Way back in ’66, when a pair of iconic singer-songwriters crooned that we should slow down (you know, because we’re moving too fast), little did the groovy duo know that they were onto something big.
Spurred by the start of the Slow Food movement in the mid-‘80s, the Slow Movement is a campaign advocating that people should chill out, ease up and enjoy life a bit more. And now that life’s more frenetic and harried than ever, the Slow Movement has crossed cultural lines with spin-offs like Slow Cities, Slow Living, Slow Travel, Slow Design – and yes, Slow Capital.
Slow capital? Who wants their money to grow slow? We should want our money to grow fast and furious, right? Mmmm, not really.
The notion of slow capital is that just like the trusty old tortoise taught us, slow and steady wins the race. It’s the antithesis of get rich quick. It’s get rich smart.
In a climate where people find themselves buried in consumer debt because of willy-nilly spending, and investors have lost big bucks by chasing the next big thing, never before has creating long-terms goals been more crucial. Socking money away in a 401(k) or Individual Retirement Account (IRA) may not give you a rush of excitement, but 30 years of compound interest can sure make retirement fun. Having just $25 a week automatically transferred into your savings account might not make you giddy, but the $6,500 you’ll have in 5 years just might.
Growing your money slowly may not give you the heart-pounding rush you can get from making a quick buck, but it lets you think less about how to make more money now now now and instead gives you the freedom (and time) to concentrate on the things that really matter: family, friends and the ability to pursue your unique brand of happiness.
What are your thoughts, Saver? Are you more like the hare, willing to take a big risk for a big payoff, or the tortoise, willing to forgo the opportunity to make a killing for the security of knowing you’ll never get killed?