All too often I witness individuals and websites over complicating the simplicity of investing.
The truth is if you understand the basic concepts of addition, subtraction, multiplication, and division you should be able to grasp investing seamlessly.
The closest analogy I can think of to represent the situation I’m talking about is the relationship between personal trainers and their clients. The majority of personal trainers I have met train clients for a specific amount of time or until their goals are met, then stop. If the client wishes to train further he/she has to hire them again. This blows my mind time and time again because the client literally just spent 1-3 months with that personal trainer yet they couldn’t/didn’t retain any of the knowledge over that time period.
I have nothing against personal trainers and I understand that there is a legitimate business behind personal training but the core argument I’m making is instead of “teaching” their clients most trainers train their clients. No knowledge is retained by the client and in turn the trainer/client relationship is like a crutch, the client doesn’t know how to move on, they have become reliant on the personal trainer to show them what to do. The clients have NOT developed a fundamental knowledge of exercise only a dependency.
This is not the type of environment that I want to foster here at Brick By Brick Investing. My goal is to assist you in your education of basic stock market principles and catapult you in your journey to financial independence.
How do you obtain financial wisdom? How in the world can you improve your financial situation and/or your financial IQ?
In order to obtain financial wisdom, it is going to require massive and I mean MASSIVE amounts of humility. But please understand that humility does not come naturally, for some reason we are programmed to believe we are always right.
I want you to think about something for a minute. When you see a humble person compared to an arrogant person, which of the two do you find incredibly repulsive? The arrogant person right?! Yet there is something in most of us that wants to guard our opinions, defend our beliefs, while never being wrong and always being right. We either push back overtly or covertly, heck some people even do the whole passive aggressive thing. But I think you will agree that it is extremely difficult to submit ourselves to other people because it requires an extreme amount of humility.
So in order to obtain or receive wisdom you need to understand that wisdom leads to humility which actually leads to greater wisdom. Let me put it another way for you. When ever I meet a person who lacks humility, they typically lack wisdom. Because the only way to gain wisdom is to:
- Be open to new things
- Be open to the fact that you might be wrong
- Hold your assumptions about all things out in the open and say…
- “Here is what I know”
- “Here is what I believe”
- “Here is what I’ve always thought”
- “But you know what I’m always open to learning something new.”
Only an arrogant person says “I know everything there is to know and I’m never wrong!” We’ve all met some of those people, in fact chances are you were that person at some point in time in your life. I certainly was, I knew everything about everything and I was never ever wrong. That’s part of the reason it took my wife so long to go out on a date with me
But at some point you grow up enough to realize that you’re not as smart as you thought you were. Because if you were as smart as you thought you were you would be where you wanted to be. The only way to gain any sort of wisdom is to live with an open mind and tell yourself on a daily basis “There is more to learn, there is more knowledge to gain, and there is more understanding to acquire.” Your days of learning will never ever cease, if you acquire this mindset you will find that you learn something new every single day.
Rule Number 1
One of the first lessons I want to teach you is that investing is an art and not a science. But if you are stuck with a permanent “Black and White” attitude then remember this….
The ONLY right answer is MAKING MONEY CONSISTENTLY.
“Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1.”
– Warren Buffet
This is what I aim to teach you here. Please make no mistake, there are individuals who are smarter and more experienced than myself when it comes to investing. I literally learn something new every single day and it is my opinion that when you stop learning you fail to move forward. Building a fundamental foundation of knowledge is hard and for novice investors it may feel like you’re trying to drink water from a fire hose. 9 out of 10 individuals who set out to invest on their own, either lose money or are so overwhelmed by the information they quit before they get started.
Let Me Be Your Stepping Stone
I am not a teacher, only a facilitator of learning.
Let me be your stepping stone, get your footing here, feel your way around, and one day you will feel confident enough to venture off seeking additional education and assistance on your journey towards financial independence.