Instant gratification

Nobody may admit but we all suffer from a disease called 'instant gratification'. We hate it when we do not get instant delivery of our TV, our car, or our food order. No wonder instant coffee is such a hit among coffee drinkers and instant food is big business. When it comes to personal finance, instant profits are what the heart yearns for. Hence the one-year return sells the most even though it is a faulty strategy.

Patience is the winning strategy but is detested by most. We want to instantly be rich, good-looking, grow tall, and so on.

It takes determination to find success. It takes years of practice to become a master, years of exercise to get your body into shape, and years of studies to sharpen the mind. Similarly, it will take years of SIP to grow your wealth.

The problem is doing repetitive things for years together is boring requiring loads of determination.

Every morning I find it difficult to muster the determination to go for a swim even though it is a daily routine.

Just like entering a pool requires determination initially, SIP investing may feel boring and lack instant gratification, but with time it becomes effortless and rewarding, overcoming the initial doubts and thoughts of discontinuation. But those who can cross this phase will soon start experiencing the autopilot feeling. Over some time when the wealth starts to show up you just want to go on and on.

The disease is 'instant gratification' and the remedy is willpower and behavior change that needs to be sustained. The result is beautiful for those who have the power to go on and on without flinching.

An advisor can guide you, show the way, and encourage you but it is you who has to make it happen with grit and determination.

Name: Praful Patil Firm Name: PATIL INVESTMENTS Mobile: 9833473537 Email: praful@patilinvestments.co.in