How to Become an Investor
There are only two steps necessary to become an investor.
Learn How to Save…
…not in big amounts, but every month…like clockwork. You will learn how to defer buying today in order to gain rewards tomorrow. I have never met a good investor who was not a good saver.
Learn How to Procrastinate
Yes, I know this is not what our mothers taught us (“Clean up that mess now!”). And yes, I know that procrastination can bring conflict into relationships. I am a professional procrastinator and am married to a woman who never, ever procrastinates. Trust me, we have to manage this conflict every day.
But when it comes to investing, why is procrastination so critical? It’s simple. No good investor is ever in a rush to lose money. So take your time. Second, I have lost count of the times I have procrastinated on a new offering only to have the seller sweeten the terms!
“Don’t just do something, stand there!”
Does Warren Buffett agree? Consider this famous quote from him: “Don’t just do something, stand there!”
You might ask why I have not mentioned that you should learn to invest.
Learn to save first. Then you will have to learn how to invest those savings. That will take some time. But trust me, you will learn.