How much did you accomplish towards your goals this weekend? This last week? 🤔🤷♂️ We all have to pay bills and make money so that we can live daily life. Before we become entrepreneurs we have to work jobs first to pay for things. But while you are working, don't lose sight of the big picture or get comfortable with things. "I'll work on it extra tomorrow" or "I just don't feel like it today" is a slippery slope to be on! 🤥 If you are hitting a wall in your journey, step back and evaluate why and figure out a way to overcome whatever it may be. Where there is a will, there is a way! 💪👍💯
Pretty much every day I hear the same question: should I wait to put my money in the stock market until after the stock market crashes?
First off, absolutely no one knows when the next market crash will be (although some will say they knew after it happens). Second, if you believed all of the times someone predicted a stock market crash you would have sat out on some of the best years of stock market history!
Ok, let’s put this into perspective.
The 1990s had an incredible stock market run, resulting in a new Dow Jones record on December 31, 1999 at 11,497.
Less than 3 full months later the dot com bubble burst and the stock market tanked.
Even with the dot com crash and the recession of 2008, a $10,000 investment made at the record high of 1999 would be worth $35,857 today including dividend reinvestments.
The lesson here is don’t try to time the market!
Make sure that you have a long time horizon and invest and much as you can when you can.
Too many people are worried about the next crash and could be missing out on the possibility of many great years in the stock market.
If you are truly worried about a crash, put a set amount of money into the stock market every month (called dollar-cost averaging) so that if the market does crash you can continue to invest at the bottom.
20 years from now come back to this post and you can thank me!
Have a bada$$ budgeting day.
David - The Budget Teacher