How does a complete beginner start investing?

If you’ve never really thought about investing or if you thought that it’s just for people who are investors, with the rising cost of living and the fear around money, then it’s time to start thinking about your future if you haven’t already.

Paul’s tip is to start investing and make some progress. Your stress level drops when you take that money stress off. Most importantly, when something goes wrong, you’re going to be okay. Certainly, a good feeling to have.

Listen to the full episode here.

In this Episode:

• How does a complete beginner can get started in investing
• The secret to building wealth
• Paul’s opinion on Crypto currency
• Where to start with building passive income
• The dollar cost averaging
• Why is developing wealth too slow and boring for most people
• The difference between trading and investing
• Giving your kids an unfair advantage in life

Important Quotes:

“You have to have a longer term mindset. Every time I chase a short term result, it always backfires. You have to invest in your health, you have to invest in your finances, your mindset, your family.”

“There are three phases that we have to go through to get passive income. First one is to get started with good habits and starting your investment accounts. Second phase is to accumulate funds. Third phase is acquisition phase where you start acquiring assets that pay passively.”

“Everything goes in cycles. There’s ups, there’s down. But if you’re just always investing, investing in good companies, or investing in proper asset allocation, it just makes it so much easier to do.”

“Once you start, you start getting those habits just like working out. Once you’re working out, you start feeling better. So just get started. Treat it like your fitness. Just make that commitment.”

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