One of the most difficult aspects of investing is developing perspective and associating each investment with an appropriate time frame. Many investors, especially those who are young, are captivated by the charts of meteoric stocks where they could have potentially made two hundred percent in a few months. Wouldn’t it be great if those situations always worked out the way we wanted them to? The sad truth is that playing that game ends up as a net loss for 95% of investors. If it were easy, everyone would be a millionaire by now.
The real secret to wealth is simple…steady, consistent accumulation of savings over ten or twenty years while properly managing existing funds to maximize growth. Regardless of what your eventual monetary goal is, it will take time and dedication to achieve it.
My goal isn’t to turn this dividend portfolio into a money making machine over the course of two or three years. My target is much, much further out. At the time of writing I am currently 24 years old. My ultimate goal is to create a retirement safety net by the time I am 50, approximately 26 years from now. It’s hard to fathom preparing for a date so far in the future. But…preparation now, consistency throughout and safety later is the motto I live my life by. Everything I do today is to build for a better future tomorrow.