Earlier this month, I asked a bunch of people on Twitter why they don’t automatically invest.
Follow me on Twitter.
No judgment. If you don’t automate your investments, that’s fine — but I want you to consider this:
What are your beliefs costing you?
For example, the people who don’t automatically invest often believe they have very good reasons:
- “I like to have control”
- “I don’t have a lot of money right now”
- “I like to invest when the market is down”
Unfortunately, their beliefs will probably cost them hundreds of thousands of dollars over their lifetime. They think they’re doing the right thing, but they don’t know that if you miss the best 5 days of investing (over a 20-year period), your return would shrink from ~7% to ~5%.
That’s probably one of the costliest decisions they’ll ever make.
So, what are your beliefs costing you?
When I used to think I was just a “skinny Indian guy,” I believed that gym bros were dumb jocks who guzzled protein.
That single belief cost me years of looking better, learning the technicalities of fitness & nutrition, and cost me in personal relationships, too.
Think about these common beliefs. What are the costs of believing these things?
- “College is a waste of money”
- “I’m an introvert so I can’t do that”
- “I have a slow metabolism so I can’t get abs”
I’m curious to hear from you.
I want to hear about a belief you had — and what it cost you. Share your belief in the comments section below.
What your flippant beliefs cost you is a post from: I Will Teach You To Be Rich.