Myth: Only rich people invest.
Fact: WTF?!?! Do people really think this??
The scary truth is that many people do. “Investing” conjures images of rich fat guys wearing Armani suits, sipping fine brandy and smoking cigars while they sit at the country club, deciding which stocks to buy and sell.
AA readers know better, of course, but you’re the special few. We surround ourselves — online and in person — with like-minded people committed to growing and preserving wealth.
But don’t get complacent — PLENTY of people in this world fall prey to the myth that “investing” is something old rich people do.
The media spoons-feeds us images of miserly rich people who casually buy companies and count their coins while scoffing at the “ordinary people” who work hard. What a bunch of baloney.
If you’re not savvy enough to recognize that this depiction of investors is nothing more than a cartoonish stereotype, you’ll set yourself up for a lot of financial stress and heartache.
Fortunately, you read financial blogs and books. Then you act on what you read. That’s what sets you apart.
Being rich is not a prerequisite to investing. Rich is the result of investing.
I have to thank one of my AA readers for busting through this myth recently.
“I used to think I wasn’t rich enough to invest,” she told me, “until I began reading your blog.”
Dude. EVERYONE is rich enough to invest. Got $20 bucks? You can buy one single share of a Schwab or Vanguard exchange-traded fund. You can make the trade commission-free.
“But that’s just one share!”
It starts with one.