Out here everyone wants quick money like overnight 100% returns, but that is very rare and very hard to get. Even though you found that perfect coin which will give you 1000% returns what is the guarantee that it will not give negative returns. I am not saying that we should not do risky trades but it again depends on consistency, if you are consistent and gives enough time to it you will eventually get great benefit as time progresses.
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In the financial market, people give you an analogy about the compounding thing, which means if you have 1 cent today and it gets doubled every day you will be a millionaire in a months time. Why they give this example is because when we do small savings consistently which gets compounded for long periods of time can be a wonder. From the last 1 year, my Share portfolio rose to 50%, now if I continuously get that many returns every year then wealth created at the end of 5 to 7 years or even 10 years is huge.
This is what compounding does to our money, when we understand compounding and its effect on wealth creation that is where the magic happens. It's not about getting overnight rich, it's all about maintaining that returns for the longest period of time to get the wealth you always wanted. Again good returns matter, but getting excellent returns once or two years in 10 years is not better than getting above-average returns for almost the entire duration of your wealth. This average return for a longer duration will lead to the phenomena; returns.
That's why if you see almost every other investor things about investing early. But even though we have missed that time, the other best time is to start today. So if you have not started saving till today then it's good to start today and do investments regularly even if it's in a small amount.
If we take the example of Splinterlands, if people who have started investing in the game from the start and was investing regularly, some of them have become millionaires because they were investing slowly but steadily. Similarly, if we increase the savings rate from 5 to 10%, the effect is minimal initially but over time the results are overwhelming. The good thing about investing is that you can start small and thus over time it will become substantial. Investing is always a long term endeavour, the mindset should not be that I double the money in 3-5 years but it should be to grow the money over time.
Start early, be disciplined/consistent and give enough time for your investment to grow, that should be the mantra of each and every investor out there.
