New Year resolutions and investments do not make good bedfellows. Oh, you may think that deciding to begin an investment plan in the new year is an admirable thing…but investing for wealth is not something that depends on a particular time for commencement – nor is it something that you only think about in the first flush of the new year. Because wealth building should already be part of your life on a daily basis, not something that has to be resolved upon at year-end happy hour. Wealth building through steady investment should be a lifestyle long before those new year’s eve celebrations.
There is a perception among many people that in order to become rich you need to be a stock market fundi, a brain surgeon, a CEO – or you need to win the lotto, inherit old money, own your own business, marry a wealthy person. They believe that an ordinary individual, earning an ordinary salary, does not have – nor will ever have – the capacity to become wealthy.
Nothing could be further from the truth.
And the truth is so simple it should be hammered into your head during your last year of school. Begin to invest with your first paycheck and remain consistent and steadfast with increasing contributions throughout your working life. Note the word ‘invest’ not ‘save’.