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Time is your friend when it comes to investing. We always seem to be short of it and cannot get ourselves to think in 5 – 10 year blocks. Life is too short, right? But when it comes to accumulating assets and sharing wealth from successful companies time is essential and 5 – 10 years are not so long. There are no miracles, silver bullets or shortcuts in creating wealth. And when I say wealth, I mean just creating a bit of capital over and above your current needs in order to let this amount grow over time, let it accumulate. Let’s face it, there is a very small chance you will be able to a) win the lotto, b) invest in a company which will give you a lotto win pay-out or c) get lucky in another way.
Time is your friend when you have plenty of it. Use it! The earlier you start investing in good quality companies, the better. I know it is hard, but try, if you can, to forego your desire to spend on what seems an essential item and invest instead. Be patient and there is a really good chance you will be rewarded. The stock market is a complex dynamic system, just like our lives with all its complexities, it’s mood-swings, it up’s and down’s. But with time it will more than likely work out for you, so be patient.
Time is your friend when you have the opportunity to invest in emerging companies you read about or use their services or products. You are impressed with these companies. Why not take advantage of the possibility to share their success by investing in them early and growing with them. The infrastructure is there for you to do so, think about Google, Amazon and Apple as some big emerging household names that emerged as leading companies over the last 10 years. It takes time to build great companies.
Time is your friend when it comes to doubling your money. The real clue is to keep doubling your money over time. It will take about 20 doubles to make a million dollars if you start with one. We all have one dollar so let’s get started and take the long view because doubling your investments takes time. Don’t get distracted by the short term. Life is short but also expensive so take the long view and share in the wealth by investing in successful companies.