The most difficult…

Somewhere in the video below, one line especially caught my attention. The billionaire (majority) owner of the Philippine’s largest online stockbroker, Edward Lee, who was being interviewed by FQMom Rose Fres Fausto, said this:  the most difficult is making your first million! (I’m not sure I quoted him right, go just watch the video below to validate). Therefore, the next millions are easier!

Powerful insight, right? But here’s what I have just realized. When you don’t have that much money yet (at least a million), the most difficult even is to finally start investing!

That’s my experience. It took years for me to finally open my own investing account. And a few more years for me, with the consent of my kids, to open two separate accounts for each of my #2daughters.

In my hope to find a magic pill to overcome this inertia and encourage more parents and kids to jump start investing ASAP, I sent some questions (luckily featured in 6:30 minute of the video below) when  the FQMom shared she got an opportunity to interview Mr. Lee who has over four decades of investing experience. 

Did I finally find the magic pill? Watch this insightful episode to answer my question.

Watch: FQ Live! Episode 10: Myopic loss Aversion (sourced from YouTube, FQMom’s page, and Philippine Star article)

[How crazy can we get? We put more weight on pain over gain and we prefer sure wins; yet we cross the street directly facing the huge “Nakamamatay” warning sign, we bet on lotto tickets despite the 5M probability of winning. More explanation in the article and video from the FQMom]
 
 

Postscript 1/3: To the FQMom and FQSon Enrique(an investor himself since birth together with his 2 brothers) and their team: Thank you for repairing the lost portions of the answers to my questions!

Postscript 2/3: Including also here the playlist of FQ Live! (Link not yet available; to follow)

Postscript 3/3: For everyone interested: You can experience an easier way to invest!  Why not get the guidance of Trulyrichclub that receives mentorship from Mr Lee himself?