“Your success and your happiness start with you.” – Zig Ziglar
You don’t need money to start making great investments. I have been learning, through my reading journey, that some of the best and most profitable investments I can make today can be made with zero dollars down.
The only thing I need to get started is a well chosen book, by an author with a wise message, some time, my attention, and then my application.
I see you rolling your eyes.
“A book!?” You exclaim with a dismissive chuckle. “I don’t need a book. I need a better job. I need more money to help me dig out from under my debt, and keep the lights on…food on the table. I don’t need a book!”
Thing #1: I love investing! But I didn’t know a blessed thing about it, other than investing could help you grow your money, or it could help you say goodbye to it if the markets fell. So I started to read. I read one book about money, called The Automatic Millionaire by David Bach. I learned about the power of setting up automated money transfers inside my bank accounts. Result: we set up automated transfers to our savings account. We don’t have think about saving anymore. It just happens each payday. We now have a growing savings account.
I read another book about money and investing called: The Wealthy Barber by David Chilton. Loved this book! Felt like I was having a friendly conversation with a barber, but we weren’t talking hair styles. We were talking investment strategies, saving strategies, and money smarts. Here I learned why you shouldn’t try to beat the market by day trading stocks on the stock market – that chimps and ‘well trained professional money managers’ tend to produce the same results when picking ‘the right stock to invest in.’ Go with index funds. Use your tax free savings account, and start investing in your retirement fund now. Not tomorrow. (Cus tomorrow will likely turn into you saying…I’ll start tomorrow.) Result: my wife and I pulled the trigger on our first tiny investment through a little service called Wealthsimple. Check them out. They rock!
I could go on, and I will in another post – but the books I’ve read over the last year have changed me. I’ve grown. With God’s grace, help and guidance – and with me nose mining my way through a dozen or so books, I’m now in a job I LOVE. I’m earning more, and I’m saving more. Pretty soon, as things settle down, we’ll be investing more too.
I’m not a millionaire. Not yet, anyway. Not even close. But investing time in reading (many books came from our local library, so I didn’t even have to put money out on them) has so far produced a massive return on my time investment. Well worth it!
Thing #2 You need a different conversation than the one you are having alone in your head. I learned another thing on my reading investment journey. Again, with less than $20 down the whole year. If I want something to change in my life, I need to start thinking different thoughts in my head. Books, the right books, can help expose you to new ideas that can lead to action in new directions.
Have you started investing in you yet? What’s holding you back?