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Can Investing Make You a Millionaire Overnight? Phil Town breaks down some misconceptions about investing.

By Phil Town

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

In this video, Entrepreneur Network partner Phil Town describes the difference between the expectations and the realities of investing. Town explains that many financial advisors often do not have a personal interest in how well their clients' investments perform.

Town notes that one of the best strategies you can adopt when investing is to be patient. Patience is a key investor trait, one that is more integral to successful investing than natural intelligence.

In order to make your best investing decisions for real life, Town lists a few misplaced expectations surrounding investing.

  1. Investing will make you rich overnight. Though investing can make you rich, you must be patient. Overnight successes, Town says, make for terrific stories but are extremely rare. Effective investing will not make you a millionaire overnight, but it can make you a millionaire by the time you retire.
  2. Companies on sale will only go up in price. This is a false statement since, as Town explains, the prices of stocks are always fluctuating and come off as unpredictable in the short-term. More likely, if a company is truly great, it will just eventually meet it's true value.
  3. Investing will let you quit working. Again, many people often equate investing with getting rich overnight, followed by an easy retirement. Even those people who find success in investing typically continue to work.

Click the video to hear more.

Related: Adopt These Smart Money Habits When Stock Prices Skyrocket

Entrepreneur Network is a premium video network providing entertainment, ewitducation and inspiration from successful entrepreneurs and thought leaders. We provide expertise and opportunities to accelerate brand growth and effectively monetize video and audio content distributed across all digital platforms for the business genre.

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Phil Town is an Investment Advisor, Hedge Fund Manager, 2x New York Times Best-Selling Author of Rule #1 & Payback Time, and Ex-Grand Canyon River Rafting Guide. Rule #1 Investing is Warren Buffett style investing, teaching you how to buy businesses on sale, with little risk and 15 percent returns. In fact, Rule #1 investing is practically immune to the ups and downs of the stock market.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

More from Phil Town

How to Find a Stock On Sale That's Right for You

3 Bad Investing Habits You Should Drop Before It's Too Late

Nervous About Investing? Think About Your Money This Way.

How to React When a Recession Is Approaching

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