True Wealth is not just having money in the bank, it’s an inner condition of wellbeing. It’s about your financial health, your personal growth, your life and love, your passions. Your health is also your wealth.
A favourite of mine is Yoga. Let’s look at how you can take your Yoga practice, and make it your investment practice:
Patience: The first time I sat on my Yoga mat this year, I thought “I’m going to do a headstand like my instructor.” Let me tell you how that turned out. I wobbled and fell over until I came to the realisation that my instructor has probably been doing this for years, and I need to be patient and consistent if I want to look half as graceful as her!
Investing is no different. If you expect to put $10,000 into any asset today and turn it into $100,000 tomorrow – you’re bound to fall on your face. History shows us that it is the time in the markets that will reward you with the returns you deserve, it just takes discipline and patience to reap those rewards.
Block out the Noise: When I’m sitting in a Yoga pose and I hear my 5-year-old running up and down the halls chasing our pet cat, it can be hard work to tell myself to tune out of the noise and focus on my inner calm. But I know that if I allow myself to do so, I’m far more likely to finish my session and address his terrorising of the cat peacefully. My alternative is to immediately react, ruining my chance of getting the benefits from my Yoga session and losing that opportunity to better my own health.
The investment world is similar. You will always hear the 5-year-olds in the news headlines yelling at anyone that will listen to play with them in the stock markets, but that’s probably not what’s best for your financial wellbeing. Block out the noise and employ the strategic principles that you know reward you (and you’ll have a lot less of a headache because of it!).
Getting the Balance Right: As with any exercise, too much focus in one area can actually give you worse results. I can practice down-dogs, plank/chaturangas and upward facing dogs as my entire practice, but I’m bound to have sore arms, and likely burn out. The rest of my body didn’t get a workout, and I don’t have the overall results my Yoga practice should provide to me.
When you invest, striking the right balance of diversified assets is what will have you achieving the results you want. Taking too much or too little risk in your portfolio will often return unwanted results and put your longer-term goal at jeopardy. Setting out an investment exercise routine with the right balance is the key.
Teneale Laister (CFP Professional, BCom[Fin,FP,Mgt] ADFS[FP]) is a representative of Alman Partners Pty Ltd, Australian Financial Services Licence No: 222107.
Note: This material is provided for information only. No account has been taken of the objectives, financial situation or needs of any particular person or entity. Accordingly, to the extent that this material may constitute general financial product advice, investors should, before acting on the advice, consider the appropriateness of the advice, having regard to the investor’s objectives, financial situation and needs. This is not an offer or recommendation to buy or sell securities or other financial products, nor a solicitation for deposits or other business, whether directly or indirectly.