As mentioned in my post, “17 Truths I Have Learned in 2017,” never count unhatched chicks. That has a literal meaning for me…
that I am not allowed to discuss right now. But, I digress. Sometimes we get extremely excited for something (or, someone) that it gets our hopes up so much that we get blindsided. Such a big mistake! When this happens, we have to quickly reroute our path and tread on.
Related Topic: Eighteen Ways Parents Can Save Money in 2018
As I did a quick financial analysis and looked back over the past year, here are some of the major points that made a mark on me.
Here are the 7 biggest lessons I learned from investing last year:
- Profit cannot be guaranteed. There are no guarantees in investing. I can always estimate but can never guarantee the number of piglets that a sow will deliver.
- Use the power of leverage. Leverage the power of debt, knowledge, focus, acquaintances etc. I will always have something that I can fully maximize to my own advantage and it doesn’t have to be cash.
- Network, network, network. Who I know is more important than what I know. I know people who develop software applications and that is more valuable than me learning how to code.
- Investing is more than just money. Spending money on stocks or real estate without much thought is not investing. Buying expensive works of art is not investing if I can’t differentiate Picasso from Monet. Which brings us to the next lesson learned…
- Investing is a lifestyle. Investing includes the things I buy, books I read, goals I have, assets I accumulate, etc. Investing is all about my total financial well-being.
- Take action! Listening to podcasts every day, reading books every weekend and attending seminars every month will not multiply my money unless I take action. Knowledge is useless without execution.
- The decision is mine to make. David Ramsey can frequently remind that debt is bad and Suze Orman can always discourage investing in mutual funds but it is my money; it is my life and I have my own set of goals. The decision of when, where and how much to invest will always be mine and, mine alone.
I am the type of person that regularly plans ahead but unfortunately, do not usually reflect on events that had transpired. Perhaps, because what has been done is done? Writing this blog post helps me think about what I have learned and how I can use that to map out my goals for the year ahead.
If you are an investor, what investing lessons did you learn in 2017? If you are an aspiring investor, what investing lessons do you wish to learn? If you know people who can benefit from My Favorite Lists, please use the social icons to share!
Hope you have learned something today,