Staying The Course Through Thick And Thin

Staying The Course

It’s always easy to start something new, but not always easy to stay the course. Starting a new project, a new business or even an investment plan, for that matter, is exciting – you have a vision of where you are headed and you are fired up, motivated and focused.  

Then reality sets in. Excitement gives way to routine and other aspects may start taking priority in your life.  Coupled to this are the inevitable obstacles. Life will challenge us on all fronts, and when it comes to investing, it is no different.

We live in challenging financial times with the cost of living on an ever increasing upward trajectory. Our currency is worth less and less it seems every month, and we just have to work so much harder to maintain a standard of living. It’s easy to give up on tomorrow when your focus is all about making things work today.

Here are some tips on how to stay focused and how to make smart decisions when faced with financial challenges:

  1. Don’t forget why you started the investment – draw up a vision board or write your goals and dreams down somewhere prominent where you can see them. I know of people who have notes stuck to their bathroom mirror or other strategic places, so they can be constantly reminded of what their goals and priorities are. Do what it takes to keep your end goal top of mind.
  2. If you have a genuine financial crisis, such as your business suffering a setback, or you are retrenched, avoid the temptation to cash in your investments. This should be a very last resort as you will battle to make up the growth that you have achieved to date.
  3. If you need to decrease your monthly investment, consider this first –either halve or even further reduce what you are contributing. At worst, stop contributing, but leave the investment to grow.
  4. Select investment vehicles that are flexible and will allow you to make changes and adapt as your life circumstances change. Being locked into an investment for a fixed period, with penalties if you change the terms, is not a good idea at all.

Stay true to yourself and your financial goals – never lose focus and reap the rewards. Remember, there is no substitute for the power of compound growth and to reap the rewards takes time. You can rather invest a little over a long time, than a lot, over a short period of time.

Sylvia Walker
Sylvia Walker is a financial expert, author of ‘smartwoman’ and a financial speaker. As a financial planner, she provides holistic financial solutions for her clients. She writes articles for various online publications and conducts workshops and keynotes on various aspects of money. She has a long history of working with major media in South Africa and is has been the resident financial guru on the Cape Talk Early Breakfast Show since 2016., on  is on air every Friday morning around 5.10am.