More and more of us are opting to follow our passions when we invest. This year, high-income families will place 22% of their assets in alternative investments, according to Capgemini and Merrill Lynch, up from 10% in 2002.
How do you invest?
It seems some of us feel an increasing need to connect emotionally with the things in which we investment our money.
It also makes good sense.
If you have a passion for the things in which you invest you are also much more likely to go deep with your research and also much more likely to pay careful attention to the balance and mix of your portfolio over time.
Passion is key to success
Passion is one of the fundamental keys to success. I was watching an interview with Christina Aguilera on the weekend and something she said stood out.. here you have a performer worth in excess of $60Million, just coming off one of the all time successful records.. and her comment was “You have to stay hungry”.
Finding those things that really drive us.. whether they are the good things that success and achievement will bring.. or whether success is the by-product that will come of investing ourselves deeply in our passions. The same line holds true.
Passion remains one of the fundamentals to success. If not the actual foundation itself. I remember the equation I was taught growing up that success = ability x effort. And the emphasis was always on the fact it was a multiplication sign (rather than a plus sign).
So, if you had 10 out of 10 for ability and 0 effort your results were going to be 0. But, if your effort was something, any ability was going to produce a result.
Passion in Investing
The same principles apply to any task. Investing included. If you have passion for your investments you will have a good chance of success. (At least one side of the equation will have some numbers on it)
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