I still remember years ago when me and my friends started to learn how to invest. We were excited when we understood the possibilities of investing. There were probably 8 of us based on what I remembered.... years later, only 2 of us actually invested and are now reaping the benefits from investing.
Investing requires knowledge, then consistent action according to investment plan..
I began to wonder why some people succeed and others don't and have spotted that typically, these 3 groups of people will succeed in investing. Try and see if you can spot yourself in any of these group, otherwise, you got to start developing yourself into one of these 3.
Group 1: The Passionate Investor
Once in a while, I will meet people who are passionate about investing. Throw them a 200 page annual report and they will devour it within an hour. They are simply intrigued by investing and love to study investments. In essence, investing becomes their hobby and they will find free time so they can invest.
Some of these guys become really good friends of mine!
Well, if you are passionate and spend more time then the average Joe in investing, there is higher chances you will be successful, won't you?
Are you in group 1? Do you love to spend time studying investment, reading investment books, reading their financial statements?
Group 2: The Discipline Investor
These investors are amazingly discipline. They will come with lots of specific questions, cut to the chase and invest based on their plan! Usually, based on my experience, these guys are disciplined in almost anything they do.
They don't "love" investing, but they just invest because they know they need to. They will not spend extra time indulging in investing, but they spot the investment they require and then get out of here. I may sound extreme, but you get the point.
Are you a disciplined person who sticks to your plan regardless you "feel" good about it or "feel" bored already?
Well, I do meet a handful of such investors once in a while. These guys are superb!
Group 3: The Community Investor
The final group of success investors are those who do not particularly love investing nor are they very disciplined. How then can they become successful? The answer is simple, they immerse themselves into an investment community.
It is like joining a fitness interest group, even if you are not very passionate nor disciplined, you will still keep on moving until you hit your goal. That is why some people join the gym, hire a fitness instructor or join an interest group. The community is a powerful accountability tool!
Do you have a structured meeting with other fellow investors?
Well, you know as well as I do that investing is not a good to have, but a must, so in order to make yourself successful, remember to check out which group you are in and if not, move into at least one of them because knowing how to invest is one thing, but actually doing it consistently is another. 🙂
To your Financial Success
Team VIC, Founder
P.S By the way, if you’re NOT yet an investor and you would like to learn how to invest systematically, steadily & safely… You’ll benefit tremendously from the 2.5 hrs workshop VIC conducts for beginners. Click on the image below to find out more.