Investing is a marathon.
Embrace patience, train hard, pace yourself physically, emotionally, and if you expect to finish the race on your terms, you have to have a plan.
It may seem simple to run a marathon, putting one foot in front of the other. The same can be said for investing too. Pick a stock, click a button, that’s all it takes — or so you may believe.
But we know it takes more to be successful. It’s your ability to push further and challenge your emotional competence.
There are no guarantees of investing success. You may never reach your goals.
Of course, you can concede by never investing. But that’s not why you’re here today. We’re here to push forward, push ahead.
Get the right Advisor
I don’t know of any successful pro or amateur athletes who didn’t have a coach or mentor.
The athletes that come to mind: Michael Jordan, Tiger Woods, Jordan Spieth and LeBron James, to name a few, all had coaches.
Could any of these players get to their maximum potential without a coach? Guys like John Wooden, a UCLA basketball coach bringing in 10 NCAA titles in a 12-year span, Dan Gable leading his teams to win 16 NCAA titles in wrestling, and Dean Smith for Basketball at The University of North Carolina.
I point out these phenomenal athletes because they went farther with a coach and mentor.
How do you know that these players went farther? Because these coaches did it repeatedly. It’s true; it takes two to tango.
If you don’t have a commitment on both sides, it’s hard to succeed. Hence, the reason I said you should find the right advisor.
Strength of the Relationship
It’s not about becoming a Michael Jordan or John Wooden; it’s about the power of the relationship in doing something you can’t do on your own.
There is a certain simplicity to the sports these athletes and coaches compete in; yet they have proven how small changes such as drive, mental focus, and most of all, relationship building, have allowed them to reach their goals.
Image how the results would have panned out if the coaches didn’t mesh with their athletes?
Focus on the Plan
Investing shouldn’t be hard, but the focus and psychological challenges can be.
You might be able to swing a golf club well enough to move the ball, but you probably won’t win the Masters. And you can invest, but it’s not necessarily a measure of how successful you will become.
While you might be able to move forward, in any case, an advisor may be able to help you go farther.
Warren Buffet had Benjamin Graham as a teacher and mentor and is one of the richest and most successful investors ever. With the right guidance, you may go farther too.
You need to figure out how to keep your mental focus so you can improve your financial life. It’s about finding the right fit; the right relationship between you and your financial advisor so you can achieve your financial goals successfully.