We all want to be rich. And if this ‘being rich’ comes from the stock markets, there is nothing like it. Its glamorous… Imagine being able to tell everyone that you are rich and you don’t need to go to office anymore. And its because you are rich (now) thanks to your great stock picks. Seductive…right?
But unless and until you are a superhuman trader who can pick the correct stock on a daily basis, its almost impossible to become rich enough, overnight. This is assuming you had to start from Zero. Then there is this risk of using leverage in stock markets.
But this post is more about a very simple, but difficult to answer question which was posted by Seth Godin in one of his recent short posts (link).
Though post is more general and not specific to money, it still is applicable to our world of investing.
And I quote what Godin writes…
A simple question with an answer that’s difficult to embrace.
What are you willing to give up today in exchange for something better tomorrow? Next week? In ten years?
Your long term is not the sum of your short terms.
I was quite impressed and more importantly, unsettled by this question. Read it a few times and you might experience what I did. Do let me know if you have any thoughts on this…