Thursday, December 4, 2014

Talk Is Cheap, Action Is Expensive, Grit Is Priceless

I'll tell you a secret.

The difference between a person who is financially independent by 35 and one who still can't retire at 65 is not due to the amount of knowledge he/she has. 

In fact, it has little to do with intelligence, your grasp on technical analysis or your ability to time the market.

Every time I fire up the Bloomberg app on my phone, a torrent of financial information gushes out of the screen and it is overwhelming to make sense of it all. 

As if navigating through that noise isn't enough, I get a fresh 'market report' laced with 'expert opinions' from the broker in my inbox each morning, persuading me to make impulsive trades. 

In the personal finance sphere, I read tonnes of blogs that spew out solid information on managing your money, tactics to earn passive income, ways to cut down expenses and all that other good stuff.

"But all this information is useless if you're not willing to act on them." 

Taking action is the first and most important step in our finances, and everything else. There's absolutely no need to wait till next year to make a change - new year's resolution is nothing but a form of procrastination.

If you're in debt, start taking action today. If you're unhappy with the corporate treadmill, start building a freedom fund today. The amount you contribute does not matter, start with $10, $20, $50 a month.

Like a wet snowball rolling down a mountain, your efforts compound on one another and small wins lead to huge victories.

Just start now.

There's a famous Chinese proverb that goes like this:

"The best time to plant a tree was 20 years ago. The second best time is now."
If you're one of the few that has taken action, welcome to the club!

But we all know how it feels to make sacrifices, to keep giving, to keep contributing to a fund and yet see little returns in the short run.

It's so tempting to give in.

If you're tempted to give in, please don't. This is the breaking point and you don't realize how close you are to achieving your goals.

That's grit.

I've seen rubber tappers sending their children to medical school through sheer grit. I know an immigrant who started out with nothing and now owns a chain of restaurants. He did it through sheer grit.

I've seen my mother make ends meet on a single income, through sheer grit.

And it's priceless.

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  1. The best time to buy a property was 20 years ago. The second best time is now

  2. Well put. You can read all you want about money. You can complain that learning about money is too complicated. But until you actually do something about it all, nothing will ever happen.