Find the best place for your money. It’s funny, I remember vividly a conversation a UK Chautauqua 2019 about this topic. To me it is somehow liberating seeing even a extremely successful guy have the same question.
Now, Tony and Gary are two shall we say animated personalities. I personally believe we can learn from everyone. I categorize Gary as a Shark, he is always moving forward trying to find the biggest gain and is one hell of a businessman.
I have no problem following the guidance from Mr. Collins, invest the money as soon as you can and with as much as you can afford. Day trading and timing the Market to me are more of a Gamblers Sport and I believe it is driven by their personalities. The link for the Blog is https://www.facebook.com/51535068349/posts/10157061223088350?sfns=mo and it is a near copy of the conversation I heard during our discussion.
Ultimately it’s all about the prior planning of your retirement/investment plan. You do simple math. What do you need to live, what do you need to live day to day and finally what percentage of your total income can you afford to invest. Ultimately the more you sacrifice on the front end the faster you will meet the goal on the backend.
One of the great things I learned talking to all these investment planning gurus was it’s not out of anyone’s reach. The biggest barrier people need to break is the keeping up with the Jones mentality. Wanting things isn’t bad, as long as the desire for them is originated from self. If your are chasing facebook friend and Hollywood style norms and view those as a measure of success, in my opinion you’re doomed to always be disappointed and destined for failure.
Self reflection is a large part of becoming independent, if you don’t know what you want you will always be searching, often using others social media as a deck of cards your pulling from.
WHAT IS A CHAUTAUQUA?
A Chautauqua is a week long retreat with talks about Financial independence (FI), early retirement and happiness. You’ll spend a whole week with incredible bloggers and podcasters like JL Collins, Kristy and Bryce from Millennial Revolution, Carl from Mr 1500, Alan Donegan from PopUp Business School and many more.