Investors; It's Not The Goal, It's The Behavior

 It's Not The Goal, It's The Behavior

by: Brendan Magee

The other day I was listening to an investing commercial on the radio and the man spoke about what they would do for investors. They said if you came into their office you would have a conversation about your goals and then they would help you create a plan to help you reach your financial goals. They stressed the importance of an investor focusing on their goals. 

Goals, no doubt, have their place, but if all you do is focus on your goals, you aren't going to accomplish a thing. The focus needs to be on the behavior. Whether it's dieting and becoming physically fit or investing, the behavior is going to determine what you achieve. Simply getting on a scale for the next 30 days with a goal of losing five pounds isn't going to magically make it so. You better start eating some vegetables and stay away from the ice cream and cookies.

Investing is the same way. Simply looking at your account balance isn't going to make me a millionaire. I better start saving. I better cut down on eating out and running up the credit cards. I better take the time to understand what are the rules for successful investing and start applying them. 

I should probably determine if I am capable or incapable of following those rules on my own. If not, I should employ a coach who will make sure my behavior is consistent with reaching my goals, even when I don't want to. 

Brendan Magee is the founder and president of Inevitable Wealth Coaching. With questions or comments e-mail brendan@coachgee.com or call 610-446-4322.