1. Starting Early Minimizes Mistakes
Practice makes perfect. For me, starting early was great because I literally didn’t know anything about investing. I had to do my research on everything, including which brokerage to open an account with. There were things I had to do without knowing what the outcome would be. But by starting early, I was able to break any kinks or any bad habits that a new investor can form such as compulsive buying or quick panicking. Starting early, with a small amount of cash, builds confidence to invest more and more cash in the future.
2. Be Prepared To Snatch A Great Opportunity
This point goes hand in hand with starting early to minimize mistakes. By becoming a seasoned investor, you are much more likely to seize a great opportunity when it is presented to you. You will be confident enough to know it’s a great opportunity, and you will understand the risks and benefits, rather than being timid and unsure or worried about the possible outcomes.
3. Investing Early Pushes and Drives You To Success
“If you're trying to achieve, there will be roadblocks. I've had them; everybody has had them. But obstacles don't have to stop you. If you run into a wall, don't turn around and give up. Figure out how to climb it, go through it, or work around it.” – Michael Jordan
Not every investment will be perfect or turn out how you expected. Sometimes, investments can turn out to be a disaster. But starting early will allow you to overcome small obstacles in your path to success, and will prime and prepare you for large obstacles in the future.
What do you guys think? Do you have any advice on building confidence while investing? Leave your ideas in the comments!