Determining what is important and what has meaning, and ultimately value, for you as an individual is critical. Especially when it comes to money. There’s only so much that goes around. This is an essential process for shareholders. Savvy shareholders are made, not born. They hone their skills and interests over time and in the trenches.
John D. Rockefeller kept a “book” on each of his children. They all had weekly chores, and they received an allowance based on production and task complexity. He wanted to teach them “the value of a dollar.” According to Forbes he is still considered America’s richest man relative to inflation and cost-of-living indices.
The key is to balance financial priorities and emotional priorities. Ideally, if you love what you do for a living, you will do it well and consequently you will earn a reasonable, good living at the very least.
An essential task for shareholders and investors involves the delicate balancing of emotional, physical, and intellectual needs and demands. Being able to prioritize, establish goals, and delay gratification are all part of the process. “First things first.” Priorities are things we give special attention. If we take ourselves seriously, we will prioritize, and set goals and missions accordingly. Priorities are personal and we need to own them.
Shareholders need to communicate with investor relations specialists of the companies they co-own. They need to set priorities in terms of investment strategy, asset allocation, trading policies, and personal portfolio management. A proactive shareholder is a better shareholder!
To contact Christopher Bayer directly, please email Christopher.Bayer@TheShareholderActivist.com.