Again I would like to discuss the problems we have as a nation and a world. Police continue to be killed in the name of revenge. Or is it a revolution? Terrorist continue to make cowardly attacks on innocent people. There continues to be political scandal after scandal.
The ‘people’ are demanding change. C
hange in methods. Change in leaders. Change is distribution of wealth.
What these ’people’ don’t talk about is changing themselves. Becoming accountable for their own actions. Change the person we push blame on. Whether it be the government, or our employer(s), or our family, or even Wall Street. We need to push the blame on ourselves.
Maybe what we really need is to begin to believe in ourselves. Perhaps a little confidence would do wonders. Before we can accomplish anything, wealth or success. We must believe that it is possible. We must stop doubting ourselves.
Of course this does not mean there will be no setbacks. There is no clear path to any worthwhile goal.
Many investors believe there is a way to earn stock market returns with Treasury bill risk. What most end up with is Treasury bill returns with stock market risk.
Successful investors find an investment philosophy that they believe in. And they stick with it. There is no strategy that will always earn the ’best’ returns. Successful investing will always involve risk. Which means at times your portfolio will be down.
Remember no one can tell you whether the next 20% move will be up or down. But I will tell you the next 100% move will be up.
Successful investors also realize that without professional help they will allow their emotions to make investment decisions. This means that sticking with a strategy requires discipline. Discipline that an investor coach/fiduciary adviser provides.
Remaining disciplined sometimes means you will look ‘stupid’ or you don’t know what you are doing. Or the most used phrase ‘it’s different this time’.
Over the long term remaining disciplined to your strategy will lead to success.
You will have many advisers approaching you with the ‘hot’ strategy or product. Keep in mind these ‘advisers’ are nothing more than salespeople, pushing the right buttons.
So stop blaming someone or something else when things do not go your way. Many times it is the result of you losing your focus on the long term. Many times it is the result of you not being disciplined during market extremes.
As I go through life I hear the older generation saying that they would not want to be starting over. They do not understand how the younger generation will survive. However every older generation says the same thing. And we continue on. This pattern has been going on for generations.
What people don’t realize is that change is constant. The only thing that doesn’t change is that things change.
Stop stressing about short term investment results and find an investor coach/fiduciary adviser. Someone that will be there for you in both up and down markets.
Stop pushing blame and take responsibility for your actions.
Remember unsuccessful investors are focused on short term results while successful investors are focused on the long term. Which are you?