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Informative Articles

Buy and Hold: How to Perpetuate Your Investment Losses
A recent cartoon in my daily newspaper showed two guys sitting in a bar. One is saying to the other: “I did learn something from my broker...how to diversify my investment losses.” While this struck me as funny, there is certainly an element...
Real Estate Investing and Goal Setting
What is the primary reason for success most people have that seems to elude unsuccessful people? Goal setting is the primary reason for success. Lack of proper planning is the number one reason for failure. Proper goal setting involves setting...
The Capital Asset Pricing Model of Stock Investing (CAPM)
In 1990 Harry Markowitz, Merton Miller, and William Sharpe shared the first Nobel Prize in the very young area of financial economics. The Nobel committee recognized Harry Markowitz for developing portofolio theory, Miller for the theory of...
The Difference Between Investing and Trading
Investing and Trading are not the same thing. The returns you seek, the length of time it takes to achieve those returns, the amount of risk one is prepared to take, and the commitment one can make to monitor the investments dictate the strategy...
The Seven Deadly Tax Sins: Commonly Missed Deductions
It's that time again, the April 15 tax deadline is looming large. If youre like most people, you havent gathered all of your tax records, let alone filled your return. Before you dig in and get started, take this opportunity to first review a...
 
Investing Is About Discipline

Investing is about Discipline

If you don't have discipline then walk away from the idea of being rich. You see, getting rich without discipline is relying on the lottery or your favorite pony ambling past the finish line in front. And how likely is that...?

The idea of wealth retention is what you have to consider and grasp firmly. That must be the goal of any strategy. Get it and keep it. Sounds simple but the average Joe gets it and spends it - on stuff, dreams, hopes, scams, bum ideas, and so on.

Those guys who get the idea of "get it and keep it" are the ones who gain wealth. Even a person of modest means can do this. Consider this - most people who have aspirations of gaining wealth have an income. If they don't have an income I'm going to suggest that food and shelter are probably foremost in their minds.

So let's assume that the guy who aspires to be wealthy has an income. If he stuffs some cash in a box every time he gets paid his salary, and keeps it there he is already gaining wealth. He has accumulated an asset he never had

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before. Average Joe says - "lets put cash in the box next week - we'll buy take out this week".

Sounds crazy huh - but it's true.

The second step in being wealthy is discipline.

The second step .... what happened to the first?

The first step ..... You have to choose to be wealthy - or have stuff. More on that another day. Think about it.

Kevin Bauer
http://www.grow-your-wealth.com

About The Author

Kevin Bauer is an entrepreneur and teacher. He has owned and published community newspapers, built and sold a life insurance brokage company, developed property, taught salespeople how to increase their business, helped small business owners to increase their customer base and buying frequency, worked with major corporates on their sales and marketing strategies and now focuses on using the internet to build his own business. More ideas on wealth creation at: http://www.grow-your-wealth.com.