How To Be a Great Investor Takes Just One Key Skill

How to be a great investor orientates itself in one core skill. You either do this or you do not. There is no in between.

One of the best pieces of advice you would have heard from your parents and others many times over during your growing up years was “pay yourself first”. Unfortunately, you may not have heeded this advice straight away or at all. For many years I certainly did not!

But this principle of paying yourself first really is the starting point and the cornerstone of all serious investors as generally there are no savings if you do not put some money away each time you are paid.

Now some people are great at budgeting but many are not. So the easiest way to start saving is to have a payment from your wage into an automatic bank account.

The idea, in a nutshell, is that you make saving your top priority. Before spending money on anything else, you take care of yourself by socking away money in a tax-deferred personal investment account.

The gains you made in week 1 will be re-invested and they will earn more money themselves in week 2 and so on, and that money itself will earn more money in week 3 and so on… And this just grows into what you call wealth.

Imagine generations upon generations of your money earning for you. And it all starts when you honor yourself enough to ensure that no matter what happens, you keep at least 10% of what you earn every week! You pay yourself first.

Now, the question is...

Are you saving and investing at least 10% of your income every week in high-return investment vehicles earning at least 10% - 40% compound interest annually?

If you answered no, then it will be very difficult to become wealthy.

If you answered yes, if you are indeed paying yourself first and investing that in high-returns investments, you are on the right way.

So what practical steps can you introduce to ensure you make a start?

Step 1: Set up an automatic deduction from your wage to a bank account and make it difficult to get this money out! 10% of your gross wage is a good guideline.

How to be a great investor now seems easy when you implement this 1 key critical life skill of saving 10% (or a portion of your wage or income you feel comfortable with) and putting it away automatically into a savings account or an appreciating investment vehicle.

How to be a great investor and to set up your family's future is now in your hands!

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