When I think about the word commitment, I immediately think about marriage; maybe being married (and committed) to the same woman for over 22 years has something to do with it. I can’t speak for you all, but I know that when some of y’all either hear or see the word commitment, y’all think of a mental institution or hospital; heck, some of y’all think of jail or prison, I know, I was raised in the ‘hood too. But in truth, the word commitment means many things to different people. However, the definition of the word committed is: to pledge (oneself) to a position on an issue or question; to bind or obligate, to commit oneself to a promise; to be committed to a course of action. The reason that I feel the need to bring up this word and its definition is because so many people seem to have either forgotten or don’t know what a commitment is. Right here, and right now, millions of people all over the world aren’t committed to doing anything meaningful that will enhance their lives. Case and point: investing. Investing ones money requires a firm commitment. Just because you invest a lump sum of money at one particular time, doesn’t mean you’re investing. No, you made an investment. Don’t get it confused, investing (meaning more than one time) is the key to building wealth. Many people open an investment account and within 12 months, they are treating it like a bank ATM (Automatic Teller Machine), withdrawing money for reasons like getting the car fixed or making home improvements such as, putting in new windows, or putting down wood floors. Think about it for a moment, you’ve purchased shares (stock ownership) in apple computer, which means you’re a shares holder, which means, you’re part owner of this multibillion dollar company. You even have voting rights, which means you have a right to vote on company policy. Apple share price has been climbing (increasing in value), in other words, it’s been working for you, making you more money than you can earn for doing “nothing”. The IPOD and the IPHONE are producing billions of dollars for the company that you are part owner of, and you call your broker and say “I need five thousand dollars for wooden floors, how soon can I get it?”. Don’t get me wrong, I’m not saying you shouldn’t ever take money out of your account, however, I believe that money should be used for worthy causes. I just don’t think you should sell your growth stocks and your ownership in great companies to pay for something you should use your discretionary money to pay for. Wooden floors are not a need, it’s a want. When you sell your interest (ownership shares) in major corporations for things like vacations, and auto repair, you reduce your overall net worth. The five thousand dollars spent on flooring won’t count towards adding value to your personal financial statement. Point is, the only way you can ever build wealth is to make a commitment to investing on a regular basis. Not one time, not two times, but consistently a certain amount each and every month.
Remember, time isn’t waiting for no one. Start out with whatever amount you can, just as long as you start!
“There's a difference between interest and commitment. When you're interested in doing something, you do it only when circumstance permit. When you're committed to something, you accept no excuses, only results.”-unknown | |
Let me know your thoughts.
The 3rd Eye
Robert Henderson Jr. CFP
Posts
Rob,
ReplyDeleteKeep doing what you're doing and I support you 100%. The wisdom that you share is PRICELESS! Maybe you should charge for this info because some folk may think info this good is too good to be true to give out for free. Especially coming from you, a CFP? But they have to understand that you are Blessed to be a Blessing! Keep it coming, I love it!
Chris Ruffin
Rob,
ReplyDeleteWhat do you think can help solve the crisis in Haiti? Let your wisdon help try to devise a plan for the people of Haiti which seem to be right in our back yard.
Orange Man
Thanks a lot Chris, you truly are my brother from another mother. I have a lot to say, and people have a lot to learn, especially about finances and the whole money game. it is impossible to live in this world and call yourself "Free" without economic power. Everything cost and has a price to it. Freedom cost, respect cost, love cost, education cost, and peace and justice certainly cost. I don't like this "cost stuff" but until we develop a higher conscious for who we are and begin to understand that we live in a world of plenty, and there's no need to crush,kill,destoy and rob the people. I have always found it's better to give, for giving is the foundation of love.
ReplyDeleteAaron, it's amazing how life unfolds, Haiti reminds me of a sibling who grew up one day after being raised (or kept, enslaved) by parents (The French/America) who were strict and firm with their beliefs. One day the child (Haiti) decided she had enough and rebelled and quickly became the black sheep of the family. The parents said “fine, you're on your own, don't ask us for anything”. And Haiti, the child said, “fine, free at last”. Haiti grew up hard, experienced lots of trials and tribulations, the way many children experience when there's some sort of rebellion. Funny thing is, any time there's a bad separation, and there's hurt and pain between the parties involved, nobody really ever wins until forgiveness, love and peace take over. What's amazing is, it seems to only happen after some major tragedy occurs (earthquake), like what just happened in Haiti. Haiti has been in financial and developmental trouble for many years. Everyone knew this, including all the parents (world leaders) of the world. But nobody did anything. After all, you can't tell a grown adult what to do and when to do it, especially if they don't agree with your views or your terms. Oh yes, don't kid yourselves, there are always terms and conditions before help arrives. Especially anytime you see some sort of delayed reaction in the rescue. The Haitian people have been trying for years to get the same treatment as others who somehow make it to our boarders and are allowed to stay. Over the last several months I have been working with a Haitian woman who was scheduled to be deported after retiring and working in this country for over 20 years. She worried greatly, I told her not to worry, I told her that I believed that her prayers would be answered, I told her to have faith, she said she did, and then the earthquake happened. I never thought so many people had to die before something good happened Haiti. The whole country of Haiti should get rebuilt using higher construction standards. The people should be temporary relocated until the infrastructure is completed. The only way this is going to happen is through "good will" why, because for one thing, tax payers won't say it loud, but trust me, they'll say it privately- the U.S. can't afford it. Especially since Haiti has no natural resources like gold, diamonds or oil that has to be protected. Funny how, when it's all said and done, whatever tragedy it may be, we end up talking about "where's the money". Like I always say "It's All About the Money!"
ReplyDeleteRobert, this post could not have come at a better time. As you might know, I'm constantly talking to young men at work place about getting their financial house in order. What I've been stressing lately is the need to be committed. I know there have been a couple guys I've brought to you who have done pretty much what you've advised not to do. I'm going to invite them to "The 3rd Eye" and prey they can be ressurrected. Keep it coming!
ReplyDeleteJames Robinson