What do you think? Am I right?
Watch the video: https://youtu.be/IeKns3i2Om8
Hey guys It’s Dave Barnett once again from
InvestLocalBook.com . I got a question from Sandra who simply asks what kind of
investments would I recommend for people that are young, like 18 years old and
you know what thanks Sandra for the question it’s a great question.
You know there’s two different ways you can go down
this path and one sort of voice of reason might say that a person who’s only 18
years old has the whole life ahead of them. So they should put as much money as
possible to really secure you know, sort of fixed income product that grow very
slowly because they have such a long planning horizon by the time they get to
sixty-five or whatever. They’ll have accumulated wealth I’ll be really well off
the problem with that kind of thinking. I believe is that number one you’re
wasting huge amount of opportunity that a young person has an eighteen years
old has.
If anyone knows anyone who’s young person just getting
out of High School or college, please please share this message. The
opportunity is that you’re at a point your life we have very little responsibility
and the risk of the save now and wait for later plan is that there might not be
a later you know. I unfortunately in my own life have all kinds of people
around me, who are in their sixties who are falling ill with different health
conditions and it really makes you understand your own mortality. And the risk
of being alive you know, things happen. So the whole idea that you need to work
hard your whole life and then at some point in the future, you’re finally gong
to be able to rest, relax and enjoy the fruits of your labor. I think is flawed
thinking I think people need to enjoy their life through their life so that
they have no regrets at any given point back to the opportunity for the young.
Right now I have two children that I’m responsible for
about, I’ve got a home mortgage, I have all kinds of responsibilities in my
life. So I have to be careful as a forty-year-old, what sort of risks I take
because I have to make sure that I’m able to pay my bills and meet my
obligations and those obligations are important. We’re talking about my kids.
An eighteen-year-old likely is not going to have a mortgage, they’re not going
to have children and maybe they’re still able to live in their parent’s
basement for example and if they haven’t gone to college or university and go
on a huge amount of student loan debt, they also don’t have the burden of debt,
so in my opinion one of these people should definitely get into business. Get
into a business will learn through doing and you know what with the lack of
wisdom and experience at a young person has in all like hood the business will
fail and that’s okay.
That’s how people learn you know when you’re learning to
walk you keep falling down as a child and eventually get it right and I think
that the point in a person’s life where you can most afford to fail and have
the failure will mean the fewest repercussions for you is when you are that
young adults. 18 years old you can get out there do something crazy, get in
over your head in a lot of different ways, fail and learn some tremendous
lessons and the advantage of course is that in failing at that young age or
even succeeding you’re going to learn how to get into business and if it’s a
successful business will be a little leverage, the efforts of other people,
employees. Grown a business, learn how to manage a business. And that’s going
to set the person up not for a comfortable retirement in 45 years. It’s going
to set them out for an exciting active life of business ownership and with that
hopefully increased earning in the ability to enjoy life to its fullest throughout
the course of Life. Taking holidays, vacations, owning you know different
property, having an RV, all that kind of stuff is all fruit from the labor of
getting into business and taking the risk so Sandra that’s my advice for
someone who’s young like 18 years old is not to be cautious in any respect but
you get into business and learn by doing and just knowing that whatever happens
there’s going to be a tremendous amount of information gathered, a tremendous
amount of knowledge and wisdom and that even if it doesn’t work it’s ok anyway.
If you disagree or if you have another idea, please share in the comments below
and if you are older in life and you’re not ready to take on some risks because
of the responsibilities you have and you want to get into business, not through
starting one up and experimenting but you want a sure thing and you want to buy
a mature successful profitable business then you should be checking out my
online course BusinessBuyerAdvantage.com where it’s actually a full day over
nine hours of video tutorials and a workbook on how to go out and find the
process of how to purchase ad analyze and price a business that you can buy.
Anyway thanks and we’ll join you next time! You made it to the end of the video that’s great. Don’t
forget visit www.InvestLocalBook.com. Sign
up for my email list it’s right down here under the welcome video thanks and
we’ll see you next time.
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