One of the most powerful secrets rich people understand is the ability to invest, and the truth is that this keen ability sterns from the virtue of delayed gratification - they are willing to wait a while and grow their capital before expenditure takes place. However, one of the most frequent questions I am asked as a live coach is “what to invest in?” this question I have discovered doesn’t have a "one size fits all" answer. In fact, just because an industry seems to be experiencing a boom doesn’t mean it is the place for everyone to invest in; the truth is that investments must be tailored to individuals.
Charles Francis Adams, the 19th century political figure and diplomat, kept a diary. One day he entered: "Went fishing with my son today - a day wasted." His son, Brook Adams, also kept a diary, which is still in existence. On that same day, Brook Adams made this entry: "Went fishing with my father - the most wonderful day of my life!" The father thought he was wasting his time while fishing with his son, but his son saw it as an investment of time. The only way to tell the difference between wasting and investing, is to know one's ultimate purpose in life and to judge accordingly.
I have discovered that investments tailored to an individual’s ultimate purpose in life, in line with his skills and natural abilities have a 90% success rate as opposed to an investment in an industry just because it seems to be the market’s favorite at the moment. Beloved, invest wisely.
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