If I don't add another penny to my investment account, it will still grow to $5.9 MILLION by the time I'm 65.
How the heck did I go from bring a social worker on food stamps to becoming a young millionaire? It's all thanks to investing early, often, and with the right mindset.
The truth is, you can't save your way to wealth. If you saved $500 a month for 30 years, you would have $180,000 - not nearly enough to live on. If you invest that same amount, you will have $1 million at the end of 30 years. This is the lifechanging power of investing.
You've been thinking about investing, but it feels risky, so you just keep your extra cash in your savings account until you feel ready.
Here's the thing - you'll never FEEL ready unless you learn how investing actually works! And the good news is, it's less complicated than you think. Investing is like going shopping at Target - you grab a shopping cart (aka set up an account online), put in some spending cash, and then buy things! Only what you're buying are pieces of companies like Google, Apple, and Tesla. As the company's value goes up, so does your investment, making you profit. P.S. If you have a retirement account, you're already an investor - you just haven't ever thought about it that way!