Whether you have been investing for years or are just starting your journey out of the Rat Race, every investor needs direction and motivation. There are 5 key secrets that will help every investor get better leverage and invest wisely. These key secrets have been understood and followed for years by the rich, from the active day trader to budding entrepreneur to the seasoned real estate investor.
Seek to understand how each secret applies in your investing career and do not be quick to dismiss one as under or over your head. The most important aspect of each secret is that you are accountable to actually putting them into practice.
These secrets are tried and true. Learn to apply them and you will accomplish more than you would have otherwise.
Secret # 5 – Be Confident and Humble
Albert Einstein defined insanity as continuing to do the same thing over and over again and expect different results. Adapted to the world of investing, if you continue to invest how you have always invested, you will continue to get the same returns you have always earned. By itself, that is not a bad thing. It is comforting to know a certain type of investment can yield you a predictable and steady rate of return. However, in order to take your investing to the next level, you need to make investments that stretch you beyond your comfort zone. It is in these moments that you need to believe in your abilities and take stock honestly of what you know how to do and what you need to learn. Take time to reflect on your progress up to this point.
Confidence comes from remembering and acknowledging your past success.
As you inventory your progress from where you started to where you are now, you will quickly realize that the next level of investing is not an exclusive club; but the next chapter in your investing story. Realize you do not have to have all the answers before you begin, but you do need to take the first step.
To keep your confidence in check, be sure to inventory accurately your contributions to your success. Anyone can make money in an “up” market and sometimes people begin to think too highly of their skills when it was nothing more than the walking into the right circumstances.
Before the real estate bubble burst, plenty of people who did not know what they were doing made money hand over fist in booming markets. The bankruptcy courts are now littered with people who became too self-assured and began taking bigger and bigger risks that they were not equipped to handle—all because of a false sense of confidence.
This is not to say that you cannot or should not run with the big dogs. On the contrary, your dreams and plans should be as big as you can make them. But be sure you are the reason for your success. Luck will have something to do with it from time to time; but most luck is manufactured from skill, understanding, desire, hard work, and seeking out the right help. Learn to temper confidence with humility and you will be able to find and execute the right investments for you at the right stage of your investing career.
The Bottom Line
As we said before, the newest investor all the way up to the most experienced one can use these 5 Secrets. The reason why is because each secret contains a principle—or truth— that governs success. Investing principles are timeless. They work in up or down markets. They operate whether you are aware of them or not, and they do not care where you are from and how much—or how little—you know. Learn to master them and apply them in your investing and you will find greater degrees of success than you would without.
Speaker, Motivator, real estate Investor
Empowering Strategic Investment
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