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My favorite mentor, inspiration and friend wrote to me, and said:
Hi Bobet
I met a 25-year-old woman yesterday who said she has P100,000 in her bank account. I told her to transfer the money now into the stock market—and add P3000 every month.
And by the time she hits 60, I told her (after calculating in my trusty phone), “You’ll have a cool P22 million—if you grew by a conservative 12 percent a year.”
(Note: But if she followed our TrulyRichClub’s Strategic Averaging Method,
I’m betting she won’t just get 12 percent—she’ll get more. Even if she just improves her average growth to 14 percent a year, her money won’t be P22 million, it’ll become P38 million. But this is another article.)
I was all excited talking about her future retirement money, but she interrupted me and said, “Bo, what if I don’t add P3000 a month?”
“Huh?” I looked at her quizzically.
She continued, “I’m not sure I can. There are so many things I want to buy. So what if I just invest my P100,000 now—and not add anything to it anymore?
I’m sure that will amount to something, right?”
I computed it in my phone and showed it to her.
“Instead of P22 million, you’ll have P5.2 Million. Only.”
Her face dropped. “Oh. Okay, I’ll add every month.”
Wise girl. I hope you’re wise too. Investing one time-big time is what you call the Buy & Hold strategy. It’s good but it’s not great.
You need the regular monthly investing to make the growth humongous.
Happy investing in 2015!
May your dreams come true,
Bo Sanchez
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