Let’s imagine, I had two clients approach me to open investment accounts, within a few months of one another. These two ladies are sisters, and they both had very similar circumstances. Both earned a modest income but lived comfortably below their means. And both had a long-term perspective for the investment of their money. At different times, each of them would tell me that they more or less would try to “forget I even have this money”, so they could let it grow and compound.
Every time I would call them, both would listen to my update on their account, and when I would ask if they had any questions, they’d say, “no, it’s doing what it’s supposed to be doing,” and then they’d calmly move on with their lives.
You cannot describe them as careless. They both are executing precisely on their strategies. But what they both steadfastly refused to do was to interrupt the eighth wonder of the world – compounding interest – unnecessarily. This is precisely what I believe puts investors on the road to wealth.
I feel we can all learn quite a bit from the self-discipline of these two young women.