Working for money is a part of our existence. Most of us learn from an early age that a large part of life involves using our time and talents to produce income on which to live. What about the concept of our money working for us? Now isn’t that a nice thought? Successful investing is about just that.
What thoughts come to your mind when you think of investing? Is it fear of loss of principal stress over not spending the necessary time learning how to successfully invest or perhaps a different feeling triggered from childhood? Now shift to thinking about a sum of money well invested in an asset that compounds with little effort on your part beyond the initial research and subsequent monitoring. I imagine the latter thought produces quite a different feeling a nice positive one. Try to keep this thought in your mind as you consider your investments.
Now figure out exactly how much money you currently have compounding and at what rate. If you need some help with this download the free spreadsheet on my site and fill in your investments. Knowing just how much money you have compounding encourages saving more which automatically increases the amount you have compounding. It is especially nice to think that your money is working for you when you are sleeping or relaxing on vacation. Make it a goal to get that number calculated and in your mind before you take off for that trip this summer.
Safe and pleasant summer travels. (And if you are driving may your tank be small!)