Don't Fall Victim of These 3 Investing Excuses
The list of excuses when it comes to not investing are endless, especially for busy young professionals immersed in their careers. Everything from it is too complicated and too risky to I don't have the time and money etc. However, the irony of each excuse is that the biggest risk actually lies in not saving and investing at all, especially early on in life.
Investing is seen by many as an arduous task,one that is complicated, risky and best left to other people.
It is often easier to avoid investing altogether, than confront it head on.A natural human reaction is to create excuses that rationalize why one has chosen to avoid an activity.
As a young adult you have the upper hand when it comes to investing because time is on your side, but only when you take advantage of it. As it turns out, there are several common excuses that everyone makes, but they fall into three broad categories.
Excuse #1: I don't have enough money to invest.
Money is important in investing in Real Estate. However, you do not have to have a sizeable deposit sitting in your account, or a big bank balance before you begin to climb the property ladder. In reality, property investors are often regular, everyday Nigerians that have cultivated the discipline of saving and investing.
Here's our motto: "Pay yourself first." That means on payday, you set aside some of the income first towards your investing goals. (Even better if you automate those savings.) If you pay all your other bills and wait to invest with whatever money is left over, you'll pay yourself last or not at all. Investing even 1% of your income is better than nothing.
Excuse #2 - "It is too far"
The most popularly used sentence in real estate investing especially by the middle class is; It is too Far.
Research have shown that 65% of investors have missed great investment opportunities just by allowing this same myth consume them. Distance is only a test of how far you can travel in your mind. 15 years ago if you were told to invest in Lekki or VGC you probably wont.
Today you will be delighted to own a land or a house in Lekki, VGC, Ikeja etc.
The question really is not how far a property is from you, No, rather it is how far the property is from development, from infrastructure, from the government interest, from investors and from accessibility.
Today you can decide to give yourself a second chance by investing in the new Lekki.
You have missed the Ikeja's, the Lekki's, the VGC's, the Ikoyi's etc. Don't miss the Ibeju lekki, the Agbara's, the Mowe's, the Ikorodu's etc Start with what you have and invest today
Excuse #3 - "It is too Risky"
There's no sugarcoating the fact that investing comes with some measure of risk. But simply because something is risky does not mean we shouldn't attempt it all together, especially when the risk of not investing can be far riskier over the long-term.
Excuses ranges from
I don't want to lose my hard-earned money."
I'm afraid of Omonile and something going wrong."
Everyone knows that the economy is about to crash
While investing in real estate can be risky, it can be managed in a way that keeps it from being too risky. Young investors with a low risk tolerance can select more conservative portfolios, invest within an estate, invest with a credible company and invest in properties with titles. Investors with a higher tolerance for risk can enter more aggressive positions with higher reward investment portfolio.
One way of overcoming the fear of risk is to Educate yourself and be honest with yourself about how much involvement you want personally. You can self-direct all your investments, but you can also seek advice where you need to. Talk to a Real Estate Consultant today to make your real estate investment easy and hassle free.
culled from realboss