One of the things Admiral Raven speaks about in his commencement speech is about making his bed every morning. This was one of his defining moments to creating change in the world.
We can use this as an easy first step to start an investment plan. Many people believe starting a retirement plan is difficult and complicated. The best way to start any plan is to do something easy. My advice is to enroll in your 401k at work. This simple task can be the start of a savings plan. It is like making your bed every morning. By saving a little from each paycheck your effort at work can have a positive reward. Similarly to if you accomplish nothing else, in a single day…at least you accomplished making your bed.
If you do not have access to a 401k, start investing in an IRA or other savings plan. Make it easy by automatically deducting a contribution from your primary bank account or paycheck. If you start an automatic plan you may be less likely to stop. In a few months when you review your statement and realized that you can save, it is more likely you will increase your savings than lower your savings.
Finally, don’t sweat when you hear the headlines about how tough the world is today. Our country has been through two world wars and four other wars. A President was assassinated and another was shot. We survived two market crashes, a depression and a financial crisis. We have had Republican and Democratic Presidents and Congresses and each time as a country we have come through stronger. Those investors that stay the course may change their lives for the better.
So how do you change your world? Start by making your bed, start investing even if it is a little at a time; by doing these two things each day when you come home you may have a nice bed to fall into and a little more money in your pocket.
Link to Admiral William H Raven, ninth commander of U.S. Special Operations Command University of Texas commencement speech: https://www.youtube.com/watch?v=pxBQLFLei70
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John H. Heil, Senior Financial Blogger
