“Money is like soap, the more you touch it the smaller it gets” Warren Buffet.
Doh! Now I can’t get the image out of my mind of Warren Buffet, lathering up with a bar of soap in one hand whilst extolling his sage investment insights and cautionary tales of financial pornography and its threat to one’s wealth! Help!
Anyway. What’s soap, Warren Buffet and financial pornography got to do about protecting our wealth?
Well let me explain, but first the following are some interesting facts I recently discovered about pornography after googling the search term Interesting facts you don’t know about porn.
“You learn something new every day”.
However in the present business age of niche marketing and trying to best define your point of difference what really grabbed my attention was is this Rule 34, being the rule that pornographic material exists for any conceivable subject.
Furthermore when paralleling this Rule 34 of pornography to today’s financial mass media I discovered both having incredibly close similarities.
Here are just a few to ponder:
The last similarity is an interesting one, especially if making money and keeping it is important to you.
Much has been researched about pornography addition due to its taboo and public interest, however simular anti-social behaviours are easily identifiable of those who maybe struggling with financial pornography addiction.
Consider the following behavioural habits
While you may think the solution is to simply “Stop It!” this going cold turkey approach may prove to have short term financially detrimental and relationship isolating consequences albeit benefits in the long term.
If cold turkey is not your cup of tea then maybe seeking some financial therapy may help, however already aware of having a financial pornography problem is already a huge step in the right direction.
“So what’s the best way forward?” I hear you ask. Here’s a hint. Look to professional sports.
The reason sports professionals and teams have coaches is not because everyone else has one. It’s because coaches hold their stars accountable. Yes great coaches also refine their star’s techniques but by far the most important benefit they provide is accountability in the relationship.
Be it sports, financial, business, spiritual, or relationship success, those who can best manage the purgatory of the plateau also experience more opportunities than those who cannot stay the course.
When it comes to money, the real value of your adviser is the same i.e. accountability. And the results are evidential. How you can increase your chance of success by 85%. The other important benefit is your advisor benchmarking and supporting your progress along your journey to achieving your important goal.
The relationship you have with your financial advisor it’s not about the next hot thing or keeping up with the Jones’s. It’s about you, what’s important to you and giving a higher probability of success for you achieving this, keeping you focused and avoiding low value distractions.
However if you enjoy playing with your soap (money) and touching it (money) is important to you, then please don’t get yourself into a lather when you find it’s disappeared down the drain, you’ve only got yourself to blame.
If you are stuck in a funk or you’re lost in a cloud of complexity feel free to contact me. Most often in life we just need someone to talk things through. The following article may also be of help.
From Little Things Big Things Grow
Finding Your Sweet Spot
Are You A Fearessional?
Keep It Simple
About Peter Horsfield
Peter Horsfield in an Authorised Representative and Investsure Holdings Pty Ltd ABN 16 050 286 630 as trustee for Horsfield Family Trust ABN 55 609 068 513 is a Corporate Authorised Representative of Infocus Securities Australia Pty Ltd ABN 47 097 797 049 AFSL and Australian Credit Licence No. 236523