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<p>[QUOTE="mikem2000, post: 1721032, member: 30574"]Ok, I actually disagree with this, but I fully understand that I am one of the few people who thinks this way, but lets see if I convince anyone anyway. Now convention wisdom and "normal" financial thinking would state you should pay off you credit cards, and get other things in order first. It is logical since if you are paying 18% on you revolving credit, why would you want to try to invest in something that may pay you, lets say 8% if you are successful. </p><p><br /></p><p>Well, my way of thinking is a bit different. I look at investing as the most important skill set you will ever learn in your life. Like I said, it needs to be learned, it is not something that comes easily or naturally, our school system does a poor job in this area, and parents in most cases are not that helpful either. I think of the "negative early returns" sort of like a tuition. We gladly pay to go to college to learn a skill set, right? </p><p><br /></p><p>Investing is something that is best learned hands on. When you actually have skin in the game, you will certainly be more focused. It is my opinion that young folks should start as early as possible with small amounts of capital. If you lose some cash, so be it, a lesson well worth it. The earlier you start learning the better, this way as you income increases, and you have larger amounts of capital to put to work, to will have already "paid your tuition" and your chances of success will be much higher. JMHO Any thoughts ???</p><p><br /></p><p>So to try to tie this in and keep it on topic, even if the OP has other things to "take care of" it still may be wise to think about a way to invest his 8 Benji's[/QUOTE]</p><p><br /></p>
[QUOTE="mikem2000, post: 1721032, member: 30574"]Ok, I actually disagree with this, but I fully understand that I am one of the few people who thinks this way, but lets see if I convince anyone anyway. Now convention wisdom and "normal" financial thinking would state you should pay off you credit cards, and get other things in order first. It is logical since if you are paying 18% on you revolving credit, why would you want to try to invest in something that may pay you, lets say 8% if you are successful. Well, my way of thinking is a bit different. I look at investing as the most important skill set you will ever learn in your life. Like I said, it needs to be learned, it is not something that comes easily or naturally, our school system does a poor job in this area, and parents in most cases are not that helpful either. I think of the "negative early returns" sort of like a tuition. We gladly pay to go to college to learn a skill set, right? Investing is something that is best learned hands on. When you actually have skin in the game, you will certainly be more focused. It is my opinion that young folks should start as early as possible with small amounts of capital. If you lose some cash, so be it, a lesson well worth it. The earlier you start learning the better, this way as you income increases, and you have larger amounts of capital to put to work, to will have already "paid your tuition" and your chances of success will be much higher. JMHO Any thoughts ??? So to try to tie this in and keep it on topic, even if the OP has other things to "take care of" it still may be wise to think about a way to invest his 8 Benji's[/QUOTE]
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