The ambiguity of the word “investing” is the fastest way to confuse an average young adult these days because it seems like such a big decision, you instantly start to ask questions of how? why? When? What do I invest in?
Consider investing as savings that’s the first stop. Questions of Where do I save so that I don’t touch the money? what do I save for? how do I save, how do I make some more money in addition to this saving? –investment creeping up, then what do I do to ensure I save? Habits to build creeping up, you then naturally start to open your mind to investing and just like a habit, it takes a while to stick. Some say it takes an average of 60 -90 days to develop a habit, I’d say the point is just start, don’t stop, just save that small change.
One of the benefits associated with consistent investing is it becomes a part and parcel just like any like any other habit, there is a potential for compounding interest, you always have something to fall back on, It is a guaranteed habit to get rich, it is easy to correct investment mistake.
According to a post from Folio Investing, “If you invest consistently such as by adding a steady dollar amount to your investments regardless of what the market is doing, you free yourself from worrying about when best to invest, and you’ll likely invest more overall and ultimately you reach your goal without even thinking about it, the goal is to focus on you and just you.