Ok so this is a bit of a catch 22… and I obviously don’t want you to go and invest the money that’s in your emergency fund on this PowerCourse… but if you don’t know what an emergency fund is, if you are in debt, if your money isn’t working for you while you’re sleeping, then you can’t afford not investing in this. This is totally a catch 22. You want to make money, in order to make money, you have to invest money, right? But at the end of the day, it really comes down to priorities and what you’re spending money on right now, that is NOT an investment, that once you spend it, it’s just gone, like buying that new pair of pants you don’t really need. And there’s this study about the power of delayed gratification, it’s called The Marshmallow Experiment, where they brought a bunch of kids in a private room and put some marshmallows in front of them and said they’re gonna leave the room. If the kids did not eat the marshmallow while he was away, then they would be rewarded with a second marshmallow. However, if the child decided to eat the first one before the researcher came back, then they would not get a second marshmallow. And they filmed those kids, and followed them throughout their lives years later, The researchers followed each child for more than 40 years and over and over again, the group who waited patiently for the second marshmallow succeed in whatever capacity they were measuring. In other words, this series of experiments proved that the ability to delay gratification was critical for success in life.
And if you look around, you’ll see this playing out everywhere…
If you delay the gratification of watching television and get your homework done now, then you’ll learn more and get better grades.
If you delay the gratification of buying desserts and chips at the store, then you’ll eat healthier when you get home.
If you delay the gratification of finishing your workout early and put in a few more reps, then you’ll be stronger.
And if you delay the gratification of being a consumer, and instead, becoming an investor, at the end you’ll end up with a ton more money that can help you and your family. So you guys, sometimes when you delay eating that marshmallow right away, you’re gonna get 2 marshmallow, youre gonna get 5 marshmallows. You’re gonna be able to give marshmallows to your family and friends so they can eat marshmallows … you see what I’m saying? So I really want you to at least own up to this. Do you really not have the money to invest in your future? Or are you making the first marshmallow your priority, that is not going to give you anything back in return…. You’re making the decision that you’re going to invest in a BUNCH of stuff in your house that you’ll never use at all, right?
Because, guys, whether you know it or not, you’re constantly making decisions. Some of them are probably bad decisions because you’re on auto-pilor and you’re not even aware of them, but you are. Like this is so powerful, like you HAVE a morning ritual. It’s like to do nothing intentional, but you have it. It’s to snooze. You have an money strategy: it’s to waste it on things that aren’t investments and won’t give you anything back in return… and GOSH… you know what’s the WORSE thing you can waste your money on? Ugh… it makes me sick and I’ve seen it way too often, when people email me and say, Gosh, I wish I hadn’t started investing before I had your course because I ended up LOSING all that money.
The worst thing you can put your money in is in an investment account, without having a clue about the markets and just wishing to win big.
I see this all the time, people get super excited when they hear a success story and they go and put all their savings in one investment without know a single thing about its risk, about their own risk tolerance, their financial plan, etc…. Just to lose all of it.
It’s so heart breaking and it really makes me sad.
If you’re thinking that you’re gonna go and do this on trial and error… I’m telling you, it’s probably not worth it. The stuff I’ve put for you here, are what I wish I had when I got started. All the fees I paid to the money managers and the mutual funds who locked my money down, and didn’t even give it the best return, all the money I lost because I didn’t know what I was doing and I was listening to all the gurus on Bloomberg and FOX business and CNBC… you guys, you can not afford NOT to invest in this.