When I was younger, my biggest dream was to become a geologist because one of my brother's friends mixed my interests. The way he talks about it and its understanding makes me fall in love with the idea of becoming a geologist, but the older I get, I realize I don't even have a passion for becoming a geologist. So, as time went on and due to my performance in high school, I decided that I would become a biologist, but to call the Long story short, I ended up studying industrial chemistry, which shows how quickly my mind changed.
Humans are adaptable and often change their minds easily. In my country, universities frequently change the courses that students apply for. For instance, a student who applied for medicine might end up receiving an admission letter for biology. Due to our human nature, some people give up on their dreams of becoming a doctor and opt for biology instead, just to adapt to the situation. This type of situation also occurs frequently in finance. As humans, we tend to quickly change our minds because circumstances sometimes force us to do so, and we may not have much of a choice.
Changing our minds makes consistency hard
As a human being, we tend to change all the time. The kind of goals we set 20 years ago differ from those we set now, this is simply because the reality around us warrants it. You might be tempted to save twenty $20,000 yearly, but immediately you lose your job or an unexpected event happens you tend to follow the reality of things by changing some of these plans, but sometimes, we just change simply because we are human beings, and we tend to change over and over again the older we get and this is why consistency is tough. Throughout our lifetime we will change our behavior and character to some extent and also change our many times.
Consistency can be a challenge because humans are prone to changing their minds frequently. Even if someone is advised to change their ways, they may struggle to maintain that change over the long term. This can lead to inconsistency and ultimately a return to old habits. Warren Buffett's unwavering dedication to investing is the key to his success. He has been investing since he was just ten years old and has continued to do so consistently for over 70 years. It takes a tremendous amount of commitment and persistence to stick with the same thing for such a long period of time, and this is what sets Buffett apart from others.
Average people stop so early to rip the benefits
Explaining the concept of compounding and the potential financial gains to people can motivate them to stick with it, even in the initial years. While some may be consistent, others tend to lose focus and redirect their money elsewhere. However, the power of consistency lies in doing one thing every day and learning from it. By remaining focused and steadily building on our efforts, both in terms of time and money, we can achieve tremendous results through compounding.
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Thanks for your time.
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