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“I Have No Time to Invest”

When it comes to investing, there are folks who are afraid of making a monetary loss, and there are folks who are do not have enough capital to get started. Then, there are also folks who are not able to find time to invest, or in their own words: “I have no time to invest”

To offer a suggestion to counter this time constraint, I would like to share a little story from Warren Buffett. In this case, Buffett was speaking of his long-time right hand man, Charlie Munger.

Sell Yourself an Hour

“Charlie, as a very young lawyer, was probably getting $20 an hour. He thought to himself, ‘Who’s my most valuable client?’ And he decided it was himself.

So he decided to sell himself an hour each day. He did it early in the morning, working on these construction projects and real estate deals. Everybody should do this, be the client, and then work for other people, too, and sell yourself an hour a day.”

— Warren Buffett on Charlie Munger

You see, Munger decided early on in his life that he wanted to spend an hour each day working for his most important client – himself. It’s a simple suggestion that I believe can work for everyone else.

An hour a day for yourself

If you find reading a whole book on investing to be daunting, then try reading one chapter a day. Alternatively, you can also read about the investing lessons and learnings which we share here at Fool.sg.

(For example, to get a better grasp at valuation, you can start from this article that I wrote the other day.)

If there is a company that you are interested in learning about, try picking up its annual report and cover 10 pages a day. Here’s a guide on reading an annual report, using ComfortDelgro Corporation Limited’s (SGX: C52) publication as an example, to help you along.

If you like the restaurant industry, then use that hour to have a meal at the restaurant of your interest and try to figure out where it stands in the food industry. Or, you can pick up a book on great restaurant companies and learn how they found success.

Additionally, you can also seek out experienced friends who may offer insight into a specific industry’s challenges and opportunities.

Foolish summary

The key here is consistency in learning.

If you are willing to put aside an hour a day for yourself, your knowledge on investing will start to build and compound, just like how long-term investing works. You may even soon start to gain confidence to dip your toe into the investing waters.

So, give yourself a chance and an hour a day. Your future self may thank you for that decision.

To learn more about Foolish long-term investing and Warren Buffett, sign up for a FREE subscription to The Motley Fool's weekly investing newsletter, Take Stock SingaporeAlso, like us on Facebook to follow our latest hot articles.

The Motley Fool's purpose is to help the world invest, better.

The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Chin Hui Leong doesn’t own shares in any companies mentioned.