It is commonly said that procrastination is the thief of time. This statement is very true in all areas of life particularly with respect to saving and investing. This is because the longer one invests, the higher the turnover that is expected.
In the book MULTIPLE STREAMS OF INCOME, which i am still discussing, Robert Allen shows how dangerous and unprofitable it is to procrastinate on our investment goal. He made the following statements which i found very amusing:
"Let me show you the terrible cost of procrastination. Suppose you had the discipline to soak away $200 a month over a 20-year period of time with a target interest rate of 20%, how much could you accumulate? According to my calculator, $200 a month at 20% for 20 years grows into $632,000. Not bad. Now suppose instead of starting this year, you wait a year to get started. This leaves you only 19 years of growth instead of 20 years. According to my calculator, you would have only $516,000 in your account in 20 years. That is $116,000 less than you could have had if you had started on schedule. In other words, your procrastination cost you $116,000 in future dollars."
This statement is very easy to understand, therefore i warn all my readers against procrstination. Let your motto be DO IT NOW. Get a copy of this important book here and learn all you need to know to succeed financially.
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