How To Get Started: Simplify, simplify

[Michael Carbonare]

Henry David Thoreau, one of my favorite authors, went to the woods to live, in his word, deliberately. He lived at Walden Pond for 26 months, a journey of self reliance and spiritual awakening. “Simplify, simplify”, one of the many quotes attributed to Thoreau, is solid advice for the struggling new investors who I have spoken with. The issue it seems, is too much info, too readily available. As a new investor you cannot be a master, an expert of every investing strategy you’ve looked at through hours of YouTube videos, Instagram and TikTok nonsense. You’re neck deep in Paralysis of Analysis, a virus more debilitating than the Spanish flu, Bubonic Plague, and the latest virus du jour, Covid.

I’m no different than you. . .well, I’m Italian, so I’m a better cook and I have three Uncle Tony’s who collect my rents. But I digress. . .

I wanted to know everything before I did anything. The result? I did nothing for 3 years. There was always another book to read or seminar to attend in my search for the secret sauce. Then a wise man who was already successful doing what I wanted to be doing shared some common sense that I took to heart: settle on ONE strategy to get started and block out all the other noise, the BS, and the well intentioned but misinformed friends and relatives telling you that you can’t do this. They are really saying THEY can’t do this. This simplifying approach slowed things down and in so doing sped up my progress. So if you find yourself standing in the same place as yesterday, as last month, dare I say the same place as last year, heed the wise words of Thoreau, “Simplify, simplify”.