“Get over the need to be looking for something all the time that excites you, and just get committed to doing what you know you’re supposed to do whether you feel like it or you don’t feel like it, whether it’s convenient or it’s inconvenient.”
–Joyce Meyer
In this short clip, Joyce Meyer preaches about the importance of not depending on the fleeting thrills of excitement and instead recommends to find lasting fulfillment though commitment. She uses marriage as an illustration. Meyer argues that some marriages suffer because, “as soon as the goosebumps are gone, and the excitement’s gone, and their heart doesn’t pound anymore, they’re looking for another new thrill.” For a marriage to succeed, “you gotta have faithfulness, commitment, and that’s what you signed up for at the alter,” she concludes.
Meyer’s advice is applicable beyond marriage. After I listened to her message, I thought about investing. There are myriad investment strategies and many involve the excitement of trading in and out of positions and incessantly monitoring and acting on endless sources of everchanging information. They require constantly “looking for another new thrill,” a lot of anxiety, and, sometimes, heartache. There is another way.
Instead of chasing the thrills of the latest trade, these days most of my investing involves a commitment to habitually invest in quality assets over time. This process is not exciting, but there is plentiful evidence that it works. Literature and data from and about Warren Buffet, Charlie Munger, Jack Bogle, and countless lesser known investors illuminates how slow and steady can win the race.
From time to time, I open a future value calculator, play with the variables such as rate of return, number of years, payment frequency, and payment amount to consider how dollar cost averaging, time, compounding, and automation can bless me and my family. Now, all I need to do is adhere to what God is telling me through Joyce Meyer:
Get over the need to be looking for something all the time that excites you.
I don’t need to do fancy trading, frequently trade, buy into hype or make high risk bets.
Get committed to doing what you know you’re supposed to do.
I need to invest habitually in quality assets over time.
Whether you feel like it or you don’t feel like it.
Much of my investing must be automatic and the funds difficult to access. Thus, even if I’d rather use the money elsewhere, I can’t.
Whether it’s convenient or it’s inconvenient.
Investing new money every few weeks requires near-term sacrifice, but that inconvenience must be set aside for long-term security.
…
I am committed.
…
With Love,
P. Gustav Mueller, author of The Present