Just. Start. Dude.

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Quote

"One of my goals next year is to not lose all my money in the market." - Douglas Boneparth

Just. Start. Dude.

Today's piece is going to touch on the power of firsts. Whether it's hitting the gym, starting a business, or investing that initial dollar, "firsts" can be intimidating.

For example, walking into the gym for the first time. How does this leg extension machine work, do I look awkward squatting, why is the beef head grunting every time he curls 70lbs? Taking the plunge and starting that business can also be full of unknowns. Do I hire more people, will my customers return, how the heck do I market on TikTok?!

This feeling of stepping into the unknown is challenging, but it can be the spark that leads to successes you never thought were possible.

This theory of "firsts" also rings true in the stock market. Especially if you are young, getting that first dollar invested has the potential to result in a seven-figure difference in net worth at retirement.

Check out this wealth multiplier chart from The Money Guy Podcast that shows the power of $1 depending on when it is invested. To illustrate, every dollar a 35-year-old invests can be multiplied by 12.69. For a 25-year-old, that multiple increases to 44.04.

So to determine how much a $500 investment could turn into for a 25-year-old.

$500 x 44.04 = *checks math = $22,020

Assumes a lifetime rate of return of 10% decreasing by 0.1% each year. Results in a 5.5% annual return by 65.

It is easy to see the impact of getting that first dollar invested. You can download this table for yourself here.

So whether it's as simple as opening a brokerage, or as daunting as running a marathon, here is your sign to not put it off any longer.

As a good friend of mine once told me, just start dude.

Conclusion

See how many firsts you can accomplish in the next 365 days. And while you are doing that...

Help the person investing the first dollar.

Help the person founding their first business.

Help the person hitting the gym for the first time.

Getting started is the hardest part.

See you in 2023! It's going to be a great year, Cade.

Cade's Finds

How JEPI Pays Such A Large Dividend - Youtube video discussing how the ETF JEPI manages to pay such a high dividend and what risks it carries.

Holiday Money Mistakes - Podcast discussing the 4 biggest money mistakes people make during the holidays and how to avoid them.

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Nothing in this email is intended to serve as financial advice. Do your own research. Thanks for reading, if you have any questions, comments, suggestions, etc. about the email send me a DM on twitter. See you soon!