Dire Cost of Procrastination

Take a look at this chart of the Stock Market's NASDAQ Index (performance of over 2,600 companies, mostly technology or high tech companies, e.g., Amazon, Google, Facebook, Netflix, Apple, Alibaba, etc.).

The other stock market indexes, like the Dow and S&P, look very similar for this 10-year period.  As an example of monetizing this chart, if you invested $10,000 in the NASDAQ ETF or similar index mutual funds 10 years ago, it would be worth approximately $47,000 today, a 470%.  Some of our readers regularly put money away into your IRA, 401k, or other defined retirement plans.  If those monies were invested in an index or mutual fund, good job!  Your initial balance (not including your subsequent contributions) in the beginning of 2010 may have grown 350-470% as of January 2020.  This was during the COVID-19 pandemic?  Yes, and not only did the stock markets recover from the initial downturn (crash) last Spring, it bounced right back during the Summer and continued upward, marking all-time highs through February 2021.

Based on this growth illustration, if you did nothing, your buying power today is much less than $10,000; to be precise, it is $8,372, based on the average national inflation rate.  This is one example of the measurable cost of procrastination.  Click on this link Cost of Procrastination for more information.  Even worse, there is the cost of opportunity loss (cost for not taking action).  For example, not investing $10,000 in a mutual fund that mirrored the NASDAQ index 10 years ago cost you about $47,000 in potential gains.  Think about 10 years from now.  Do you have discernible and actionable plans for X, Y, or Z?  If so, (1) how will you keep track of your progress; (2) are you prepared and will you make necessary changes along the way to keep on track; and (3) do you confidently see yourself enjoying the fruits of your labor?  If you have affirmative answers to these questions, then you are on track for success.  If not or you would like to speak with a professional, contact TBS.  Nugget of Wisdom: What gets planned and measured gets done.