Learn more about personaldevelopment with this collection
How to develop a growth mindset
How to think creatively and outside the box
How to embrace change
4. Humility
he most important quality, in our opinion, is humility. We must recognise that there are a zillion ways to go from point A to point B, and ours is just one of them. It is rather immature to assume that what we are doing or our choices are the best.
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3. Balance/composure
We must recognise that any choice we make in life or personal finance will have an associated cost. Sometimes the cost is immediately apparent, and sometimes it may take decades to reveal itself.
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1. Individuality
We need to be clear about why we are investing. Otherwise, the smallest perturbation – a market up move or down move, or an opinion by an expert with tweet diarrhoea can make us question our choice.
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2. Discipline
Once we create an investment plan suited for us, we need to stick to it, rain or shine. Due to the ups and downs of life, we may not invest regularly. We must keep track of the missed investments and make up for them late
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I came across an neat article which actually gives a quick reality check which every investor must have in the process of building wealth.
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Improve your self-awareness by tracking your daily choices
Once we understand the root cause of our behaviors, it is easier to work towards our goals. One way is to improve our self-awareness. How many food choices do you make a day? While most people would guess around 14, studies reveal the average number is 227.
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Pride stunts our growth
True humility allows you to plot Point A and accept that risk and failure are part of moving to Point B.
- On the other hand, pride allows us to say we are beginners, but not to accept the process of learning that involves risk and failure.
- Then pride tries to protect our ego by...
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