Making investing easier, more fun for young Pinoys in the age of memes
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Investing may be an overwhelming topic for young people. We were told to study hard, get a job, help our parents and maybe, just maybe … build our dream home. Is investing really so much fun and easier for the younger generations? Here are some tips on how you can start investing early so that you, too, can achieve financial freedom earlier than expected.
1. Do it NOW
They say you can beat procrastination by reducing the gap between thoughts and actions. If you want to start learning about the stock market, do it now. Open a brokerage account right away. I am one of the lucky few ones who was exposed to the stock market early, when I was nine, because my dad had discussed it with me. During my sophomore year in college, I wanted to make my own money. I tried several gigs and businesses. Some failed and some produced so-so results. I was not good at sales at that time. That was when I remembered my stock market lessons from my dad.
But where should I start? I remembered the word “broker” as mentioned by my dad when I was a kid. I searched on the internet for the list of legitimate brokers and visited them the very next day. That way too, you can beat analysis paralysis since I did not think of what if I didn’t know: how to read charts, financial statements, etc. Do it NOW and solve your future problems later.
2. Use time blocks
I understand that hitting scholastic deadlines and studying investing at the same time could be tough. That is why I want to share one of my secret ingredients for high productivity. I always make sure there was time, as well as deadline, for my school activities and there was time for learning stuff in the financial market. There was also time for me to play and relax. In today’s generation, it is noisier than ever. Those beeping notifications, popping messages and newly released movies that need your attention can eat so much time without you realizing it. When was the last time that you worked on a task for one to two hours straight without facing these distractions? If you want to get things done, block your time out.
3. Master one financial market
I have seen a lot of people jump from one financial instrument into another without mastering any single one. They are what we call a shiny object chaser. Whenever they hear that one of their friends is making tons of money in the crypto market, they will abandon what they are currently doing and plunge into crypto investing right away. And when things don’t work out as expected, they will try stocks and then jump into foreign exchange trading to being insurance agent and real estate investor and so on. Have you seen people who are doing great in the stock market and those who failed? Do you know some who succeeded in milk tea business and some who failed? It is not the market or the business. It is the person who is doing it. First, analyze yourself and use your strengths to commit to a single idea. After you have mastered that one idea, only then should you explore another thing.
4. Set daily goals
You can use this strategy and it is almost applicable anywhere—from your income goals, short-term activities and even long-term plans. For example, if you want to finish a 300-page book in a month, divide 300 pages by 30 days and you will have a goal of reading 10 pages a day. If you are targeting a P1-million portfolio by the end of the year, divide it by 12 months and you know you need to make P83,333 pesos every month or P2,688 pesos every day. If you have a numerical goal in your mind, you will be forced to ask yourself, “is this activity helping me to hit my P2,688 pesos (daily) goal?” If not, what are the things under my control that can help me to achieve those targets? With this strategy, you do not have any excuse to wait for the year-end to know whether you are hitting your goals or not. You have the power to know it right at the end of the day.
5. Do your very best
Whenever I am into something, I always make sure that I do my very best. It is my guiding principle that I have used for the past 10 years and it has never failed me. Although it may not work out on the first try, that is your ultimate reason, not an excuse, to do a better job. Maybe you need to change or adjust your process but never your ultimate goal—to be financially secure at a young age.
