40 Years with a Whistle: Life Lessons from the Field of Play

by Dan John

This section, “On Investing,” will remain true for a long time. Sir John Templeton said it better than I can. When asked about investing money, he gave two words of practical advice: “Do it.” Now, having said that, there will be questions that will arise: first, why am I telling an eighth grader to invest? Well, any money you invest early in your life will have that wonderful gift called “time” to earn more and more and more for you...without you doing a thing. The second reason is simple: You must always look long term in life. Invest in stocks, unless you really know something about another field. Use mutual funds for stock investing...I don’t mind full-time people keeping an eye on my money. I simply don’t have the time or skill to invest full-time. If you know real estate, buy land. But, remember how hard it is to unload land, gold, jewels or antiques when the market drops. Never invest in things that eat. Never invest in stuff you don’t understand. Never invest in someone or something who calls you on the telephone. Never invest in something or someone who promises “easy money.” Easy money is the road to no money. Don’t fall for it. The best investment would be “you.” Get all the education and skills and degrees and diplomas you can get early as you can get them. The next big investment would be your spouse...yes, it is an investment. Don’t make a bad investment by choosing a bad spouse. The biggest investment you may ever make is having children. But, that is another...