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Delayed gratification can significantly improve your chances of success while also avoiding distractions in life. However, we aren’t afforded the same luxury when it comes to delayed investing.
Life insurance policies are reasonably discounted when you’re young and healthy. The longer you wait to secure a policy, the more the premium will be in the future.
Investing is the same. The more we wait to invest, the more we will have to pay a premium price for assets in which we choose to invest. Would you rather pay $2 for a share of Apple stock, or $136 per share? Would you rather have paid $40 for one Bitcoin, or $38,000?
We know that the sooner one invests, the better their outcome in the long run. People often delay their investing because they misjudge time. If you approach life as if you don’t have the luxury to waste time, you can increase your productivity 20x.
The first major step when aspiring to be a successful investor is to become educated. Wisdom comes in understanding the power of financial markets. Once understood, you will seek ways to increase your capital in order to invest in the markets. That can be as simple as taking on a second or third job, finding a side hustle, starting a business, or in some cases -- if you’re good -- you can day or swing trade. Once you’re educated, it’s time to put your money to work.
Delaying investing is a sure way of missing out on discounted prices in the markets and having to pay premium at a later date.
To combat this, it is beneficial to perhaps seek ways to engage with the market with whatever capital you have at the moment. Invest what you can. This isn’t gambling. Over time, what little you do have will be worth more.
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