September 1, 2022
Some people never pay themselves first. After most people have paid for their necessities, there seems to be little left for investing. This dilemma is often based on a certain mindset. Procrastination can be complicated by rising costs due to inflation, which may shrink disposable income.
Are you a Consumer or an Investor?
As a “Consumer”, one can find a common problem: there is never enough paycheck left at the end of the month for investing. However, is this a question of income or spending patterns? The first barrier to investing is a “perceived lack” of investment capital, often not reflecting reality. Unfortunately, what we think becomes our reality. During inflation, for example, people generally pare back unnecessary expenditures.
Conversely, “Investors” take an honest mathematical look at their expenses, separating discretionary income from what one needs to live on, knowing those impulsive buying decisions, even purchasing many small things on sale, can add up. This disciplined view allows them to have money to invest. They make every opportunity to invest in themselves first with strategic investment goals. Once paid, their first “consumption” would be an investment decision suitable to their goals and objectives. The rest of their paycheck is then spent without worries on required consumption for the rest of the month.
Investors get good advice and then act.
Many people are impatient or confused when it comes to the science of investing. “What does it mean to be a successful investor?” If an individual doesn’t understand the answer to this query, they may never proceed to invest for retirement or any worthy goal needing significant amounts of money saved. Actual “Investors” all have a crucial characteristic that makes for success—taking the right action with professional advisory assistance. They also understand that without experience and knowledge, investment decisions can be made in haste, potentially destroying an otherwise sound investment plan.
Publisher's Copyright & Legal Use Disclaimer
All articles are a legal copyright of Adviceon®Media.
The particulars contained herein were obtained from sources which we believe are reliable, but are not guaranteed by us and may be incomplete. This website is not deemed to be used as a solicitation in a jurisdiction where this representative is not registered. This content is not intended to provide specific personalized advice, including, without limitation, investment, insurance, financial, legal, accounting or tax advice; and any reference to facts and data provided are from various sources believed to be reliable, but we cannot guarantee they are complete or accurate; and it is intended primarily for Canadian residents only, and the information contained herein is subject to change without notice. References in this Web site to third party goods or services should not be regarded as an endorsement, offer or solicitation of these or any goods or services. Always consult an appropriate professional regarding your particular circumstances before making any financial decision.
Mutual Funds and/or Segregated Funds Disclaimer
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investment funds, including segregated fund investments. Please read the fund summary information folder prospectus before investing. Mutual Funds and/or Segregated Funds may not be guaranteed, their market value changes daily and past performance is not indicative of future results. The publisher does not guarantee the accuracy and will not be held liable in any way for any error, or omission, or any financial decision. Talk to your advisor before making any financial decision. A description of the key features of the applicable individual variable annuity contract or segregated fund is contained in the Information Folder. Any amount that is allocated to a segregated fund is invested at the risk of the contract holder and may increase or decrease in value. Product features are subject to change.