By J.P. Dahdah, Founder & CEO of Vantage
One of the most powerful questions I ask when teaching workshops is, “What motivated you to attend this workshop today?” The resounding response is, “I am tired of watching my money evaporate in the stock market, and I want to learn more about alternative options.” I always congratulate these attendees for making the critical step toward financial success — showing up to take ownership of their financial results. They made time in their busy schedules to control their money and obtain financial knowledge to make more informed decisions with their money. It is human nature to allow our mind to validate the reasons why giving up makes sense… “My balance keeps going down every year, so I’m done with investing.” By nature, we usually view a problem as something outside of ourselves… “My advisor selected those horrible funds, not me. It’s not my fault.” No, it is your fault. You placed your financial future in someone else’s hands. You chose the easy way out, and now your IRA balance is paying the consequences. You chose to believe that investing was as easy as putting money in a mutual fund and sailing into retirement. Again, your fault. Building wealth is hard, and the leading character in YOUR journey is YOU. Your retirement account is not a rotisserie oven. You can’t ‘Set it and forget it!’ If you are unhappy with where you are financial, stop pointing fingers and do something about it. Stop throwing good money after bad money. If you have losers in your portfolio, get over it, get rid of them, and make a move in an alternative direction. Every day you procrastinate. This decision may be the difference between financial success and financial disaster. Face the brutal facts and own up to the leading role you play in your financial journey. It’s your money. Make your move. Happy Investing!