Sooner or later every investor and trader I’ve ever met asks the question …
… “is it really possible to become a millionaire if you don’t have a lot of money to start with?”
Obviously, it’s not as easy as many people think. Make no mistake about it, there will be ups and downs. Even losses along the way.
The key, though, is surprisingly simple.
I’ve talked with tens of thousands of investors around the world during the course of my career, and many are “beaten” before they start.
Because they fall prey to get-rich quick schemes, fancy trading seminars and all sorts of investing related hooey that races across the Internet. Worse, they’ve decided they’re only going to “lose” so much in the effort to line up big profits.
That strikes me as a lot like going to Las Vegas which, now that I think about it, was built and paid for by losers… not the casinos who simply prey upon them under the guise of having a great time.
Building real wealth takes diligent effort, focus, and discipline.
Think back to 2001 when the late Steve Jobs promised “1,000 songs in your pocket” using a never before seen digital music player he called the iPod. Millions of people couldn’t wait to plunk down a cool $399 to get one.
Then, as now, many wanted stuff in the name of instant satisfaction. There’s nothing wrong with that if that’s what floats your boat.
Consider the alternative, though.
Had you taken that same $399 and put it in Apple’s stock instead, you’d be sitting on more than $93,000 in Apple shares today.
If that’s not an eyebrow raising, WTF (to use an acronym I can’t print to get your attention) moment, I don’t know what is.
Most investors break down because they get so focused on things they want – iPods, fancy trucks, cars, hot tubs… “stuff” – that they fail to grasp the power of what everyone else “needs.”
We talk about that a lot when it comes to investing because knowing the difference can make a huge difference in your financial well-being. Not to mention your life for generations to come.
Many folks hear that and tell me they don’t have “time” when it comes to building wealth, but I beg to differ.
Apple Inc. (NasdaqGS:AAPL) doubled last year.
Alphabet Inc. (NasdaqGS:GOOG) has tacked on 190% over the past five years.
Amazon.com Inc. (NasdaqGS:AMZN) has chalked up 1,760% over the past 10 years.
Each of the companies I’ve just mentioned could easily double in the next 12 to 24 months, barring a major market reset. There’s actually plenty of time.
Obviously, I can’t make you do anything you don’t want to do. I have no idea if you’re going to latch on to the importance of what I’m telling you.
What I do know beyond any shadow of a doubt, though, is that you’ll “get there” faster (and so will your money) if you pay attention.
The world’s best companies are creating wealth faster than at any point in recorded history, and the markets reflect that.
The Dow, for example, first crossed 1,000 points on November 14, 1972 after an 88-year run.
The Dow hit 2,000 fourteen years later on January 8, 1987.
Fast forward to 2017 when the venerable index crossed from 24,000 to 25,000 in just 24 trading days from November 30, 2017 to January 4, 2018, the fastest 1,000 point run in market history.
People also tell me frequently that they don’t have a lot of money to invest, that they’re starting late, that they’re uncertain. Those are ALL valid concerns.
They’re not show-stoppers though.
You can buy a single share of any of these companies any time you want if that’s what you can afford. Ironically enough, Apple is trading at $322 a share or $77 less than the original iPod as I type. Alphabet is at $1,525 a share while Amazon is at $2,183.
Or, you can start by investing in a mutual fund like the Vanguard Wellington Fund (VWELX) which offers you exposure to all of these names, plus another 41 holdings with high growth potential in the tech space. The initial investment is a low $3,000 and the expense ratio is an ultra-low 0.25%.
If you’re after a new choice, one that you haven’t thought about before, I urge you to check out Money Map Report. I just released a brand-new recommendation last week with the potential to triple in 36 months or less.
You can click here to check out the recommendation, and many more just like it!
Until next time,
The post The Answer to YOUR Question (And A Great New Recommendation, Too)! appeared first on Total Wealth.
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