If you’ve played chess before, then you’ll know there’s several different pieces in the game. You have the queen and king, obviously the most important pieces, and then on the other side of the spectrum, you have the pawns.
Pawns can’t do a lot. They have limited movement, and a lot of them get knocked over pretty early. There’s always the chance they could win the game, but that chance is pretty low.
When it comes to investing your money, it’s easy to be a pawn and not a player. It’s amazing how much compounded interest you can earn from investment, but it’s equally upsetting how much of that interest can be negated by fees.
If you don’t know what you’re doing, you’ll probably become a pawn in someone else’s game.
On this Five Minute Friday episode, I revisit a conversation with legendary Tony Robbins who explains the necessity in being knowledgeable, strategic, and intentional when it comes to investing your money.