While undergoing financial literacy coaching in February 2008, my mentor taught me a lesson that I understood vaguely until recently when I went through the real experience.
I was then comfortable in the pocket, thanks to my employers who paid me well and on time.
Coach Paul taught me that a
crisis compresses many lessons you would have learnt in many years and
delivers them to you at once.
This, he explained, is the reason
a crisis helps those whose minds were ready for it to rediscover
themselves, but also destroy in equal measure those who had not been
mentally prepared for it by their past life.
He intended to prepare my mind to
accept that moving out of regular job will only introduce me to a sharp
financial crisis, and that I will learn rather than die.
I had to go through a year without regular income to appreciate the meaning of the lessons a crisis carries.
For example, I quickly lost interest in working for pay as I had done for over 13 years.
I later registered for the
chartered financial analysts classes, spent 16 months studying
investment analysis and management, and then took up a job in local
investment advisory business.
By the start of 2008, I was
mentally retired and no longer able to take instructions I considered
ill informed — contrary to the rules of succeeding in employment.
I did not recognise immediately
that during my coaching lessons, I had set forth my attitudes for the
first steps into a journey of faith padded with many crisis.
In business and investing,
contrary to formal and self employment, you learn more about how to
succeed from your failures than from the so-called success, because in
this other world of wealth, you must be willing to create experiences.
Like Carnegie told Napoleon Hill,
you “will discover that the cause of success is not something separate
and apart from the man; that it is a force so intangible in nature and
that a majority of men never recognise it.”
When man will come to recognise
that successful investing starts with preparing the mind for success,
poverty will disappear from the list of global concerns.
By Patrick Wameyo
He is a financial literacy educator and coach
By Patrick Wameyo
He is a financial literacy educator and coach