If you ask even the most successful investors about their biggest achievements, they will probably take deep breath, ponder and struggle to come up an answer. If they do answer it is almost always qualified by statements like “it did not turn out the way I wanted” or “ It went OK but I wanted more.”
Their mistakes far out weigh their achievements and they happily share both. They know, what beginners investors don't, that we must all fail sometimes. While it is true that our present financial situation has been created by our past actions, it does not have to predict the future. For every successful business venture there are a hundred projects, investments, and deals which just did not work out well. Just because you stumble, and even fall does not mean you can not be a successful investor or make your family's financial future stable.
Everyone must make mistakes. If you decide to invest you have to be prepared that sometimes you will lose money. at the end of the day you have to hope that you made more than you lost. For example some businesses actually build 'mistake' money in their annual budgets. 'Mistake' money is usually around 20% of their annual budget. This gives them the freedom to be a little risky, experiment and get their feet wet in new territories. A new investor can learn a great deal from this type of company philosophy.
When building an investment portfolio and settling on a financial path make sure you factor in loss. Allow yourself the ability to make mistakes and learn from them. A common beginner mistake, for investors, is when they do suffer a loss it is so painful and disappointing that they are blinded by it. They stagnate, never being able to move past the mistake. This disappointment can taint any future investment decisions.
The best thing you can do is acknowledge that your past actions have created your present situation. Which may or may not be ideal. Learn from the mistakes you have made and then move on. The past must remain in the past. Do not let past mistakes determine your future. Just let it go. Take notice of what you did wrong and what you did right then clear your mind. There is always hope for the future. Remember, you are in charge of your destiny, and past does not have to predict the future.
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