When you have money, what would you do with it?
1. Spend it,
2. Save it,
3. Invest it,
4. Lose it,
5. Give it.
To spend, to save, to lose or to give it away, all these actions require very little effort from you. Only, to invest it is really tough, and it is so tough that to really do it well requires you to spend lots of effort and time to build up your investing knowledge and skills, and yet after putting so much effort and time you may even Lose it. That is the paradox of investing.
There are only 2 primary reasons to invest:
1. To preserve Wealth,
2. To build Wealth.
There is a saying that the RICH invest to preserve wealth, if they don't lose it, it is considered successful investment. However, the not so rich invest to build wealth and you can't afford to lose it..
So are you building wealth or preserving wealth? Each requires totally different strategy.
If you are building wealth, you may have to be a little more aggressive in your outlook and let the Magic of Compounding works harder for you. But, there is no free lunch, other than finding them in some temples or churches; you have to spend lots of time and effort to build up your investing knowledge and skills, and yet after putting so much effort and time you may even LOSE IT. That is the paradox of investing.
Happy National Day and may you build up your wealth as years go by!
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