Investing "One day I will..."
So its like 2:30 am and I recall a conversation I had with my older brother earlier today.
My 29 year old brother ~damn I'm just realizing how old he is~ has appeared to have always been financially stable. I'm only 21 and I'm learning everyday how life gets tougher as I try to increase my own independence.
Thinking about how broke I am and seeking advice I ask my brother how he succeeded in being so finally stable. I mean he has been in the military since he graduated high school, he has a house, a nice Toyota Camry, a nice motorcycle, he's traveled, been sky diving, he's assisted the family financially when needed, he's getting married soon, he has a 2 year old son, etc. etc... I mean he has handled his own very well. So after I asked him how he became so financially stable and he replied, "I'm not," I was shocked!
So my brother went on and talked about the good and the bad, where the military helped and just a lot of times where he was fortunate and blessed to be in certain financial situations, but his most recent financial status is becoming tighter. He mentioned he didn't really invest and wish he had...
And with that, I want to write this article around that word. Invest! Since before I graduated high school I have always wanted to invest in stocks. I learned about the stock market in 5th grade. If I had money then I would have invested in the market, but my parents were not giving me enough dollars for the stock market. It was a struggle just getting a dollar to get hot fries or pizza combos out the vending machine.
Then I got a job in high school, but between playing sports, taking an AP course workload, gas money, and trying to pay for my own things, saving money for the stock market never worked out. But I didn't lose hope. I was in high school. I would say "one day I will..."
Then I graduated from high school with some scholarships and took out loans and thought my refund check was just going to be AMAZING! $$$ but...
After my sophomore year I got an internship, and I was getting paid! I had never had that much money in my life. At that time in my life I was just tired of being broke, so when I started getting money I blew it! I'm talking about clothes, beach trips, electronics, bottles, girls, and no worries. Even though I was spending money I still was collecting more money than I had ever had in my life, so I figured splurging was okay. Wrong!! I had fun that summer (last summer actually). Then I came back to school and had rent to pay for my apartment, gas to pay for my 20-30 minute commute to school, and new member membership dues for my frat (GOMAB). Oh and not to mention I got a couple speeding tickets and my car broke down. So once again brokenness and I become friends. And also once again I was left saying "one day I will..."
So that brings me here. I realize that if I don't do something soon, I will continually allow excuse to scare me away from investing, and by the time I'm 29 I'll will realize that I missed out. As I speak advice to myself I believe its valuable advice for anyone willing to listen.
Times will always be rough as long as we allow them to. The same old thinking will produce the same old results. One can not expect to avoid financial strife if one does not work on their financial literacy.
Financial literacy is not only managing your money but looking for options to increase what you have. There is the already mentioned opportunity in stocks, there's real estate, there's entrepreneurship, there's bonds... There are plenty of different markets, more than I know. I'm not a business major but I won't allow that to be an excuse either.
With that being said. By the end of summer 2014, my goal is to have invested in the stock market.
I also challenge any one reading this to invest! Find that little window in your budget where you can save. Another alternative which seems to be popular this year is the 52 weeks saving challenge seen below. It also may help if in your challenge if you start at week 52 and work your way down to smaller amounts.
Feel free to leave comments/feedback
~Ryan C. Herbin
Very informative :) I definitely need to try this challenge !
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