain about their relationships breaking down because of money. That is only the trigger, the cause lay much deeper than that. We expect we will see more people who take on this doom and gloom mentality. Thanks again Jason.