The Wise Investor
First, we have the abstainer. This person spends as little
time as possible on their finances. They may have
investments, but they spend little time reviewing them and
learning about them, and simply hope for the best.
If they have money problems, they ignore them and hope
they will go away. Sometimes these people are lazy, but
more often this attitude is born of insecurity and lack of
This person believes that they know little about
investment, and they could never understand it without a
great deal of time and effort. They often believe that
successful investment is a matter of luck, and there is no
point wasting time worrying about it.
Some people believe they do not have the intelligence, the
time, or the patience to become successful investors.
Others believe that they have no control over their
finances, that their income is beyond their control, and that
they will never have wealth because they need everything
they earn to meet their expenses.
Don't fall into this trap, Kate. It does not take intelligence,
education, luck or a large amount of time to become a
It requires a modest amount of your time, and a certain
desire to learn and improve your position, but anyone who is
willing to make the effort can learn the required skills.
Abstainers are rarely successful with money. They make
poor investment decisions, because of insufficient research
and planning, they do not take the initiative to improve their
wealth for the future, and they are easy targets for sharks.
Poor investments are often held for years, for once an
abstainer has finally made a decision to buy, they try and
forget about the investment, do not monitor it regularly, and
avoid making another decision, the decision to sell."
John looked across at his granddaughter. Her face was a
little flushed, and she looked quite embarrassed. She was, he
knew, guilty of this particular fault, but John did not wish to
embarrass her further, so he quickly moved on to the next