Several years ago, I was having a conversation with a local bank manager discussing investor psychology and client relationships. He talked about the different types of people he had encountered in his career and found that his richest client, a retired dairy farmer, typified as the most successful.
This dairy farmer was 80 or 90 years old at the time. All throughout his life, he took a portion of his farm’s cash flow to invest in stocks of high quality companies including blue chip stocks. He would take time to understand the markets and made this a hobby of his with the hopes of creating passive income for when he was just not able to dairy farm any more. He would reinvest his profits and work his investments as diligently he did his dairy farm coming into the bank frequently to transfer funds into his broker account. Approximately 30 or 40 years ago, he sold the business related to his dairy farm and came in with a substantial sum of cash. He had specific instructions for how he wanted it invested, including the fact he now wished to live on part of the passive income generated by his stock and bond holdings.
“It didn’t matter what I said to the farmer” said the banker as he tried to dissuade the farmer from investing at certain times.” If there was a world war, recession, stock market crash, a runaway inflation rate, or natural disaster, my client knows what he owns, he knows why he owns it, and our job is simply to handle some of the estate concerns and execute the trades he has told us to follow over the years.”
What I enjoyed most about the story was the fact that the farmer still lived in the same tiny farm house he had resided in for most of his life, he drove the same pickup truck that he loved, and no one except his wife had a clue he was worth tens of millions of dollars – not even his children. This man apparently loved the process of investing and, if I recall correctly, was planning on leaving most of his fortune to charity.
Other Farmers Reaping the Rewards
Don and his family enjoyed farming and the community they lived in but like the dairy farmer were looking to alternate ways of supplementing their income. At the time, Don was giving most of his money to others to manage and was not seeing his expectations met. He tried to work with these advisors to improve his returns and only ended up paying more in fees then he earned in returns. He needed to self-direct successfully like the dairy farmer.
“There is a huge gap in what individuals were seeing in returns and what these advisers were realizing”, states Don. He tried to manage is own approach to self-directed investing of his funds and saw limited success. With a focus to learning what the advisors do, he began searching and attended a seminar on self-directed investing in the stock market. This company focuses on providing a completely guided and seasoned approach to investing, much like advisors, but the client completes the actual trades and makes the return. The company receives a low-cost monthly membership fee for providing a completely expert-driven system to entering and exiting the markets on select stocks.
10-20 minutes a day is what Don requires at a time convenient to him (day/evening) to analyze these opportunities and buy them through his online broker. This process provides freedom for Don, as he doesn’t need to be at his computer when buying or selling these opportunities, there are triggers that automatically complete these functions for him.
“Knowledge is the key to success and it is important to keep things simple. Taking baby steps when you begin and most important to making a commitment to learn”, states Don. He knows how important following disciplines are and sticks to what the experts provide following their direction to the letter to achieve the successes he is now seeing.
Don realizes double-digit monthly returns following the IdealTradingLifeStyle fully guided approach to self-directed investing. “It is far riskier for me to farm today than it is to invest, following the skills I have learned”, states Don.
So it really doesn’t matter what type of farmer you are, there is a theme here that points to smart money management and acquiring knowledge to doing the things you might not think you can. Like the dairy farmer, no one could tell him what to do as he figured it out early on how to build alternate income. Don, on the other hand tried and found he needed to look to the experts in providing the information for him to act on. Both have achieved huge success that has allowed them to realize their financial goals. Which farmer are you? Take the first step by contacting us direct at http://www.idealtradinglifestyle.com.