12 Oct Overcoming The Fear of Investing Money
“I want to invest in property, but I’m scared.”
We hear this a lot at Belouis Investment Group, and it’s an entirely understandable, in fact almost sensible reaction. You gain access to hundreds of thousands of dollars only to put that money in a single investment? When you look at it as a simple transaction, it just doesn’t make sense…of course, there is much more to it than that.
When people come to us and tell us they are scared of purchasing an investment property, we don’t try and console them with facts and figures – by that stage, they probably already have plenty of those. Instead, we remind them of two things –
- Anything worth doing is a bit scary.
- In any fearful environment, there are always two fears. The fear of doing something, and the fear of not doing something.
We ask them to consider their situation in five or ten years time, and to ask their future selves the following questions –
– If you didn’t invest, do you regret it?
– If you did invest, do you wish you hadn’t?
Of course, the obvious answer to the second question is that there is never any regret if money was made, but that’s not the point. All of us have a comfort zone, but it’s not permanent. Your comfort zone works like a rubber band, if you stretch it – like, stretch it right out – it will become bigger, and won’t ever go back to the way it was.
Just like the rubber band, when we try something new it is uncomfortable; it has to be, it’s new. But if we can stretch ourselves then we evolve into something else, someone who now sees the new experience that would have scared them in the past as being less scary. And like the rubber band, that person can never go back to who they were.
In the end we all have to make our own choices, both with regards to taking risks and investing in property. Of course, at Belouis, we have seen the other side and as a result are passionate about the industry, but in the end, you have to decide if in 10 years time, will you wish you had acted now?