“The journey of a thousand miles starts with a single step.”
You’ve probably heard that quote so much that it starts to lose it’s meaning. But behind the cliché, there is valuable advice that I’ve used over and over to get started and stay motivated.
Whether that’s been in the gym, starting to run ultra-distance races or investing for the future, the most important thing I’ve done is to…
ACTUALLY START!
Sounds simple, but we’re often stuck in analysis paralysis - where we take so long looking at all the options that we never take action.
There’s a real physiological reason behind this too - you actually get a dopamine hit from saying you’re going to do or achieve something. It’s like your mind thinks you’ve already done it! Weird, right?
And when it comes to investing, it’s easy to put it off until later. But did you know that just £10/week (or $10/week if you prefer) can add up. A lot.
In fact, if you saved £10 a week for 30 years (and that compounded at an average of 7% - achievable) guess what you’d end up with?
£50,000. No, really. The best time to do that was 30 years a go, the next best time is now. I’ve been doing that for years, just little and often into retirement savings and stock markets. It’s worked out so far and I just wish I’d started doing it sooner.
Let me know what you think - is it something you’d try?
Neil
P.S. Thanks to everyone who requested my 16 money tips guide. I’ll have that finished and out to you soon. Also I use the Trading 212 app for investing now as you can put £10 a week (or £5) and invest it in loads of different investments. You can sign up using this link and get a reward up to £100 (I’ll get a little reward too). This isn’t financial advice and is just for general information/entertainment purposes.
