Every investor need their magic number. What is a magic number? Read this post and you will fully understand what a magic number is and how to get one?
Real-life struggles are happening to many because of the pandemic. The pandemic has impacted people’s health, income, experiences, and education.
I am sorry you are facing difficult times, and I am sorry that I am facing difficult times. The fact and truth remain “better days are coming.”
Personally, this pandemic has impacted me immensely. Many of my relatives have died because of Covid-19. I have been limited in visiting my 83 and 84-year-old parents. On top of that, my family’s income decreased.
Yep, you guessed, and life continued to march forward, and more struggles arrived. As a mother, a wife, daughter, entrepreneur, and believer, life has been difficult living through a pandemic. What happens when finances change and money is not flowing like it once did? What do you do? How can you invest?
As life continues through this pandemic, we needed a new roof, fixed a sewage problem, and needed a new fence. On top of that, I have had some health challenges that took more money out of our pocket. As our savings began to dwindle, that thought to sell our investments crossed my mind for a split second, and reality set in quickly.
Our investments are for the long-term, and selling them will not benefit us in the long term. So, as we continue to look at our depleted savings, I smile because I am thankful for having a home, a family who loves me, cars to drive, money in the bank (no matter how small), a thriving business, and investments. Why am I telling you my business?
Because I want you to know that sometimes financially, things get tight, and no matter how tight it may be or how broke you may be – do not sell your investments to fix a temporary problem.
I will say that again for the people in the BACK. Do not sell your investments to fix a temporary problem.
Investing is a long-term journey, and no matter the highs and lows this pandemic may bring, please do not sell your investments. Focus on the long-term, and you will build generational wealth.
How do you that? Do not look at investments as money you have. Always look at it as money that doesn’t belong to you until 2033 or 2057 or 2078 whatever your year is.
Pick a year where you want to be financially stable or reach a significant financial goal. It should be a minimum of 10 years. You pick that magic year for you and your family, and please stick with it.
My magic year is 2033. What is your magic year?