Are you committed? Committed to being a fairly wealthy, highly successful investor? Then this habit is for you. Because I believe you can reach your “promiseland.” I believe you can live your dreams. But can you keep them? Because investing is a lifelong, multi-generational endeavor.
Imagine how you’ll feel when you have enough to retire and no longer worry about where your income will come from. I wish I could say it happens the minute you retire. But when the paychecks stop, a new anxiety begins.
Having guided hundreds of investors through their retirement lives, my happiest clients are pretty much the same. They decided a long time ago they didn’t want the angst, worry, uncertainty, and the work (a different work than their career) that comes with managing their own money. We all have opinions on other people’s money, but with ours, that’s serious business, right?
For the happy investor, when we talk, yes we talk about the markets, but we also talk about your lives. This week, for example, one client said, “I’m in my happy place working in my woodshop on the lathe.” Another said he’s tying flies thinking about fishing. Another explained a philosophical discussion he’s having with a friend. Another told me he’s been playing some of the best golf in a while. Another is helping his parents move (that’s not exactly happy, but you get the point).
Then there’s the unhappy investor. Never finding his promiseland. This guy has a list of problems “you wouldn’t believe Survival Guy,” he tells me. How he’s been double-crossed, owes money, doesn’t have enough, tells me how markets really work. I know in 17-seconds that’s not my type of client. Sorry. That’s a promiseland I can’t help you find. I’m Your Survival Guy, not a punching bag.
Everyone knows life is about balance. The same is true about investing. Yet, time and time again, investors tell me they don’t like bonds, they don’t understand bonds, and they have too much in the stock market. Hello?
Even in retirement, when you reach your promiseland, you reach a place with a new set of challenges. And that’s OK. Because you and I know there is no such thing as a finish line. Let’s get to work.
Action Line: If you need help shepherding your herd, I’m here.
Read about all of the Top 10 Investing Habits of the Fairly Wealthy here.
Originally posted on Your Survival Guy.
