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Obedient Investing (11 of 12)
You are now well on your way to becoming a successful investor. All of your protection is in order, your accounting system is working, and your family is now living a debt-free lifestyle. Next in the progression of becoming a successful investor is to begin to consider a specific investment program, that will develop a contingency fund equal to 36 months of your actual living expenses. This fund should be kept liquid and in place, available to you for any unexpected needs. Procrastination may be the greatest single hindrance to a family's successful investing. They simply never get started. They are always waiting until next year or until they have more money to invest. There always seems to be a good reason why you should not invest now. When I first began to teach family finances I used as an illustration all the things a family could do with $1,000. People would get excited because they did not know about the many things that could be done with a $1,000 investment. They would walk up to me after the meeting and say, "Just as soon as I get my hands on $1,000 that I do not need, I am going to invest it."
Let me ask you. How long has it been since you had $ 1,000 that you did not need. The investor at the beginning understands that $1,000 is equal to 1,000, one dollar bills stacked on top of each other, and that may be how you will get there - one dollar at a time. But you must begin where you are now!
I attended an investment seminar recently where the instructor began to teach at the level of $10,000 investments. Knowing the people in the audience, I would say that 90 percent of those at the seminar did not have $1,000 to invest at the time. Certainly, there were few if any who had $10,000. Since there are so many seminars available and so many books that have been written on investments for those who may have $ 10,000 to invest, I want to dedicate this space, in this book, to the beginning investor. I would l ...
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