You and I know retirement income is hard to come by today—it’s what the weather is. You and I also know we can’t do much about the weather. But we can invest in all types of weather.
One of your key components to successful investing in any weather is harnessing the power of time or, in other words, compounding. The only way to do that successfully is to treat your money with the respect it deserves. You need to protect it. You never want to lose it. You never want your money saying, “I get no respect!” like Rodney Dangerfield.
You must respect your money and understand how hard it is to make more of it today. You need to understand how wrong it is to treat money like a worthless commodity. Even in a “money for nothing” world, you can’t afford to lose it by taking risks on growth ideas or income schemes.
However tempting it may be to venture out on a limb, it’s crucial to protect what you have. Because earning a little bit on something still leaves you with something. Losing it on a “sounds good on paper” idea could leave you with nothing else but a sheet of paper. Remember, landing the Triple Lindy is hard.
Originally posted on Your Survival Guy.
