Good morning. Good afternoon. Good evening. This is Jonathan Satovsky of Satovsky Asset Management. And on this episode of Seeking Wisdom, Wealth, and Wellness from wherever you are in the world, I wanted to talk about the idea of habits.
It’s interesting, I’ve recently met some people that have sold their businesses, that have had liquidity events and/or have had big distributions from sales of individual concentrated stock or equity. And it’s amazing that it doesn’t matter whether you have $100,000 or a hundred million dollars, the paralysis, the anxiety, and the fears that are evoked when you have to transition from something that was to something new causes angst for people to actually act.
I had a conversation with someone that’s running digital technology for robo-advisors, getting people to save and invest. And they said the most difficult thing is motivating people into good behavior, motivating people into action to get them to save and invest, and being disciplined about saving and investing. And it is the same whether someone has $100,000 or $100,000,000, I assure you. How do we motivate people to understand the process? How do teams win the national title in football or in sports?
Following a process that they can do in a disciplined, consistent way. And I’ll leave you with the last note, which I love – the concept of the behavioral gap. If someone can trust the process and believe in the concept of perpetually and systematically believing in the future, investing for the long term, buying the most profitable businesses, and leaning toward just confident process, you will solve the behavioral gap for yourself, your loved ones, and for multiple generations fearlessly on your path to Wisdom, Wealth, and Wellness.
Consider that rather than getting caught up in the headline news of fear and anxiety on your path to Wisdom, Wealth, and Wellness.
Have a great day.