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Investing Principal #1 – Why should you invest? By investing today, you invest in your future with the hope of achieving a better quality of life.
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When you invest today, you may earn a reward you can enjoy in the future. It’s prudent to balance tomorrow’s rewards with today’s pleasures. Spend a portion of your monthly budget on enjoyment now, but also make sure to save and invest for the future. Maintaining a healthy balance is key. After all, it’s important to enjoy life today—just in case tomorrow never comes. And if we do live a long life, it’s comforting to know we didn’t spend everything we earned or borrow against our future – so we won’t have to work extra later to make up for it.
In contrast, when you use a credit card to gain enjoyment today, you are borrowing against your future time. You will have to work more hours to pay off your credit card balance and will have less free time later. Instead of borrowing against your future time, start investing in yourself. You’ll feel better each month knowing that you are building toward a future with more free time and a better quality of life. Invest in yourself – starting today.
Disclosures:
The analysis is based on historical data and future expectations that may not be correct. This paper was written as an opinion only. The data is not guaranteed to be accurate or complete. Please consult with your financial advisor before making an investment decision. Neither ECNFIN.COM nor its author is responsible for any damages or losses arising from any use of this information. Past performance doesn’t guarantee future results.
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By Ivan Sichkar, CFA, FRM, CFP®
5
33 ratings
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Enter your email address to follow ECNFIN.com and receive notifications of new articles by email for free. Be the first to read and do not miss future timely research publications.
When you invest today, you may earn a reward you can enjoy in the future. It’s prudent to balance tomorrow’s rewards with today’s pleasures. Spend a portion of your monthly budget on enjoyment now, but also make sure to save and invest for the future. Maintaining a healthy balance is key. After all, it’s important to enjoy life today—just in case tomorrow never comes. And if we do live a long life, it’s comforting to know we didn’t spend everything we earned or borrow against our future – so we won’t have to work extra later to make up for it.
In contrast, when you use a credit card to gain enjoyment today, you are borrowing against your future time. You will have to work more hours to pay off your credit card balance and will have less free time later. Instead of borrowing against your future time, start investing in yourself. You’ll feel better each month knowing that you are building toward a future with more free time and a better quality of life. Invest in yourself – starting today.
Disclosures:
The analysis is based on historical data and future expectations that may not be correct. This paper was written as an opinion only. The data is not guaranteed to be accurate or complete. Please consult with your financial advisor before making an investment decision. Neither ECNFIN.COM nor its author is responsible for any damages or losses arising from any use of this information. Past performance doesn’t guarantee future results.
Never miss an episode
Subscribe wherever you enjoy podcasts:
Apple
Spotify
Amazon
Our Mailing Address:
ECNFIN
1288 Kapiolani Blvd Apt 4003, Honolulu, HI 96814
Our Phone:
+1 720-593-1135
Our Fax:
+1 720-790-7606