Make Time Work for you!
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Wealth building can be a time-consuming activity, but that time element, (taking a long time to build your portfolio) can actually be a benefit. You can make time work for you.
Imagine having a bare garden, nothing in it, it’s primed ready to go, but nothing has been planted yet. In two years’ time, it could still have nothing in it. Or in two years’ time, you could have an epic fruit orchard that’s starting to produce delicious fruit that you could plant again, and grow more trees, or you could start taking your first profits and baking a few cakes.
The same is true in finances, there is never a better time to start than now because, in any set amount of time, you could either have something, or you could have the same thing you have now.
HODL The Right Stuff (Hold on for Dear Life)
Time has another advantage, long term trends in stock and crypto markets are predominantly positive, which means even huge drops from large recessions and depressions, given enough time are likely to recover. I’m not denying how difficult financial stress in anyone’s life can be, rather I want to encourage you that the old saying “time heals all wounds” is often true in investments as well, rather, it can be with careful choices.
Choosing individual stocks or coins is one of the riskiest approaches, any single project, any single company, no matter how large can fail and their stock be reduced to nothing, and failing bailouts, additional investments, etc, you can lose all your money and have no way to recover it given any amount of time. A better way to leverage the “healing” benefits of time to your advantage is to try to diversify your investments across whole markets and industries. While they can still fluctuate, historically they can be less risky than individual shares.