I have a small investment as part of my life insurance.
I've been paying into this thing since I was 18. I'm now 51. The investment has accrued enough money that I can live off the proceeds when I retire for about 2 years.
If i had put the money i invested and the money i paid in as fees into the bank and left it, I could retire now and live comfortably for the rest of my life!
My advice is unless you have money to burn, don't invest in the markets, invest in yourself. Invest in your dreams, your passions, your visions. Don't wait for someday. Don't scrimp and save for years only to find the person you trusted has stolen all that you have and run off to the Bahamas.
Find a way that you can earn income without getting out of bed. i.e. you don't have to go to work to get an income. Invest in that, grow that and enjoy the process of doing it.
If it fails, try something else. If it works, then you're all set.
Steemit is one of those places where, with any luck, we can all realize that dream.
That's why i'm investing heavily in me - and writing posts on here, because this is my ticket to a comfortable retirement. If it doesn't work, all it has cost me is time and effort. but I have already been rewarded for that time and effort by the interactions with my new friends here.
So no matter what happens, I can't really lose.
If you have been listening to your financial advisor for years and throwing good money after bad, and you're still doing it, then why not try something different next year?
You can still keep paying your financial advisor to have a nice holiday, but you can focus one year of your life to being creative, and engaging with other creative people. Dare to dream that you can be the architect of your own success.
Give yourself a year to make it happen, get it started. Then come back in a year and see just how far you've come. Your success or failure will be all down to you, your effort, your input, and perhaps a little luck.
And that's a lot more reliable than playing the money markets. And a lot more fun. Playing the money markets you are focused on the end game - the one big payout.
This strategy is focused on the journey, on you. Instead of dreaming about the life you will have once your ship comes in, you live your life now.
Disclaimer:
I'm not a financial advisor, and I've been broke but happy for most of my life.
That's about to change. I can see where Steemit is going. I'm n board at the right time, with the right talents, and enough spare time to really commit and get involved.
The planets are aligning, a perfect storm is brewing, and i'm going to be right at the centre of it.
Care to join me?
Hi there - i am in the same boat. Against the wishes of many advisors i purchased whole insurance policies and it was the best thing i ever did. I learnt how to trade effectively and i left my rotten boss and now i trade for a living. I now teach people how to do it. If i had listened to the people who "know more than me" i would still be waking up every morning hating my boss.
I really enjoyed your reply. thanks for taking the time to write back.
No worries.
I've also followed you now.
I thought I already had, but i have corrected that oversight.
As for working 9-5 for a boss you don't like in a job you hate - I've only done that a couple of times. (I've had many, many jobs)
Now I am self employed, working as a contractor developing web apps. I resisted doing this (being self employed) most of my life, and only did it because I was forced into it about 8 years ago.
It has not always been easy, but i am in a really good space now. I contract to an awesome company with possibly the best boss I've ever worked for. The people are lovey, the work is fun and interesting.
The hours are what I chose them to be.
This now puts me in a position where i have enough income to pay the bills, and enough free time to follow my dream of becoming a writer.
And just when all this is falling into place, Steemit comes along. Exactly what I need, exactly when I need it.
That's why I am so passionate about what is happening here, and why i encourage people to follow their dreams. You may not end up as rich as the big investors, but you will have a life that you enjoyed. and when it all ends, what's more important?
A pile of cash that you didn't spend, or a life filled with fun laughter and fulfillment?
I am definitely on your side there. I notice you are from New Zealand - awesome rugby. Lifes dream is watch the ABs play at Eden Park. I am a big fan of rugby.
maybe one day...