Think you can't save and invest? Yes you can!
How to Become an Investorgetic®: Passionate About Investing series: Part 9
Before I start this blog, I want to make sure you know what an Investorgetic® is. An Investorgetic® is a persona I created while writing Money Intelligence to counter the Consumerholic persona in our society. It's a term I coined that's made up of 2 words: investor and energetic. It means someone who is passionate about investing to build their wealth in a sustainable way.
Think you can’t invest? Yes, you can!
Do you think more about saving and investing, or spending?
An Investorgetic® lives and breathes investment opportunities. They know their goals and are committed to achieving them. They have the strength to resist excessive spending. And they have the confidence to take courageous financial leaps as they build their wealth to create the life they desire.
You may think there’s no way you could do this. You may think the risks associated with investing are too great. “It’s better to leave investing to the experts,” you tell yourself as you continue to struggle to reach your money goals.
But the decisions you make – or don’t make – now will have an impact on your life that can last decades.
You don’t need to be a so-called expert to invest. You have the power to take control of your financial future. You just need to harness that power.
Yes, there is risk in investing. An Investorgetic® understands this. But the difference is, they do their research. They don’t rely on other people’s promises. They don’t jump without thinking and they don’t cross their fingers hoping everything will work out. They are armed with information so they can make the best investment decisions possible.
So, how can you become mentally, emotionally and physically ready to invest your money and grow your wealth? Here’s how you can become an Investorgetic®:
Do your research. Understand the macro and micro influences on the investment you’re considering (eg. property, shares, bonds).
Adopt a long-term view. Don’t expect returns overnight. It takes time and patience to reap an investment’s financial rewards.
Be committed to your job. Invest in yourself emotionally and strategically. Think of yourself as a problem solver and see what difference this can make to your career – and your income.
Start a business. When done right, this can give you more control over your income and financial future. But it’s important you don’t act on an ill-thought-out entrepreneurial “brainwave”. Research your idea thoroughly and crunch the numbers.
Cut back your spending. Address your bad spending habits and addictions. Over time, they can significantly reduce your wealth.
Supplement your income. Take on part-time work or freelance on the side. Use your earnings to invest or pay off debts.
Create partnerships. With support from people around you, you’re more likely to reach your goals. Start with your partner: cherish them, seek their input and don’t take them for granted.
Create your Winner Circle. Seek people on the same financial path as you so you can encourage and support each other.
Improve your knowledge. Turn off the TV. Read as much as you can. Understand the world around you so you can make informed decisions.
Stop the negative talk. You are GOOD ENOUGH. Start your new life with optimism and courage. Forgive yourself and others and move forward with your life. Where you've been is not as important as where you're going. Let the power of grace into your life and invite abundance in.
Investing takes time and effort, but your financial future is worth it. Remember, luck is 99% work and 1% chance. The odds are in your favour. Arm yourself with information, put in the hard yards and watch the opportunities present themselves. And remember to always seek financial advice.
Next week, discover how you can find a Money Mentor who’s right for you.