When I wrote Cash for Clunkers I freely encouraged my friends to follow the same. I even
shared with them what stocks to invest in. The portfolio which I hold as is
today, comprising 2 lesser stocks, is 80.17% up. None of my friends could
ride the wave. When is the best time to start investing? Tomorrow!
This is truer if the decision
involves applying one’s mind, like in investing or if it involves
arranging for papers and documentation. Making a simple commitment like paying
an advance can help tackle procrastination. If the decision involves signing a
cheque, people tend to procrastinate to overcome anxiety and stress in handing
money over. Often when one is exposed to too many investment options, he
tends to procrastinate.
The effect of procrastination
can be understood with a financial implication. A person investing Rs 25,000
per month from the age of 39 will have a retirement corpus at age 60, of Rs.
4.43 Crores (compounding at 15% per anum) as compared to a person who started
one year later at age 40, who would have Rs 3.78 Crores as his corpus. The
effect of procrastination by one year costs Rs 65 lakhs
As a great said "Don't use
the hardships of your past as excuses to deny the possibilities of your future”
A friend whom I
advised investing in mutual funds as he did not have enough time, is
today sitting on a 15% CAGR over a period of 5
years, that's a dream run. He took the first step to listen,
trust and start. The momentum took care of the rest. Most people
is today's world suffer from broken focus syndrome, there are
too many distractions, interests to pursue and options available.
Investors who did not act on
our 3 great investment ideas lost opportunities to make money. Huge money.
Our Cera
Idea made Rs 194 into Rs 1250 in 3 years.
The Killer
Idea which we Repeated again
went up 40% in 7 months.
