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After Reading the article below - Give me your Feedback and Opinion - Do you think I have what it takes to be an Author? Is this information Helpful, Useful or Just Hot Air? Your Comments Are Welcome.
20/20: Hindsight - Which I now have being the ripe age of 47. How many of you would like to Speed Up Your Retirement? How many of you would like to know when the next Pit Fall is Coming or What not to do in a certain situation? All of Us would love to know what our "Elders" know and the only thing left to do is Apply It! Which is the tough part - The Personal Discipline to Make it Happen - Do you have what it takes to Apply the Wisdom?
Over 15 years ago ( I was then 32 years old) I use to wake up at 4:30 am - yes - 4:30 am literally five days a week and go to a very small local gym to work out. When I arrived - at approx. 5 am - there were already two other gentlemen there - whom I got to know very well. They were at that time in their mid 50's - grey hair and both were in pretty good shape. One gentleman - Frank - pulled me aside one day and handed me tow pieces of paper - stapled together - and you could tell they had been pushed between the drivers seat of his Mercedes. Frank was a salesman - quick successful I might add - who had been in the retail electronics industry for over 20 years. What Frank told me, over 15 years ago, I should have heeded and not only read the documents he provided - but taken one simple step and taken action as he suggested. Frank told me that at my age of approx. 30 years old - if I were to invest in the Mutual Fund that he provided the information on in the two tattered pages he provided - that I would not have to work when I become his age. Being the Naive Person that I was - too young to think of what was coming - which is Older then Old Age - I just read the documents and then discarded them.
Amazingly enough here I sit almost 20 years later and I still think of Frank and the two minute conversation we had about investing - early and what the definition of compounding interest really means. I can tell you that I was fifteen minutes - which is all it would have taken at that time - to pick up the phone and set up an account. Frank asked me to invest only $500 per month to start and then increase that amount over time - but to never go below or take money out of this investment for at least 20 years. Do you know that the compounded interest on that amount would have been over $1 million dollars to date - only 15 years later!
Not taking Franks advice has been one of - the biggest mistakes of my life!!
If you are 25 to 30 or even younger - and if you read this - Take my advice - and Franks too - Invest in a Mutual Fund or Long Term Investment NOW. Don't wait like I did. There are literally hundreds if not thousands of great long term investment vehicles to pick from. Do it Now! Don't wait - Pick up the phone and make a commitment to yourself, your family and know that sooner thank you think you too will be 47 and wondering where the years have gone. The mutual fund Frank presented to me was a No Load (low to no commissions) fund and paid interest rates - back then of approx. 8%. Most funds today provide a modest 5% or so depending on your propensity to risk. I am personally invested in what is call an ICA - Investment Corporation of America. So far So Good - I just wish I would have invested when I was asked and instructed to do so. You can look up their prospectus on line - you won't believe the numbers - really.
There are many other 20/20's I will post in the coming weeks. I hope this article is helpful and informative. You are welcome to ask any questions on any topic - I will either give you my experience on that topic or my valued opinion.
Stay tuned and God Bless:
Andrew Johnson
20/20: Hindsight - Which I now have being the ripe age of 47. How many of you would like to Speed Up Your Retirement? How many of you would like to know when the next Pit Fall is Coming or What not to do in a certain situation? All of Us would love to know what our "Elders" know and the only thing left to do is Apply It! Which is the tough part - The Personal Discipline to Make it Happen - Do you have what it takes to Apply the Wisdom?
Over 15 years ago ( I was then 32 years old) I use to wake up at 4:30 am - yes - 4:30 am literally five days a week and go to a very small local gym to work out. When I arrived - at approx. 5 am - there were already two other gentlemen there - whom I got to know very well. They were at that time in their mid 50's - grey hair and both were in pretty good shape. One gentleman - Frank - pulled me aside one day and handed me tow pieces of paper - stapled together - and you could tell they had been pushed between the drivers seat of his Mercedes. Frank was a salesman - quick successful I might add - who had been in the retail electronics industry for over 20 years. What Frank told me, over 15 years ago, I should have heeded and not only read the documents he provided - but taken one simple step and taken action as he suggested. Frank told me that at my age of approx. 30 years old - if I were to invest in the Mutual Fund that he provided the information on in the two tattered pages he provided - that I would not have to work when I become his age. Being the Naive Person that I was - too young to think of what was coming - which is Older then Old Age - I just read the documents and then discarded them.
Amazingly enough here I sit almost 20 years later and I still think of Frank and the two minute conversation we had about investing - early and what the definition of compounding interest really means. I can tell you that I was fifteen minutes - which is all it would have taken at that time - to pick up the phone and set up an account. Frank asked me to invest only $500 per month to start and then increase that amount over time - but to never go below or take money out of this investment for at least 20 years. Do you know that the compounded interest on that amount would have been over $1 million dollars to date - only 15 years later!
Not taking Franks advice has been one of - the biggest mistakes of my life!!
If you are 25 to 30 or even younger - and if you read this - Take my advice - and Franks too - Invest in a Mutual Fund or Long Term Investment NOW. Don't wait like I did. There are literally hundreds if not thousands of great long term investment vehicles to pick from. Do it Now! Don't wait - Pick up the phone and make a commitment to yourself, your family and know that sooner thank you think you too will be 47 and wondering where the years have gone. The mutual fund Frank presented to me was a No Load (low to no commissions) fund and paid interest rates - back then of approx. 8%. Most funds today provide a modest 5% or so depending on your propensity to risk. I am personally invested in what is call an ICA - Investment Corporation of America. So far So Good - I just wish I would have invested when I was asked and instructed to do so. You can look up their prospectus on line - you won't believe the numbers - really.
There are many other 20/20's I will post in the coming weeks. I hope this article is helpful and informative. You are welcome to ask any questions on any topic - I will either give you my experience on that topic or my valued opinion.
Stay tuned and God Bless:
Andrew Johnson
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