What does it take to be a successful investor? Good question. How about this—what does it take to be a successful survivor? Do you really need the word “successful?” You either are, or you’re not. Right?
Being an investor shouldn’t be confused with being a speculator—someone who hopes prices go up. An investor thinks about the work that goes into creating generational wealth. The best way I know how you do that is by being an investor in yourself.
I learned a great lesson about being an investor when delivering newspapers as a kid. One of my customers tipped me four nickels for every dollar, or 20%. That was a good tip. He could have “afforded” to tip a lot more, but I think he enjoyed teaching me the math of it.
By being an investor in myself, I could get more houses to deliver to, keep the existing ones with good service, and the tips would add up. Rubbing two nickels together wasn’t going to make me a millionaire, not yet, but I was learning the process.
Action Line: There’s plenty of ways to separate you from your money. Penny stocks are one—trading cryptos may be another. Think about how you made your money like I did—one paper at a time—or one shift at a time, etc. When you remind yourself of how long it took to make what you have—what you had to do—you won’t be separated from it so easily. You’ll be an investor. You’ll be a survivor.
