Play the long game

Most good things take time—to mean it has to be built on a solid foundation and nurtured constantly.

Think of how a six pack is built, how a flower goes through various stages before it blooms.

Likewise when it comes to managing money and building wealth, focused investing for the longer term does yield benefits.

A proven step towards achieving it is through your habits—spending, saving and investing

One of the great mental tricks to play is to automate your savings at the beginning of every month!!!

When the above habit is adopted, the next powerful tool that kicks in is—compounding effect

Without even realising what it is doing to your wealth, you would hit a goldmine like in below story.

In his book The Psychology of Money, Morgan Housel narrates a story of a rural janitor who turns into a philanthropist. Yes, Ronald Read (janitor) meticulously invested over his entire work-life in blue-chip stocks. He ended up leaving USD2million to his step-kids and USD6million to local hospital and library.

No lottery wins, no inheritance!

To sum up, strength (habit) and length (compounding) of relationship matters the most when it comes to any long term commitment be it money, people or fitness.

Be at it!

#investing #money #wealth #like #letmoneywork

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Ramnath Sundar
Articles: 19

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