The Biggest Hindrances To Investing

Many of us have dreams of retiring to vacation homes, touring the world, sending our children to the best schools in the world and so much more. Yet, these desires do not do so much in spurring many people to invest.

Everyone wants to earn money. Everyone wants to build wealth. As the popular old song by Hubert Temba goes, “Everyone wants to be a Millionaire.”

Many of us have dreams of retiring to vacation homes, touring the world, sending our children to the best schools in the world and so much more. Yet, these desires do not do so much in spurring many people to invest to seek to provide that future for themselves.

Why? Here are the most common options on the list so you know which boat you fall into and how you can get out:

Indecision and Procrastination

Individually, these issues are in no way good. Indecision will leave you spoilt for options and static for a long time while procrastination will have you pushing the entire game of investing in an unknown future.

Unless you have some kind of Billionaire trust fund waiting for you, you’re at risk of living constrained for the rest of your life! The best solution for indecision is to choose an investment option and the best solution for procrastination is to start now.

The hindrance of indecision can be a deeper challenge like fear of losing your money. As such, a great option is to invest in treasury bills. Not only will you discover new confidence that comes from having money invested and growing without your active input, you can pick up the momentum from a place higher than ground zero.

High Cost Of Living

Another really important hindrance to investing is the high cost of living of many homes. Unfortunately, the rise in inflation doesn’t make things any better, as the cost of everyday items will keep increasing.

And even though your income might be increasing, it just might not move fast enough to keep up with the raging double-digit inflation rate. Rather than worry that your income is not enough for you to manage your cost of living and still set some aside, reduce avoidable expenses and seek to create new sources of income.

By reducing your expenses, you will have the opportunity to invest a portion which, if invested in the right stocks, your funds will rise above the inflation rate. More so, with compounding, you will be able to grow your funds exponentially! Ultimately, the sacrifice will only be for a short period of time.

Fear

People have so many fears of investing. What is even sadder is that many of these fears do not come from a place of solid information. It might be because of what your parents said they experienced years ago or even one of two recessions you have witnessed or heard about.

The best way to circumvent fear is to have solid information. Seek to learn more about investing and you will have all the information in the world to embark on the journey without worry. Luckily, if you’re reading this, you’re already in the right space.

Written by Lawretta Egba.