Long-Term Consistency Beats Short-Term Intensity
Success is not just about capital appreciation but maturity appreciation as well.
Almost every day, there are new social media group chats about investment and money management being created but only few of them last for more than six months. People are energetic with their light bulb ideas, but how to sustain that enthusiasm is the real challenge. Every month I do a financial literacy seminar for more than 50 participants. But following the path of these people after the whole day event will clearly tell you that only few of them have real endurance in wanting to be successful. We love to start things all the time but we rarely “finish” them. Bruce Lee, the famous martial artist, and movie star once said, “Long-term consistency beats short-term intensity.”
One OFW seminar attendee approached me after my talk. She was elated by the topics she heard from my seminar to the point she even cried while she was talking to me. “Sir Chris I feel so stupid about doing all those money mistakes I committed. I know it was wrong, but I can’t understand myself I still do it. But now I promise myself that I will follow all the learnings I got from you and religiously invest for my future,” she said.
So, I asked her, “How about if you go back to your old habits? What will happen then?” The woman simply replied that she will just do it all over again.
This is how financially successful people make a difference. They stay committed even when they are bored, lonely, unmotivated, or even fearful of what is happening in the market. If you ask them what keeps them going when the going is tough, they will simply say that everything is on the other fence of boredom, hard work, and struggle. Their level of success is directly proportional to their willingness to endure challenges.
Financial success comes after when you experience market recession, crash, or worse even scam. Success is not just about capital appreciation but maturity appreciation as well. Maturity in the market comes when you know you are signing a new opportunity that will yield not just a short-term return but something that will add up to your value. It’s easy to take action to a popular stock and investment scheme. Everyone can produce some sort of action towards a goal. People do it all the time. But the right action, one that is based on a well-designed but boring financial plan, is rare.
Capt. Christopher G. Cervantes is a registered financial planner of RFP Philippines. He is a seafarer for more than 15 years and author of the best-selling book Financial Planning for the Fast Changing World.
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