Thread: Investing 102
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Old 12-12-2011, 11:28 PM
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Simmo Simmo is offline
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Some great advice here!

WSSix - you've made the first step which 9 out of 10 of us dont, and that is ASK! A lot of people dont think they're smart enough, and it would be easy to get half way through Gregs post and feel a wee bit lost, but as car guys we can rattle off what make, model, year, engine code and trim level of that car on the horizon is, and what mods are required to screw x amount of horsepower/shave x seconds off a lap time......it's simply because we've applied ourselves and invested time to educate ourselves in our hobby.

With that level of dedication in investment we'd all be ticking that top box. Reading "Rich Dad Poor Dad" R. Kiyosaki (I know it's outdated and the concepts over-used now, but it's still got to be the best 1st investment book IMO) was a light bulb moment in my life. It's funny how I've more or less forced friends/family to read it and for some, it had the same effect. Okay others did'nt take the message on board....but dont be one of those people, this is 1% brains and 99% mind set.

I'm no where near cracking a million, but I'm certainly on the right track and have totally changed my spending/savings/investment habits and am continually investing in my education to expand my ability to invest. Next time you pick up Super Chevy, put it down and pick up "Investor" or whatever it is you have in your part of the world and get started. Time is your friend, I'm in my 20's and doing it tomorrow is not an option.

Lastly, someone mentioned health earlier. It is your greatest asset. Preserve it. I've had a minor set-back in this area lately and it's never been more true for me, however having made a few savvy investment decisions beforehand I'm well placed to recover nicely.

My 2c... go buy a book now
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