07/16/2026
There are a few key principles I preach religiously when discussing investing and building wealth: consistency, discipline, and patience.
Like most people, I struggle with all three in certain areas of my life. When it comes to investing, it has taken me years to develop these skills, and I'm still working to improve them every day. Investing can be highly emotional, and I find that all three of these principles are tested constantly. Let's briefly discuss each one.
Consistency:
During the accumulation phase of life, consistency is critical. Be consistent with your investment contributions and intentional about managing your cash flow. Don't rely solely on investment performance to build wealth.
Investment returns of 10%+ are not guaranteed. Just look at the S&P 500's performance from 2000 to 2012 for proof. I've met plenty of individuals who have accumulated significant wealth despite having portfolios with below average historical returns. The common denominator wasn't extraordinary investment performance. It was consistent contributions and strong cash flow management.
If your car payment is larger than your monthly investment contribution, it may be worth evaluating your priorities. Make investing a habit and make contributions a priority.
Discipline:
Remain disciplined with your investment strategy as long as your goals, needs, and circumstances haven't changed.
Unfortunately, market volatility is the price of admission for participating in the markets. While volatility can be uncomfortable, it typically isn't a reason to abandon a well-thought-out investment plan.
Market swings make all of us question our strategy, myself included. It's human nature to want to protect ourselves. Many investors feel compelled to make changes simply to ease their emotions, but disciplined investors are often the ones who come out ahead over the long run.
In short, don't abandon a strategy you've believed in for years because of market volatility, short-term underperformance, or an intriguing investment idea you came across on social media. This is what I call "chasing returns." It's one of the primary reasons some investors struggle to achieve long-term success and are rarely satisfied with their results.
Patience:
This may be the hardest principle of all.
Building wealth is usually a long, slow, and often boring process. The difficult periods test our emotions, and emotions frequently lead to poor decisions.
Here's a secret: there's always a better investment strategy when you're looking in the rearview mirror. Hindsight makes everything seem obvious.
We're inundated with information, opinions, headlines, and market predictions every single day. It's easy to get distracted. Stay patient. Focus on the long term. More often than not, good things happen when you give a sound strategy enough time to work.
Consistency, discipline, and patience aren't flashy. They won't make headlines or go viral on social media. But in my experience, they're three of the most important ingredients for long-term investing success.
