Motivation is More Important than Your Investments

Motivation is More Important than Your Investments

When you put your feet on the floor each morning, your journey for the new day begins. What is your motivation for getting out of bed? The answer to this depends largely on your stage of life and dozens of other factors. Some people have jobs; some have family responsibilities; others have interior motivations. The reasons vary widely, of course, but everyone has something that drives them to not only wake up, but then get out of bed.

What Keeps You Up?
 

What about the other end of the day? Is something keeping you awake at night? What worries you most? Numerous studies point to money and health as being the two topics at the top of the worry list.

Our three decades of experience have shown us that the way you perceive yourself, and the world around you, is a critical factor in determining success at accomplishing financial goals. Attitude and temperament are also of tremendous importance.

All of this is traced directly to your aspirations, motivations and fears. High income earners are usually happy to talk about things they want to happen, but far less open in discussing anxieties and outright fears. However, just failing to acknowledge fears won’t actually make them disappear. They just fester and reappear in another form.

Related: How to Achieve Superior Outcomes

Motivation is More Important than Your Investments
 

Take note. In the roughly 200 words above, I have not mentioned “investments” or “returns” even once. This is purposeful.

Achieving financial success is not just about investment performance. Money is something that has a different meaning to everyone. Stripping out all other factors to focus on how well or poorly a set of investments have fared over some period is utterly meaningless and something outside your control.

Your reason for investing...your reason for getting out of bed each day, has a much broader purpose. Helping you focus on that purpose is what we do.

James E. Wilson
Advisor
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James founded South Carolina’s first fee-only financial planning firm in 1982 and is a pioneer in the financial planning field. He has advised hundreds of successful individ ... Click for full bio

Most Read IRIS Articles of the Week: Feb 19-23

Most Read IRIS Articles of the Week: Feb 19-23

Here’s a look at the Top 11 Most Viewed Articles of the Week on IRIS.xyz, Feb 19-23, 2018


Click the headline to read the full article.  Enjoy!


1. Don’t Get Pinged by the Social Security Earnings Limit


I’d like to introduce you to Peggy. Born in 1956, Peggy will be 62 in 2018. She has worked in retail her whole life, the past twenty-five years spent in management. Peggy divorced from her husband 14 years ago, is still single and has no children. — Dana Anspach

2. We're Back to “Bad News is Good News” and “Good News is Great News”


This week the markets shrugged off last week’s fears and went back to the slow and steady melt up, despite economic news that looked likely to once again rock the boat. — Lenore Elle Hawkins

3. Q1 2018 Factor Views


Themes established in 2017 across a wide range of markets and factors continued to resonate through the fourth quarter. Economic growth was strong and supportive of equity markets across the globe, a range of volatility measures reached all-time lows, and business and consumer sentiment remained elevated. — Yazann Romahi and Garrett Norman

4. A Beneficial Basket of Commodities


Advisors and investors that feel they are hearing more and more about commodities and the corresponding exchange traded products in recent months are right. That is a natural result of dollar weakness and yes, the greenback is floundering again in 2018. — Tom Lydon

5. 3 Trends Shaping the Future of Asset Management


As the industry works to cope with new regulation, wades through an outpouring of new products, learns to satisfy investors’ shifting priorities and manages the active-passive debate, the viability of business units will be questioned, and at times radical measures will be taken. Peter Hopkins

6. 5 Ways Advisors Leave Money on the Table, and What to Do About It


My hope is that this article points out some opportunities for you to make more money and serve your clients at a higher level and that you decide to do something about it. — Bill Bachrach

7. The Market Has Gone Wild! Is It Time to Change Your Investment Strategy?


Whether the market is flying high or taunting your emotions with new lows and some bumpy volatility, here are four things every investor should keep in mind ... — Lauren Klein

8. How to Deepen Client Relations and Capture New Business Using Engaging Content


Why financial advisors NEED to understand much more clearly the power of good digital market. With tools like AdvisorStream, it’s easier than ever to get the content you need to drive leads and referrals today! — Kirk Lowe and Matt Halloran

9. Three Ways The Most Successful Gain Big Attention


How do some firms and ideas go from nowhere to everywhere in a few short months? All of a sudden a restaurant becomes popular, a gas station gains a cult following, or a Broadway show becomes too popular to get a ticket for years. — Maribeth Kuzmeski

10. Who Are the Hottest FinTech Firms and Influencers Around the World?


"Worldwide, $27.4 billion poured into fintech startups in 2017, Accenture reports, up 18% from 2016. With so much in play, it’s not surprising that 22 companies are new on this, the third edition of our list."  — Chris Skinner

11. The New Stock Market Normal Is Not What You Think!


Many sensational headlines have been written the past few weeks about market declines, but two things have increased for sure: the viewership and the ad revenues of financial media organizations — Preston McSwain​​​​​​​

Douglas Heikkinen
Perspective
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IRIS Co-Founder and Producer of Perspective—a personal look at the industry, and notables who share what they’ve learned, regretted, won, lost and what continues ... Click for full bio