What do you mean patience and perseverance to wealth?
Because of all my free time I am able to do things others would like to do.
I am a Les Mills Pump instructor; I have just finished my training. I looked out at my class and watched them.
Many of them have been training in the class for years, yet are too scared to increase their weights so they can challenge themselves and their bodies. As we know with Marathons, it is more to do with the mind than it is with the body.
The same can be said with investing, in any market. I have been options trading for a while. I have made some great profits with buying shares, and selling options to my shares. I have made good profits, but this week the markets went down… My shares “tanked”. My option will expire on Friday; the stock that I purchased at $26.00 is now at $16.48.
I was wise enough to put a collar on my shares at $23.00 so I have made a minimal loss, as I Friday I will be able to put those shares to another person, and be paid $23.00 a share, even though the market has said they are $16.48.
Do you know the first thing Monday I will do, yep get back into the market! Most people on a losing trade will run gun-shy, and not invest in the share market till it gets good again… but do you think there are going to be bargains? Bloody oath!
This is the thing you have to learn patience for when the markets go against you! And learn perseverance as you know you have to keep with your course and know you will in the end win in the wealth race to get out of the rat race