Read on Twitter
1/ Let me share a bit of a personal journey and it’s implications for investing/personal finance:
In the last 5 months I have lost 25 pounds:
In the last 5 months I have lost 25 pounds:
2/ This has always been a struggle of mine and have finally found things that worked.
I hired some advisors and professional help (weight watchers and a personal trainer).
Lesson learned: for something as emotional as money or weight, it can pay to hire professional help.
I hired some advisors and professional help (weight watchers and a personal trainer).
Lesson learned: for something as emotional as money or weight, it can pay to hire professional help.
3/ I used to think that weight loss was about making a heroic effort over a short time but have realized it is about embracing the daily grind and being OK with not seeing a lot of short term progress.
Lesson Learned: Fortunes aren’t made overnight but one small action at a time
Lesson Learned: Fortunes aren’t made overnight but one small action at a time
4/ I often abandoned weeks of work when the scale would inevitably showed a gain. I would revert/binge and then stop the work.
Lesson Learned: Ignore the short term noise. Have a mission statement/focus and know you will hit turbulence and have a plan to overcome ahead of time.
Lesson Learned: Ignore the short term noise. Have a mission statement/focus and know you will hit turbulence and have a plan to overcome ahead of time.
5/ I have succeeded because I have had daily support of my brothers who are fitness buffs. Having an outlet to share success, results & frustrations has been invaluable.
Lesson Learned: Find a group of likeminded investors (or an advisor) with similar perspective & share often.
Lesson Learned: Find a group of likeminded investors (or an advisor) with similar perspective & share often.
6/ Patience and auto pilot have been helpful when it comes to food and workouts - make the same meals and workouts routine with just enough variation to not get bored.
Lesson Learned: Automate everything you can on finances - savings plan, withdrawals, rebalances, etc.
Lesson Learned: Automate everything you can on finances - savings plan, withdrawals, rebalances, etc.
7/ Record keeping - I have tried to log every meal in weight watchers app. It’s boring but it makes you aware of what you are doing. Having a good plan for the day is critical to having a good eating day.
Lesson Learned - Have a financial plan! It will change but a plan is key!
Lesson Learned - Have a financial plan! It will change but a plan is key!
Fin/ Just like weight loss, what it takes to succeed financially is known but hard to do. Know and admit short comings, get professional help if, when & where you need it, be disciplined, patient and embrace the grind. It’s a long (and boring) journey but the end is worth it!
