I get it. You work hard for your money! You might be thinking why would risk it in something I know nothing about, that really doesn’t interest me, that could result in me losing money? Because I can lose right? Right. Well, I’m hoping that these blogs help close the knowledge gap so that it reduces your chance of losing money and increases your chance of making more money. And then hopefully, as you learn and realize that it isn’t as difficult as it could seem, and you start to make money, it might interest you more.
When done right, you can grow your money from $10,000 to over $1 million in 30 years. Say you invest $10,000 and it grows at roughly 7% a year. Every ten years it will double. If you can invest $10,000 every year for 30 years and average 7% a year you’ll have $1,010,730 in 30 years. The best part is that all this money making is going on in the background with you just overseeing it. What’s not to like about that?
I know what you are thinking. With my luck, it won’t grow at 7% a year. First of all, know that you are going to be investing, not gambling, and there is a big difference. You don’t need to rely on luck. As we know, “luck is what happens when preparation meets opportunity”. The really great news is that unlike a casino, the odds are in your favor, as the market overall has been going steadily up over the long term. Of course, there have been lots of drops along the way and that is where the discipline to hold on and not panic will come in . More on that later.
Final answer to why you should invest in the stock market? To make your money work for you. Or as legendary investor Warren Buffet says:
Retrieved on 02 March 2021 from https://www.azquotes.com/author/2136-Warren_Buffett