My Investment Procrastination
I’ve been investing since around 2017, not directly, just using a managed portfolio (like an ETF) and in the 3+ years, I’ve not once increased my investment amount, even when my salary went up — why is that?
Well that’s the question I’m answering today, and I hope it helps others.
TLDR; It’s too much work.
Creating an Investment account or updating an investment account or rather any account at most financial institutions is a hassle.
They want all the documents, proof of address, ID’s, References and so on. That means every time you want to get started, there are these barriers (however small) in your way, on top of that, during these times, you may still have to physically go somewhere to complete the process, depending on the institutions.
Those little hindrances, alongside the ridiculously long sign up forms, the research on what company is best to go with, what various accounts they offer and the strong urge to procrastinate, does not lead to a good result.
That’s exactly the trap I fell in — too much mumbo jumbo that I saw as a hassle and would have to really read into, just to get them to take my money and invest it for me — never mind the research necessary to invest myself.
In hindsight, it was not my best decision to not invest further — said every person who delayed investing ever.
The downsides — I lost the opportunity for that extra compound interest and growth by a few years.
The upsides — I can now use that loss as a reference to remind myself to not delay action when opportunity presents itself.
So act today! and act fast! Get that compound interest!
Even if it’s just $10 a month, get it!