I wanted to write more about convincing family members because I felt it was very important for aspiring investors to realize how important this step really is. Don’t promise big returns. Just tell the truth and I am sure they will be very understanding.
People often do not realize how helpful the family can be in getting started in the investing game. That is actually how most investors started like Raymond Dalio, for example. It is your family that will believe in you when no one else does.
I know we have all had those experiences when we walk up to our parents, for instance, and ask for a shoe or mobile phone and they turn us down. We then just simply give up and walk away and try to do it on our own. I guess that is human nature. Trying to do everything on your own and not asking for help or what we fear others would term a handout.