Quote:
Originally Posted by mustang2porsche
Being in college as no affect on my finances as tuition exemption and all other scholarships/grants are more than enough..
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All the more reason NOT to put money into a Porsche or BMW or Merc or an Audi.
My point is not that you are in college and dealing with education expenses. Not at all. It is a very different point, that you have a
huge luxury that most will never see:
the investor self-made millionaire 'two-for". What is that? Simple. 1) being in a position to be able to accept a higher level of investment risk because you are young, and 2) having the cold cash to act on it. You have both of these at your disposal now.
Large fortunes have been thrown out, never to be reclaimed, because those who could have taken advantage of both these things chose not to. The biggest mistake we make in educating young people today is that we do not teach people what can be done with money as
investment. They only learn what it can do as
consumption. And the next biggest mistake, and equally criminal, is that we allow young people to think that they need a large pile of money to begin the process of turning it into a mountain of money. Quiet the opposite, even if later in life you came by hefty sums of money, you could only replicate what you could have had as a young investor if you achieved an usually unattainable level of performance in your investments. Financially speaking, time is by far the most valuable asset you have now.
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