There is a risk/reward tradeoff to everything. As you move from any phase to another you will have to make decisions that could expose you to avoidable risk in exchange for possible gain. Understanding the risks and planning ahead could help you more confidently evaluate your options and be at peace with the outcome of whatever you choose.

… there is a notable difference between planning and preparing. In practice, planning is a one-dimensional task where we outline what we want to do and what we will do to get there. Whereas preparation is multi-dimensional; it demands action and readies our minds to encounter possibilities along the way.

By my estimation the number one misstep people make when starting a business or venture is unrealistic financial projections.

Discipline is such a simple practice, yet it challenges so many of us as it clashes with our tendencies. But if we can master this one thing - at least - I believe we’d overcome more than half the battle of reaching our goals.

While the transaction of investing in the market looks exactly the same as the transaction of gambling in the market, there are clear differences in the two acts evidenced by what leads up to the transaction. I’ll give an example.

One of the main things people worry about is money. Those who don’t have money worry about not having it and those who have money worry about keeping it. We dwell on our past money mistakes, ponder over our current money woes and fret over our future money needs. We secure our money, protect our money and preserve our money. Indubitably, society would have us think that money is the be- all- end- all, and many of us believe that to be true.