[2 - minute reading]
📰 Every so often you open up the newspaper or see an article online about a janitor, seamstress or shoe cobbler who retires at the age of 59 and it turns out that they are a millionaire.
💰The question always comes up “How did somebody with such a low income turn out to be a millionaire?”
The answer usually goes something like this.
🎁 They automatically invested small amounts of money in a savings account and were not embarrassed to go to a stock broker and invest small amounts.
💫 Over time those investments grew and they became more savvy but kept on working while letting their money grow and work for them.
⛵️ These people were “staking success”, that is building one small success on another.
🧠In fact, there is new research to show that this is a scientifically proven way of creating success.
👁Small wins are so important psychologically. You see, we have these things in our brain called dopamine receptors.
These receptors are responsible for making us feel good. Not only that, dopamine receptors have a huge effect on motivation and focus.
But here’s the thing...we can lose dopamine receptors easily.
Specifically, when we fail at something significant like business...dopamine receptors die off.
👧 When they die off, you get less ambitious and focused. But the key upside is small wins will make your brain and body feel good and you can keep stacking success.
But there’s good news.
Dopamine receptors can grow back.
👑 You grow more dopamine receptors whenever you experience success. And when you grow more dopamine receptors…
🌈 You get more focused and motivated, stacking success upon success. So the question is where to invest small amounts, depending upon what country you live in there are:
- different stocks
- savings bonds that you an use.
Other typical ones you can invest in, are your employer’s retirement plan and dividend reinvestment plans (DRIPS).
👩💻Remember, even with small interest rates and small investments you can make a profit which you can then flip into a LARGER one later.
⏰ In the 21st century we also have “disrupter” investment opportunities like peer-to-peer lending and angel investment groups which do not require a large investment up front but can pay off quite nicely.
✡️At the beginning of this article we talked about those “surprise millionaires”, a lot of whom ended up giving their money to poor people, schools or some other worthy cause. If that is your goal, GREAT.
🏝If not and your goal is to be still young when you retire and travel around the world sitting on beaches that’s great, too.
🏆The thing to remember is that you can and should start investing small amounts NOW so that you can be ready to invest large amounts later on.
🎂Start with an automatic savings account or one of the ideas above and your future WILL be a whole lot brighter.
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