Why Long-Term Investing Will Create The Future You Deserve
Black Enterprise Magazine January-March 2019 Issue

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such vehicles, they can invest with as little as $100 a month. Most mutual fund companies offer automatic withdrawal programs to further simplify this process. For novice investors, dollar cost averaging–investing equal dollar amounts at regular intervals over specific periods–is a great way to get their feet wet.

Gaining the funds necessary to make such an investment entails a measure of sacrifice, though. My suggestion: write down all the money you spend within a week. I bet you’ll find that you identify considerable savings if you do a few simple things such as avoid impulse shopping and credit card usage; trim your premium cable package; and brown-bag your lunch. One of the overriding philosophies of our Wealth for Life program is that you pay yourself first. To adopt that simple but fundamental principle, you have to budget for it. While I’ve directed these strategies to BE Nexters, these steps are just as effective for those of you who may be a bit longer in the tooth.

It’s true that times are tough–and the economy may continue to be sluggish for quite some time. Don’t sacrifice your future, however, by taking short-sighted action. Despite periods of volatility, the financial markets will continue to offer the returns you need to reach your long-range financial goals. Through disciplined and patient investing, you can direct your future instead of letting the future direct you.

Earl “Butch” Graves Jr. is the president and CEO of Black Enterprise

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