By J.P. Dahdah, Founder & CEO of Vantage
There are two types of investors in the world. Those who expect others to achieve their financial goals for them and those who place that responsibility on themselves. Self-directed investors understand that “I” is the most important letter in IRA. This is your individual retirement account. Sure, it’s easier to blame others for your financial failures and poor investment returns. But how does that actually help you get closer to accomplishing your retirement goals? The blame game masks our personal fears and insecurities. If you don’t care more about your nest egg than those who you keep blaming for your financial situation, then shame on you. Taking personal ownership and responsibility for your financial destiny is essential to being successful with money. I hear things like “JP, I’m not good with numbers and financial stuff.” My response is “well, get good at it then.” Don’t be comfortable with your weaknesses, work on them. Attend a workshop, read a book, register for a financial blog, get engaged in the solution. At Vantage, we frequently remind ourselves that “We can make money or excuses, but not both.” If you already learned that lesson, congratulations! You must believe in yourself and what you are capable of. Have faith in yourself. Will you make mistakes? YES! Good. Learn from them and move on. Forgive yourself quickly and figure out a way to not make the same mistake again. Actually, take it one step further and share your mistake with others so they don’t commit the same mistakes either. Investing isn’t about perfection, it’s about determination. When you refuse to accept the undesirable financial position you may be in and are willing to work tirelessly to improve it, your personal financial independence awaits. Happy investing!