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Why is it important to invest and why is it important to start now? For the answers we suggest that you read Robert T. Kiyosaki's Rich Dad, Poor Dad, as it will help explain that you can never earn enough money working for someone else to become financially independent. Even many sports and entertainment stars that make huge amounts of money wind up broke. That's because you must use you money to make money to become financially independent. And you must be responsible for your own financial decisions. Getting good advice is fine but you must ultimately have the final say. Why invest? Take the following two quizzes and you'll see why.
a) under $1,000 b) $12,254.96 c) $114,488.12 d) $764,912.42 e) more than two million dollars
The Answer
Investor "A" went to college got a good job and from the age 26 on invested $2,000 every year until age sixty-five.
Investor "B" got a job after graduating high school and invested $2,000 a year from age nineteen to twenty-five but was never able to invest any more.
Investor "C" worked during high school and was able to invest $2,000 a year from the age of fourteen to eighteen but unable to invest any more.
Investor "D" was industrious as a youth and invested $500 at age eight, $750 at nine, $1,000 at ten, $1,250 at eleven, $1,500 at twelve and $1,750 at thirteen and the never invested again.
All investments earned 10% tax-free and all profits were reinvested.
They all just turned sixty-six, so who is the millionaire?
a) Investor "A" b) Investor "B" c) Investor "C" d) Investor "D" e) all of them f) none of them
