You’re waiting for ‘the best’ time to invest (Pt 4).

Ever met someone who seems to know everything about a subject?

• They know how the world monetary system works - random

• How cryptocurrencies work

• Why a NZ based NZX company is underperforming

• The best ETF in the world to invest in

• The exact month the stock market will crash based on quantum physics compounded by Uranus’ magnetic pull

• They own no assets but feel the need to tell you 6x per year that you will own nothing and be happy

Weirdly, they know all of this but don’t take any action off of the back of this?

They go to the trouble of gathering all of the data but never do anything with it.

What is that all about?

Recently we looked at a list of reasons people haven’t started investing.

I think the key 3 were:

1. Fear/scared

2. Unsure how

3. Analysis paralysis

Today and finally, we are into part 3.

Analysis paralysis. Ahh the old ‘best platform’, ‘best time to invest’ and ‘best stock’ methodology. Hate to break it to you Tina Turner but ‘the best’ probably doesn’t exist because hindsight will always find a better 'best'.

Also, if that is how you think, I am sure you would all laugh at me if I told you…

• I’ve decided to be unhealthy because I am not sure what the best diet is for me.

• I once decided not to learn to drive because I just wasn't sure what the best car would be for me.

• Next week I am going to cut the internet in my apartment because I am not sure if I am using the best internet provider.

• 4 years ago, I probably should never have started sending out these Money Mail lessons to the now 18,000 people, because I still don’t know what the best email platform is to use…

Bonkers!

Side note - funny how many people seem to work out ‘the best’ Buy Now Pay Later provider to use or the credit card with ‘the best’ rewards.

Alright, let’s stop playing because I think I know what’s going on. Maybe these people are really back at 1. Fear/scared?

And now it’s twice as hard because they have all the info so they think they know better, but end up being even more scared to take action.

Action for these people - I hope that these questions may help you:

• Ask yourself ‘If I had the complete information, what action would I take?’ Now you know your action needed - will you take it?

• Ask yourself ‘If I accepted that it was impossible to have the complete information, would I make a decision?’. If your answer is no here then maybe yeah life is going to be hard!

• Ask yourself ‘What am I ACTUALLY scared of and how long will I let this stop me taking my above action?’

• Ask yourself ‘How real is that fear/thing I am scared of? What data do I have to support that?’

Info is nothing without taking action with it.

So ask yourself what information you need to make a decision?

Then, take some action.

BUT with all investing, don’t take action without knowing what you’re aiming for.

3.3million Kiwi have used KiwiSaver to invest for their first property or their retirement. Both are very clear goals. This makes KiwiSaver simple to understand.

700,000 Sharesies customers have found that platform as their platform of choice so how did they make sense of that and how did they not get stuck at 'the best' platform?

I also think that once we know what we are saving or investing for, it makes it easier.

When our reasons are stronger, our actions become more urgent.

• It might be for a long term goal

• It might be for the kids

• It might be with money you are willing to risk, to assess your options in the future

Many people may be focussed on investing in decreasing debt and that is fine too, but you may want to think about speeding that up to make it more exciting, or what is on the other side of that?

You don’t want to get debt free and end up at 1, 2 or 3. We can always learn in advance.

Finally, don’t overthink this stuff.

Investing involves risk. Of course, it should feel a little scary when unfamiliar, but be sensible and realistic and enjoy the process...You don’t want to be one of those people checking their stock balance each day!.

This has been a fun mini-series to dive a bit deeper into some of the reasons that people don’t invest.

Remember that investing can be both financial and non-financial. You can invest into your mind, health, career, family, relationship and the list goes on.

Investing will teach you about yourself.

Lean into it.

Start small and take consistent action.

Bonus for the student who said they don’t have enough. Invest $1 to learn the doing and the process. No excuses please!

Be bold,

Luke

P.s. You are one of 11,550+ recipients. The KTC podcast had over 65,000 downloads in October. Feel free to share a lesson with someone to help this reach more people. ___________________________________________________________________________

Did you know: The S&P 500 is up over 25% since the start of the year and just hit an all-time high. What will 2025 bring? I don't know but i'll be investing....

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