Investing can be simple, and while there’s always an element of risk, it can be minimized and managed. If the idea of investing your money tempts you, here are five of the things that you should do first…
All in Passive income and retirement
Investing can be simple, and while there’s always an element of risk, it can be minimized and managed. If the idea of investing your money tempts you, here are five of the things that you should do first…
Growing up I was taught that if I want to make good money or a lot of money, I had to be willing to work super hard.
I bought into this belief and learned to work hard.
I spent my twenties mastering hard work, reading up on how to push through exhaustion to get to my second wind.
I truly believed that if I worked hard enough, people would eventually notice.
I believed this until I connected my lack of sleep to my anxiety and connected my anxiety to my panic attacks and my depression and connected my depression to my digestive issues.
That’s when I decided: no more!
My mental, emotional and physical health was too important.
I stopped buying into this concept of success and started asking myself key questions: how can I build a company and still prioritize self care and pleasure? How can I increase my income with ease?
How can I think wealth creation or debt repayment when I have no money coming into my life and I am totally broke?
I often get asked this question.
I get you!
Trust me, I have been there so I want to share a story with you.
In 2011, I was totally broke and done for. A friend of mine introduced me to a coach, Jo Ntsebeza (she’s one of the many witnesses to this journey) and I asked her to coach me.
I used the very little I had to pay her instead of paying my debt because I was on the brink of ending my life but there was a part of me that wanted to make a last effort.
Also, I had gone to a vipassana meditation retreat, that helped me see that my emotions were playing havoc on my life.
One of my greatest fears is the fear that if I keep financially expanding and allow myself to succeed beyond my wildest dreams, then I will lose the people in my life because they will reject me.
I call this the fear of losing love.
The need to be loved is one of our most basic needs.
Research has shown that babies who are starved of affectionate touch can actually stop growing and can become ill. It’s not enough for babies to be held, they have to be nuzzled and kissed, they have to be held in a way that makes them feel loved.
So as adults, it makes sense that we’d also want to hold onto the love we have in our lives and not lose it.
People usually use their lack of money as the primary excuse for not investing.
But when will money ever be enough? When you reach 45? 50? 60 or too old to count?
Investing while you’re broke is possible; you just need to make that mindset shift.
Since paying off my debts, my focus has been on building an investment portfolio, but between traveling and building Wealthy, I don’t have much time to research shares so I’ve been a passive investing strategy.
This is a long term investment strategy, where instead of investing in individual shares, you invest in market indexes like the Dow Jones, Nasdaq, JSE Top 40 or Satrix 40 (exchange traded funds) etc.