Note: this is a re-working of a note I received in email some time ago… it’s not necessarily about money or investing, but rather success in all things. It is particularly applicable to financial matters, I think, as it is critical to maintain confidence in your plans, both in prosperity and adversity.
Confidence is one of your most important success ingredients. With it, you can achieve most anything. Without it, there is no psychological pill that can make you succeed.
Faith is the ability to believe even when you have no reason to. Faith is necessary sometimes to move forward and do something you don’t know if you can do, or when the world around you is telling you that you cannot. This is also when a trusted guide can be useful to help you figure out what is valid and what is not.
Experience gives you the proof you want and need to build future confidence on, and is something you get after you use faith and confidence first to achieve what you want. Experience is developed incrementally – in baby steps at first, with more momentum as you gain more confidence.
It is easy to make grand gains when the greater forces like “the economy” are going in your favor. Those who are truly successful make gains by having faith and confidence in themselves no matter what direction the so-called greater forces around them appear to be going. Short-term “noise” doesn’t bother these folks one bit.
In all things you can benefit by strengthening your confidence and faith in yourself. Seek guidance from others who have the experience that you lack. Look to and recall your past successes as a foundation to build your confidence in yourself and your plans.
Originally posted at https://financialducksinarow.com/1747/have-confidence-in-good-times-and-bad/