Whether we realize it or not, our financial habits were greatly influenced by the people closest to us while we were growing up.
If your parents were spenders, you’re more likely to become one. If they were savers and taught you the importance of saving, then in all likelihood you’re a saver.
(Now, before anyone gets offended, remember: I used the word “likely” – not “absolutely”!)
I believe investing is more about habit then income.
Only 20% of your net worth is determined by your income. There are seven-figure households with a negative net worth.
As with anything else – diet, exercise, etc. – get in the habit when it comes to investing.
Put aside a minimal amount every paycheck. I don’t care if it’s $10. What’s important is getting in the habit of saving and investing.
If you’re already doing this, great! If not give it a try. Before you know it, you will be an investor!
Remember…this is the greatest time in history to be in the stock market! You don’t want to miss it!
Until next time, Joes.