Guest Post: Now is the Time to Think Long-Term
I've got a guest post up at Get Rich Slowly on why now — when interest rates are very low — is the time to think long-term.
About twenty-five years ago (as an example of long-term thinking), I had a whimsical investment idea: Buy some cheap land and plant hardwood trees. The trees wouldn't be ready to harvest for 100 years or so, but it would have been a cheap investment with (eventually) a fairly large payoff.
It takes a certain perspective to make such a long-term investment. I call it a whimsical idea because I'd never have been able to enjoy the financial return. I was already in my mid-20s at the time. Even if I'd selected the hardwoods for quick maturity, they wouldn't have been ready until I was well into my 90s.
Check out Why Now is the Time to Think Long-Term over at Get Rich Slowly.