The key to attaining financial freedom is not a magical secret, but a simple principle you’ve heard since childhood – consistency. 

Although it sounds simple enough, keeping a steady and disciplined approach to your financial decisions isn’t always easy, especially when the news cycle is brimming with reasons to trade now instead of invest long term. 

However, two big reasons to remain consistent are the added bonus of compound interest and the fact you alone wield the power to control your financial outcomes. Using a written budget and investment strategies that match your long-term financial goals will help make consistency more achievable. 

In this episode, John highlights the power of consistency and how your financial decisions influence your success or failure. 

In this episode, you’ll also hear:

  • Understanding financial success doesn’t happen overnight
  • A systematic approach to investing 
  • Main differences between traders vs. investors 

Must-listen moments: 

[00:02:12] Approaching your finances in a hot or cold fashion will slow your progress versus staying focused and disciplined toward the goals you’ve set for yourself.

[00:03:27] When you’re spending money on something that you enjoy but that others may see as frivolous, there’s nothing wrong with that, as long as it was properly accounted for within the budget.

[00:07:47] To do this with your investments, you have to develop a steady temperament where you don’t get worked up by the news of the day or the internet clickbait that you encounter.

 

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Disclosure: The preceding program is sponsored by Fourth Avenue Financial, which is solely responsible for its content. Securities offered through J.W. Cole Financial Member FINRA SIPC, Investment advice offered through J.W. Cole Advisors. Fourth Avenue Financial, J.W. Cole Financial, and J.W. Cole Advisors are unaffiliated entities. The opinions expressed by John K. Burdette II should not be construed as specific investment, legal, or tax advice. All economic and performance information is historical and not indicative of future results. Investing may involve the risk of loss of principal. Any Tax advice on this show is not intended to be used by any person for the purpose of avoiding US federal or state tax penalties that may be imposed on such a person, and each listener should seek advice from their tax advisor or legal counsel on topics that arise from the show. John K. Burdette II is not providing legal or tax advice. Nothing should be construed as solicitation of an offer to buy securities.