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9 Must-have Skills to Invest like a Pro

9 Must-have Skills to Invest like a Pro

When people think of investments, they usually associate the word with investment banking or the stock market. In this information age, there are boundless vehicles for building long-term wealth, like real-estate, information marketing, venture capitalism, business ownership, franchise, and network marketing, to name a few.

With pensions on the decline, and with governments less and less able to support their aging population, a comfortable retirement is increasingly becoming an individual’s personal responsibility. It’s now time, more important than ever, for us to sharpen our investment skills to secure our own financial future and security. While we’re at it, why not go for gold and secure our financial freedom too?

Here are 9 must-have skills to invest like a pro.

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1. Delay Your Gratification

A study gave children two marshmallows. The young participants were promised two more if they waited 15 minutes and didn’t eat the marshmallows. The ones who delayed their gratification were much more likely to succeed in life than the children who caved to instant gratification. Pro investors don’t eat the marshmallow. They practice patience and invest up front to reap long-term rewards.

2. Distinguish Myth from Truth

Pro investors don’t believe everything they hear in the News. They base their decisions on advice from mentors who they know have walked their talk. They base their real-estate decisions on economic fundamentals, their online business decisions on client feedback, and their stock investments on trends – not spikes. They don’t panic about looming bubbles, bursts, or crashes.

3. Become Financial Literate

Financial literacy is not a talent reserved exclusively for math geniuses. As Robert Kiyosaki, author of Rich Dad, Poor Dad, teaches: financial literacy is educating yourself on the relationship between income (what comes in), expenses (what goes out), assets (what you own), and liabilities (what you owe). Pro investors work on their business, not in their business. Pro investors also own assets that work for them, rather than them working for money.

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4. Leverage Your Time

Pro investors work smart, not hard. They leverage time by investing early and for the long-term. They leverage other people by hiring them for their time and expertise. They leverage money by using other people’s money to create more money (via mortgages, venture capital, etc.). Delegating tasks is essential to maximizing profits, a la Tim Ferriss – a pro investor who works The 4 Hour Work Week.

5. Discipline Yourself

In this age of social media, there are shiny distractions everywhere. To succeed in building long-term wealth, pro investors practice daily self-discipline. They “wax on” and “wax off” consistently and persistently on their daily, weekly, monthly and annual goals. They don’t get side-tracked by people who are not on track. They prepare their day the night before. They also conquer one big important task, first thing in the morning before they ever open their inbox.

6. Master Your Emotions

I.Q. (intelligence quotient) has taken a backstage to E.Q. (emotional quotient), says Daniel Goleman. E.Q. is a measure of emotional intelligence: the ability to stay calm under stress, think creatively under pressure, and recover quickly under failure. Pro investors don’t have knee-jerk reactions to external circumstances. They pause, quickly weigh their options, and respond in a way that creates the outcome they want.

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7. Just Decide

From the pages of Think and Grow Rich, the premier guide to wealth and business success, pro investors are decisive. They trust their intuition, decide promptly, and course-correct along the way. They don’t fall into the Black Hole of analysis paralysis. Most people follow the ready, aim, fire motto. Pro investors follow the ready, fire, re-aim motto.

8. Persist

Pro investors plan their work and work their plan – even when they don’t feel like it. Once they’ve chosen their investment vehicle, they go deep, not wide. They become experts in their business or investment vehicle. They maintain enthusiasm between highs and lows, wins and failures. They learn and feed those lessons back into their next action step.

9. Lead Yourself, Lead the Team

Pro investors know who they are, leverage their strengths, outsource their weaknesses, and know why they invest. They have a massive vision for their impact in the world, in their community, and in their families. They seek to create meaning through their investment vehicles. They serve others. True leaders don’t just create followers, they create other leaders.

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Are you operating like a professional investor?

How many of these skills do you currently have? How many of these skills do you want to master? Let’s face it, everyone is busy now-a-days. When you ask them what they’re busy with, they don’t always know. Don’t fall prey to busy-ness! Choose a skill that you’d like to sharpen. Every day, take one small step in that direction.

Remember, we all crawl before we walk.

Featured photo credit: pixabay.com via pixabay.com

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Last Updated on August 15, 2018

30 Fun Things You Can Do This Summer Without Spending Much

30 Fun Things You Can Do This Summer Without Spending Much

Summertime can be a real strain on your wallet. The sun is out, there are people to see, places to be; it’s no wonder you might be short of funds during these sunny months. Not everything has to cost you an arm and a leg.

Take some time to go through this list of 20 cheap summer activities and make some realistic goals to complete as many as you can.

Video Summary

1. Visit a strawberry festival

Summer is prime time for tasting strawberries. More often than not, an area that grows strawberries will have a strawberry festival. Indulge yourself in strawberry pies, jams, cakes and more!

2. Have a picnic

Take your partner or your family to the local park and enjoy a relaxing picnic. Designate each person to bring one food item of their choice to add to the fun.

3. Camp in your back yard

    The summer heat can sometimes make it hard to sleep. Why not enjoy the heat outside in the yard? Pitch a tent or gaze into the night sky.

    4. Take long walks

    Discover something new where you live. Take the afternoon off from your chores and go for a long walk. You may be surprised by what you discover.

    5. Break a world record

    Breaking a world record doesn’t have to be time-consuming. You could even break one on your lunch hour. Give it a go!

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    6. Go on a bike ride

    The number of bike paths on roads in big cities has increased dramatically over the years. Take advantage, and enjoy the summer breeze.

    7. Join a gym class

      The gym is not everyone’s idea of a good time, but why not go with a friend a join a class? Spinning, yoga and step classes are always more fun with friends, and a lot of gyms allow you to pay-as-you-go.

      8. Find a new hobby

      The summer is the perfect time to find a new hobby. Serotonin (our body’s natural “happy” hormone) is produced by the sunshine and will be at a yearly high, which is great for when we want to tackle something new.

      9. Join a sports team

      Not all sports teams are competitive and require huge amounts of your time. Join in the fun with like-minded people, get fit, stay healthy and make some friends along the way.

      10. Make a slip ‘n slide

        Gather your friends, some plastic sheeting, a hose, washing up liquid if desired, and make a huge slip ‘n slide just like these guys. Granted, yours won’t be as big, but you get the idea… it’s fun!

        11. Make a treasure hunt for your kids

        Today’s digital world sees our children more often than not playing inside than outside. Why not create a sense of adventure by making a treasure hunt? Only rule? It has to be outside.

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        12. Visit a free festival

        Towns and cities are awash with free festivals, with themes from film to science. Scout your local area and discover something new.

        13. Visit the zoo

          Let’s face it: we love animals. While browsing news websites and social media networks you’re bound to come across a few pictures of cats. Take a trip to your local zoo for a better experience.

          14. Take a road trip

          Enjoy the open road with a few friends and take a road trip somewhere–anywhere. Just go out and enjoy the sunshine!

          15. Play ultimate frisbee in the park

            Frisbee is always great fun down the park, but why not turn it into more of a competitive sport by playing ultimate frisbee?

            16. Make your own ice cream

            Ice cream is a very versatile dessert. Make a sandwich, enjoy a cone, or simply just enjoy a bowl full. Better yet, making your own ice cream allows you to create any flavor you want.

            17. Invite your neighbors over for a BBQ

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              When was the last time you invited your neighbors over? Do you even know them? Now’s your chance. Just ask each person to bring a food item so costs don’t mount up for you.

              18. Get a summer job

              For many students, summer is the time for relaxation and fun. But who said earning money and being productive isn’t fun? You only get out what you put into a situation.

              19. Attend a charity event

              Attending a charity event is a great way to raise funds and awareness for a cause, meet new people, and generally have a good time. Search for your local charity event today.

              20. Visit a national park

              National parks are a great way to explore nature and learn something new. You could even volunteer and make a difference in helping restore natural habitats.

              21. Visit your local comedy club

                Local comedy clubs are extremely underrated. They are cheap to attend and no doubt you’ll have a barrel of laughs.

                22. Make your own hammock

                  Hammocks are very relaxing, are perfect for summer afternoons and are surprisingly easy to make.

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                  23. Read in your new hammock

                  Now you have your very own hammock, the only thing left to do is enjoy it. Grab your favorite book and read to your heart’s content.

                  24. Watch a movie outside

                  Movies are great. Relaxing outside in the evening is great. Put them together and you’ve got a perfect combination. In D.C, Maryland and Virginia this summer, for example, you can enjoy a huge number of movies outside.

                  25. Take a hike

                    Hikes are a great way to keep fit and see more of Mother Nature. There are countless trails available for you to explore. Why not try some this summer?

                    26. Learn how to fly a kite

                    As a child, you probably had a kite and haven’t touched it since. Why not dust it off and attempt to fly it? It’s tricky, but well worth the challenge.

                    27. Work out at the park

                    American cities are full of parks with ample space for a work out session. No doubt you’ll be happier to work out in the sun rather than a crowded gym.

                    28. Take your dog to the beach

                      One of the many joys of owning a dog is taking him or her for long walks during the summertime. This joy is enhanced when visiting the beach, for both you and your dog.

                      29. Make a summer smoothie

                      Healthy, delicious and perfect for the summer. Not only that, there are countless recipes ready for you to try.

                      30. Attend a free yoga session at the beach

                      No experience needed and all skill levels are welcome. Take yourself and a buddy down to the beach and try some yoga. You’ve got nothing to lose!

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