WHY ARE YOU RUNNING?
When you see an animal running in the jungle, it is either chasing something or being chased. One thing you may not realize is that both outcomes are governed by the same emotion, FEAR. Though fear is a natural emotion, it is powerful and this very quality can either propel you or bring you to a screeching halt.
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To be brave, you have to step out of your comfort zone and define the moments made available to you. You get up every day and take risks like it would be your last and you make it work, because as much as fear can set you free, it can hold you back. Bravery requires you to give yourself permission to fail. You shouldn’t get petrified by your failures or mistakes; you should own them and use them to your advantage. One of these risks millennials are afraid to take is that of financial security.
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A lot of people find investing “scary and intimidating”. Though they are aware it is important, they are too scared, too intimidated or too uncertain to get started and sadly, this fear is very common among millennials.
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The good news is, these fears can be overcome and used to propel you to financial security. Here are some ways:
- Understand that investments are not 100% guaranteed. A lot of millennials are afraid of making a bad investment and losing money and this has kept them from investing. Though this fear is not without merit, it shouldn’t stop you.
While you will certainly make mistakes, and might lose money even if you do everything right, the returns you earn, good or bad, don’t actually matter much when you first start to invest. What will matter most is your savings rate. The more you save, especially early on, the more likely you are to reach your financial goals and your contributions will keep you on track even if your returns are lagging.
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2. Find a trustworthy financial partner. A lot of millennials do not know who to trust and this is a fear that is right on the mark. The world of investing is filled with so many voices, from the people who are actually trying to rip you off to those who simply don’t have any idea what they’re talking about.
Even though there are honest investment advisers, knowing who to trust is a challenge, but this shouldn’t prevent you from investing. Saversclub and Onesqm are investment platforms you can trust to help you put a top-notch investment strategy in place that works for you.
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3. You don’t need too much as a millennial to get started on investing. While you may not have an extra room in your budget for anything beyond your necessary expenses, you should have at least a little money available to save on Saversclub and this can help you get started for bigger investment options.
Saversclub makes it easier to save money, large or small, whether for personal projects and other investment purposes with no minimum or maximum savings amount and also allows contribution on a daily, weekly or monthly basis and the interest rates are wonderful.
Investing doesn’t have to be scary. In fact, the biggest mistake you can make is to not get started at all but when you start early enough, it can be the most powerful tool at your disposal.
Quell the fear and be the lion chasing a meal and not the deer running from it.
