“Time is your friend; impulse is your enemy.” – John Bogle
Time is the most important factor when it comes to growing your investments. The sooner you start, the more time your money has to work for you through time-value of money and compounding.
For some context and some stock market history here in the Philippines. If you bought AC – Ayala Corporation shares on January 03, 1985 (I wasn’t even born yet) at Php1.65 per share and sold on January 08, 2018 at Php1,065 per share, with a holding period of 30+ years, your gains could be at +64,445.45 percent!!!
That’s just an example of the power of compounding interest and long-term investing. As I’ve mentioned earlier, time in the market is more important than timing the market.
Performance chasing and market timing is hazardous to your wealth (more expenses & tax reporting complications). Instead, you should just invest in the broad market (index fund) and hold.
Also remember, that we are all juggling a lot of things in life. Allocate a portion of your time for yourself, your family, your health. Balancing the social, spiritual and financial aspects of your life.
Doing all that requires patience, I don’t think anything valuable comes fast.
Time is the most impatient of all, as it waits for no one. So, be patient with your investments as well as yourself, there is no greater investment.
“Patience is not passive; on the contrary, it is active; it is concentrated strength.” – Edward Bulwer-Lytton
We grossly underestimate patience. Patience is not about waiting for something to happen. It’s about becoming in-tune with how your life is unfolding.
There’s so much going on in our lives that our minds can’t be aware of it all at all times. It requires us to wield our attention and self-awareness properly. Each of the things that we are starting are like seeds that requires time to grow. We need to nurture it, as well as be patient with the process of growth.
We don’t know how many storms, floods, or the like disaster that the seedling may encounter and all the plans may not happen in the order that we had in mind, but still have patience, calmly accept the natural flow of the process, life happens, its chaotic.
There’s no rush, do you really need the stuff you want right now? Your friends making more money than you, has nothing to do with you. Shut that thought out of your head.
Positioning yourself to win, takes time. Your time is limited, so design the life of your dreams and then work towards that. Do things that make you happy.
So, if you have big ambitions in life, don’t give up on something you really want. Be patient with yourself, for the alternative is regret, which is scarier.
As Aristotle once said, patience is bitter but the fruit is sweet. Patience matters, for all things are difficult before they are easy.
“It’s not the years in your life that count. It’s the life in your years.” – Abraham Lincoln
Go out there and create a life second to none. Don’t worry about what other people think. That includes sometimes your family members. Slow and steady wins the race, always remember that you are only competing against yourself.
Your impatience is probably due to you not doing exactly what you want to be doing. Why not examine your life, figure out why it isn’t your ideal life, and then take steps towards it.
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The writer wears many hats: RFP®–Registered Financial Planner | Licensed Real Estate Broker | Content Creator- www.vernongo.com