Plan Your Investments to Get Rich
When it comes to Investing, most of the people run away. They give you a very nice excuses such as Investment is risky, I don’t earn enough money to invest, at the end of the month, nothing left behind for Investments and many more…
Well, all of the above are the excuses for not investing money. Let me give you the example of typical middle class mindset. Their Fincial plan is very simple: They spend when they have money and they stop spending when they don’t have money.
They live paycheck to paycheck. They never owned any Stocks, Bonds or Mutual Funds but they owe (Debt) on many items that they buy every year such as TV, Washing Machine, Automobiles …etc..
They have never allocated any Income aside for long term Investments nor they have build any Emergency Fund. They think that, Investment is a game of rich people and they are middle class so they should not invest. This thinking shows that they are poorest in Financial Education as well.
This kind of mindset severely affect the long term financial future of their future generations. Because it is very easy to take a loan for these people to buy household things but when it comes to buying assets (Stocks & Bonds) they run away giving excuses that, it is risky or it’s a game of rich people and so on..
If you are grown from such kind of family than let me tell you straight forward that, you seriously need to change your mindset. You seriously need to think of increasing your Financial IQ.
What I Advise you is that, start reading some personal finance & Investing books, magazines, audios and Blogs on daily basis. At least spend 1 hour a day for increasing your financial IQ. Believe me, this will really hel you to change your mindset.