The writer of Ecclesiastes goes to great lengths to describe God’s reasoning that for every thing there is a season. A time to be born, and a time to die. A time to plant, and a time to pluck up that which has been sowed. Too many of us pass over these verses as trite summations of something that everyone already knows. Well, we may know it but do we practice it when it comes to long term investing?
Exactly when is the time for long term investing? â€œSoonerâ€ rather than â€œlaterâ€ is a good answer. So is â€œsometimeâ€ rather than â€œnever.â€ Best of all would be to start in early adulthood and set in motion a conservative, yet lucrative strategy that will continue to pay dividends into future generations. The time for long term investing is NOW, no matter your age and, unless we miss our guess, you’re not getting any younger.
The Solomon Success choice for creating the kind of scrupulous wealth you’ve spent your life dreaming about is income property. This is when you own a single family home and rent it out. A property that produces income â€“ hence the term. From biblical times straight through to modern day life, land ownership has been the path to financial security. For this particular â€œthing,â€ the season seems to never end.
Better still, real estate ownership allows you to cut out the Wall Street middleman and keep more money in your pocket. No broker necessary. No administrative or transaction fees. Control stays in your hands like it should. In fact, Jason Hartman’s 3rd Commandment for Successful investing is to â€œmaintain direct control of your investments.â€
We think the season for long term investing is now.
The Solomon Success Team
Flickr / Andrew Stawarz
Tags: long term investing