Detail management for investment wealth building

How wealth-builders manage details Superior investors build wealth faster by managing details and costs well. In fact, managing details well is an essential management skill for investors that want higher returns. When well managed, details lower costs giving investors an immediate bottom line impact.

Core Content 

How wealth-builders manage details

The How wealth-builders manage details lesson  name here shares teaches or gives first paragraph of lesson content 

, successful investors realize faster wealth growth. Details touch every part of investing including thoughts, feelings, personal tendencies, attitudes and the facts! Details affect all parts of the investment process of learning, thinking, doing, reviewing and repeating as we continue to grow in investment skill.

Better investors control risk, manage details and control behavior. High return detail management skills give superior investors better results.

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First learn: increase investment knowledge to increase returns. 

Second plan: develop goals and a plan with a very long view. 

Third manage: cost and detail controls produce instant improvements.

Fourth lifestyle:  

Fifth behavior: 

For details and much more discussion, see the lesson.

many more act and do the same. investor actions rank among the most important investment success factors.

 == investment success consider the importance of investor behavior  and seriouslyfast and permanent return improvements. they work on growing their returns. Investors make a plan that takes a very long view. Fast and permanent return improvements can be realized from cost control and detail management. They pay attention to excellent cost control and detail management for quick and easy performance gains. can improve returns with raise the

  growing ts you know how your the choices that of the best ways to maximize your wealth growth.  decide d choose the best ways to increase your to produce decisions have the greatest lifetime impact on investment results.  take a serious look at your lifestyle and goals 

Winners win.

Let your winners run.

Behavior: have a plan, routine process, don’t pay too much! Stuff happens, markets go, up down and sideways , cash is OK

Wealth building has a well worn path anyone can choose to travel. Doing it faster means doing more sooner. The five time tested pillars of wealth building include: 

First: ditch the debt, 

Second: build an emergency fund, 

Third: manage costs,

Fourth: increase income,

Fifth: invest.

Details and more discussion are included in the lesson.

. To do it  faster just do more faster. Ditch debt, emergency fund, cost manage (stop spending) seek higher or more income streams, invest . Increase the difference between income and outgo, save the difference (invest). Get more income (pay raise) better paying job, side hustles and gigs. Make more than you spend and invest the difference well, make your daily habits contributors to your wealth rather than take away from your future

Knowledgeable and informed investors can manage behavior well. They know the effects of both market and psychological pressures can produce bad investor behavior. To avoid those bad behaviors, these investors use a mix of knowledge, education and training. Those with the best outcome, include investor brain training to develop an investor mind. That investor mind knows investment behavior management which opens the way to superior investor success. 

The knowledge and skills of superior investors include investor behavior management. with the best behavior control The process can develop into an investor mind. knowledge and 

The best wealth building team has 8 players:

 1. Plan your wealth building investment lifetime by researching and developing your financial literacy and knowledge of investing. Then follow and continually develop and expand the plan as needed.

 2. Budget, every detail of your income, spending and investing.

 3. Manage debt, every detail of any debt. Eliminate by paying off high cost (interest) bad debt as fast as possible and minimize good debt. Bad debts are for things consumed or that decline in value. Good debts acquire things that rise in value.   

 4. Emergency Fund, build a cash reserve equal to 6 months living expenses. Use it for nothing except in an emergency.

 5. Invest the maximum amount you can as quickly as you can for as long as you can. Invest the needed time and effort to learn about investment research, investments and managing investments. 

 6. Cost management of every single cost directly impacts the ability to build wealth. Lower all costs and work to keep any cost as low as possible. Developing the lowest possible total cost.

 7. Income management means to increase (negotiate) higher income and as many income streams possible to provide the highest possible total income. 

 8. Lifestyle management controls every aspect of living from income, expenditure and investing. Maximize income, minimize costs and invest the difference. Be aware and guard against any cost of a creeping lifestyle. The costs of lifestyle creep takes from the future because those funds are never available to invest. Make informed choices with care. 

Investor mind tour has five stops:

1. Ego behavior
2. Fear and greed management
3. Regret and regrettable unforgettable lessons
4. Realistic, positives & uncertainty
5. Imagination and details open possibility
   

Managed details have bottom line impact only beat by cost control

Are you conscientious? Do details matter? Know your answer to that question. That is the point. There is no right or wrong. Just your answer matters. Conscientious people mind details.

Usually well-organized and through, the conscientious make plans. They follow their plans. But there can be a downside. Such people can miss opportunities. They can be too conservative and avoid even reasonable risk. That can be to their loss. The conscientious can pair such a miss with our teaching emotion, regret. That can hurt both their personal and portfolio growth.

Are you patient or nervous? Do you have risk issues? Can you handle stress, can you take a chance? Are you a conservative or aggressive investor? Are you something between? If your portfolio drops 10% this month, what would you do?

No right answer. Except your answer. That is the point. For your benefit and stock market success you must know your stock market self.

Summary points Part III thinking, feeling and acting

• Control thoughts, feelings and behavior
• Train yourself to manage your mind
• That creates your psychological edge
• Psychology issues are the greatest investor risk
• Psychology risks can be learned and controlled
• Ego presents the biggest challenge needing control
• Successful investors concentrate on improving performance
• Investors must manage the relatives, fear and greed
• Successful investors learn to use fear and greed as allies
• Recognize when fear gets used against you
• Regret teaches well but we must sort the lessons
• Realistic, positives & uncertainty are in the mix
• Imagination helps mature investors see more
• Details matter and need management
• Change is normal, forever and here
• Learn, think, do, review and repeat opens the door

Lesson Takeaway:
How wealth-builders manage details

Now, it’s your turn to apply the lesson:
How wealth-builders manage details

Apply the new wealth building knowledge at your own pace. Taking the time you need to understand the lesson, helps you master the material. Then you can apply what you learned to take another step in your development as a superior investor. Have a prosperous day!

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