If you are about to make a big financial change, it’s okay to take the time you need to get comfortable with your decision. Collect information. Educate yourself. Talk to other people who have experience with similar types of investments.
Learn everything you can in a reasonable amount of time – and then make your decision. And once you do, it’s important to act – even in a small way. Action creates confidence and gives you the opportunity to continue your learning through experience.
Without action, all of the time and effort you just spent doing research will go to waste. By acting quickly, you can begin to benefit as soon as possible from your decision. Once you’ve done your homework on an investment, unnecessary delays can cost you money!
It’s especially expensive to delay implementation of high-return investments. To see just how expensive, let’s look at a quick example. Imagine that you have $100,000 to invest, and that you expect a particular opportunity to yield a 1% monthly return. If you delay your decision even by one month – that delay would cost you $100,000 x 1% = $1000 in missed returns! A two month delay would cost you $2000, a three month delay $3000 and so on.
However, if you take action, you can transform your time, education, and money into real financial returns – $1000/month in our example above. Making smart investing decisions and then implementing them as quickly as possible is the path to real wealth!