The world of investing has been undergoing a major overhaul in the last few years, making it easier for more and more people to get into the markets, build wealth, and take control of their financial futures. With innovations in technology, the rise of low-cost brokerage platforms, and an ever-growing range of investment options, opportunities that were once reserved for the elite are now accessible to anyone willing to learn and take action.
But it doesn’t feel like it when I talk to some people, including family and friends, who are not only clueless about investing in general but even dismiss it.
Lack of Patience
First is the big issue of being impatient and associating the concept of investing with needing a lot of time to see its fruits. And while it is true that investing does need time, they mistakenly think they will only be able to enjoy their money at retirement. This is far from true. In fact, the very reason for sacrificing and saving and investing in your younger years is so that you cut your retirement age to a much younger age and an early start to a work-free life. I have one particular family friend who often dismiss any talk about investing or financial literally in general with one of his trademark dismissive lines: “oh that is not enough…” in reference to what he will get in return for a specific investment etc. Ironically enough, given the many times he has said this over the years, his noteworth has not only barely changed, things have stayed the same or even gone backward as he continues to search for that elusive get-rich quick opportunity that never seems to come. Geez, I wonder why? Or maybe, he should have started investing a few years ago, by now he would have a solid base to build on.
Jargon Galore
Despite things getting easier and technology simplifying investing, I find that many people get confused and scared away by all the acronyms and industry jargon out there: ETFs, REITs, DRIPs, ROIs—a seemingly endless stream of terms that make investing feel intimidating rather than empowering. My attempts to advise them to ignore the noise and just focus on a simple process, like putting their funds into an ETF, often backfire. They’ll ask me what an ETF is, and while they may understand the concept, they struggle to see how it can actually build wealth or make them rich. Argh!
Comfort Zone
Some people have been managing their money in a certain way for years—even decades—and feel comfortable sticking to it, no matter how unconventional it may be. For example, many cling to the belief that investing is too risky and that they could lose everything. While it’s true there are no absolute guarantees in investing, there is also a very high probability—close to 99%—that your money will not only be safe but grow at an average rate of 5–7% over time. It’s this compounding growth that creates real wealth. Convincing someone to step out of a long-established comfort zone is extremely difficult, especially if they are not personally motivated to educate themselves about investing.
Investing doesn’t have to be complicated or intimidating. The key is to start early, be consistent, and focus on simple strategies that allow your money to grow over time. Forget the jargon, ignore the get-rich-quick schemes, and don’t let fear or comfort zones hold you back. With patience, education, and action, anyone can take control of their financial future and build lasting wealth. Otherwise, things can’t be made more simple than this. Well even if it does, these people will probably still resist.
I guess this answers the age-old question: “If it’s this simple, why don’t more people do it?” When it comes to money and finances, the answer usually isn’t that it’s complicated—it’s that fear, impatience, jargon, and comfort zones hold people back. The steps to building wealth are simple, but taking action consistently and overcoming these mental barriers is what separates those who succeed from those who stay stuck.