We know that Rome wasn’t built in a day; and that all good things take time. Today, when everything is about instant gratification, we are not programmed to think about benefits that might accrue 20 years down the line. The urgency to begin our personal investment journey is just not there. We accept that investing has the potential to improve our lives, yet a lack of basic investing awareness prevents us from appreciating how dramatic this transformation can be. No blueprint to show us the wonders of compounding. Fear of the unknown and a seemingly treacherous road (risky equity markets) keeps us in the starting blocks. But the numero uno excuse holding us back is procrastination—something we are all familiar with and guilty of. More on that later.
Key to long-term investing: ‘Time in the market’ more important than ‘timing the market’
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