To understand how we are similar to the investment world, we must envision the bright side of our investing factors/attributes:
1. Asset allocation: In the investment world, this term refers to the way we mix our assets by using certificates, stocks, and bonds to achieve whatever financial goal we may have (such as retirement, financial freedom, a healthy lifestyle, etc.). However, if we dig inside of ourselves just a little, we will find all kinds of different assets such as anger, love, motivation, optimism, focus, happiness, ambition, effort, or any emotion that can mold you into someone else or help you do anything you choose to do in life. We have all these internal feelings that we can mix, and we can choose to use them to create a map to where we wish to go or not.
2. Compounding: This is one of the terms that investors love. Unfortunately, in real life, most of us are aware of how compounding is multiplication. Our assets can generate earnings within seconds, minutes, hours, days, weeks, months and years, but we hate the fact that our success grows slowly because we dislike small rewards and incremental progress. It is interesting, though, how our focus energy can either add to our obstacles or lead to a solution. How many of you like the fact that you have to wake up one to three hours early just to invest in yourself? And you know that over time, these hours can add up, resulting in greater success. I can relate to that; I have been successful in leading Marines down the right path. The quicker we realize the truth, the earlier we get to open our eyes.
3. Diversification: This word is defined just like it sounds. Great investors love to diversify their money in different asset classes, such as bonds, annuity, insurance, stocks, etc., to limit financial risk. How does that relate to us? Great question! I was wondering the same thing [laugh]. Now, let us cut to the chase. We love doing multiple tasks at once, and we have the mindset that we will complete them. Many of us are adept at doing so because our investing mind does not let us down unless we relinquish the trait. The risk that we attempt to limit when we take the diversification road is not creating time for ourselves to achieve greater purposes, such as taking care of ourselves in regards to wealth, health, etc. Now, stay with me. We’re getting to the six keys. (I’m dying to get there, too.)
4. Rebalancing: Any time an investor’s risk tolerance has changed, the investor must rebalance his/her her portfolio. At this time, consider yourself a portfolio. You have a lot of assets that your employers, your friends, your families and your acquaintances wish to exploit. What are they? They could be your money, your time, or your attitudes toward certain factors. Have you ever felt that you were a master in one field but a novice in another? When you master a particular subject or sport in one circle, you must move on to another circle that can bring you more challenges. The risk tolerance you had in the prior circle no longer exists, because you are able to control your fears and any internal or external factors you had to deal with in the beginning. Also, if you find yourself performing poorly, you might have to go back to learning the basics. In real life, you tend to hang out with negative people repeatedly tell the same story, and you listen to them every day. But one day, you find that it’s not the same. Your risk tolerance has changed; therefore, you either get rid of that friend or change your environment. We call this rebalancing.
Breathe. We have reached our final destination, and the end will be short and sweet, just like every time we pass the finish line of success.
From here, prioritize these six steps to invest in your success:
- Conserve a portion of your time daily. This saving habit that can give you time to execute your blueprint even if you have annoying employers, obstacles, or people in your life.
- Prioritize investment in yourself so that at a minimum, you keep pace in recession periods (the periods of time when you do not have the tools to succeed but are resourceful enough to get to the tools you want).
- Diversify your time to meet successful people and to learn about famous people who were once unsuccessful. As a result, you will learn how to be risk free.
- Focus on long-term potential and short-term gains.
- Teach yourself about how to build a stronger blueprint. (In other words, educate yourself on your why to do thing and how to do thing.).
- Avoid the urge to be exploited by negative focus energy that will affect the time you have to reach your destination.
Coming soon: Priority over Priorities book. It details the patterns that are required to either prioritize your priorities or achieve your goals. Although priorities can be subjective and general, the author will give you the patterns that you need to check your priorities off one after another. Once you master those patterns, there is no dream that will be bigger than your plan. However, your challenges will remain obstacles until you change how you look at them. Then, they will change, too. Last but not least, the author will show you how successful you already are and that success happens every day in your life. You will not be left alone when it comes to discerning the most important item(s) from a list of important items. The purpose of the Priority over Priorities book is to help you learn how to prioritize your goals and feelings to succeed in life.