Always start early
I grew up in the ’60s and ’70s and what most people focused on during those years was having a big house (which was important), a nice car, designer clothing, and as some called it…..keeping-up with the Jones’s. We thought like we were consumers. People that build wealth think differently…they understand that you have to let your money make more money, and avoid engaging in spending on material things that yield negative returns. Over the past four years I have followed the wealth-building principles of a person that has a PhD. in finance, he also taught finance at several well-known colleges, and universities he says that investing should start early. He recommends we purchase our kid’s stocks at birth, for example, you save $5 per day which equals $35 per week and you continue this for twenty years you will have saved $36,400.00 but if you invested this money in the stock market which average return is between 4% -5% the $36,400.00 could be worth about $182,200.
So starting to invest early is key to this process of growth. Five, ten, fifteen, or twenty years will come and go most of us spend $5 a day on things like beer, chicken boxes, and things that we don’t need so let’s change the way we think in doing so, we can truly ensure a brighter future for our next generation I want to encourage each of you to began have talks with your family about this very simple process and you will find that such discussions will transform the way that everyone in your household will begin to understand how to change their financial situations for the better.
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