Smart Thinking On Investing – August 18
The guys at ThinkSaveRetire head up Smart Thinking this week and they’re taking crap from no one about being able to retire early. Bason Asset’s James Osborne digs into social pressure and status. And Cole Schafer, writing on Medium, teaches us to change the way we think if we want to be wealthy.
The Financial Panther asks why anyone invests in expensive funds. And Piggy from Bitches Get Riches reveals what she learned from reading about Warren Buffett…
It’s All a Matter of Perspective
- Some people believe that those who retire early are doing so by simply being “cheap as f$*&”
- Instead, it’s about having a completely different point of view; those who have achieved retirement early haven’t necessarily been misers, but value seekers
- Being comfortable and living the dream retirement lifestyle is, at any age, a matter of making smart money choices and demonstrating self-control—it’s not rocket science
A Fear of Stigma
- Many of us feel a certain amount of social pressure about money and status from friends and family alike
- That the houses we live in, cars we drive, and clothes we wear must say a particular something about the money we earn
- But this is not the key to happiness that we believe it to be, don’t buy into the American Dream for the sake of it, be happy with what you have instead
What status and social pressures do you feel under? Share your comments in the section below
Want to Be Rich? Then Think Rich
- To stay wealthy, you must change your mindset and think the way successful folk do
- This includes reading and expanding your knowledge base, as well as facing your life challenges head on and being resourceful
- Don’t just save, but get investing too, and set yourself career goals and life ambitions that you want to achieve—think big, think rich
Why Would You?
- Why do some investors pay up to ten times more for expensive funds when you can instead spend a mere 0.1% in fees?
- Usually, this kind of investing stems from a lack of financial literacy about the best—and cheapest—ways to invest
- Maybe someone has advised you to invest that way, or you’ve picked funds with a brand name, or perhaps you believe the expense is tied to performance?
- Whatever the reason, it’s time to change your stance and invest in low-cost alternatives
Warren Buffett: The Wizard of Omaha
- Warren Buffett teaches us to think of every dollar spent as the equivalent of $10 (so, a $5 coffee is $50)—it’s a sure fire way to make you think twice about major purchases and cut down on wasteful spending
- Making money is a necessary evil in life, but don’t let your path to becoming financially free distract you from actually having a life
- Start now, actually start yesterday; the sooner you begin investing, the better—only then can you take advantage of the genius law of compound interest
Do you want to start investing on your own, but don’t know how?
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