I remember when I was a kid, my grandmother bought one of those ab trainer belts from a TV infomercial. You know the belt that sends an electric shock to your abs causing them to contract (like you’re doing a sit-up)? I put the ab trainer on and watched TV for an hour. The next day, I didn’t have six pack abs. As a matter of fact, my abs weren’t even sore. Crazy? Not really!
Today, as I scroll through my Facebook feed, I see many advertisements titled “Get rich quick!” or “Lose weight today!” In the world in which we live, everyone wants results instantly. Whether it’s losing weight or building wealth. Everyone wants to have it NOW!
Instant Gratification is the enemy!
We can’t help it. As humans it’s natural to want things. The problem is once this desire is fulfilled, it doesn’t last long. This gratification is short lived before we are wanting something else.
I hate to burst your bubble. But you can’t lose 10 lbs. overnight. (I’m talking about real weight. Not water weight to any wrestlers/MMA fighters reading this.) And you cannot build a 1 million dollar portfolio overnight either.
If it were easy, everyone would do it! Good things take effort!
There are proven ways to improve our health and finances.
The problem is they take time.
When we put a little money aside and look at our portfolio and it doesn’t move very much, we get discouraged. Most quit.
When we start exercising and eating healthy, but don’t see results in a week or two, many get discouraged and quit. STOP IT!
Again, good things take time!
What are a few ways to combat the urge to quit investing?
1. Set smaller, attainable goals within your bigger goals.
One of my goals is to accumulate a 1 million dollar net worth. I know it will take years/decades of my investments compounding before I am anywhere close to this goal.
Hitting the smaller goals will be great proof that your hard work and dedication is paying off.
I do this by submitting monthly dividend and net worth updates. This is a great way to keep track of my finances and it paints a real picture proving to me that my persistence is working.
2. Practice delayed gratification.
Have you ever wanted something so badly, then you get it and it’s not that great? Practice some self control! Learn the difference between needs and wants. Most people spend money buying something because they “deserve it.” Well how about save some money because your future self “deserves it?”
3. Stop comparing yourself to others.
You are your own worst enemy. It is unfair to compare yourself to other people because everyone is in a different situation. Some people have big salaries. Some people have been working for 30 years. Some people have five kids. Whatever it is, the only person you should compare yourself to is the you of the past.
4. Understand you are in it for the long haul.
Lastly, I think this is important to understand before you start investing. If you are putting money into the stock market with a one month to one year timeline – you’re wrong! Investing in stocks is a proven method to make money over a long period of time. Decades! So, if you’re getting your feelings hurt because you’re not making money right away or you get depressed because you buy a stock and the price drops, you may be in the wrong business, because investing is hard!
When you want to succeed, as bad as you want to breathe, then you’ll be successful. – Eric Thomas
I would like to thank everyone who reached out and let me know you were getting blocked from commenting on my posts. The issue has finally been resolved. Sorry for the inconvenience!
