Audentes Fortuna Iuvat (Fortune Favors the Bold) – Virgil, BC 19. One of my favorite quotes. So much so that it is permanently inked on my arm; Why do I like the saying enough to tattoo it on my forearm? I believe that acting boldly is precisely what has led to me being able retire in under seven years. I think that mantra can help you do the same.
First let me start with what it does not mean. It does not mean fortune favors the brash, the arrogantly confident, or action for the sake of action. I am not advocating jumping into decisions quickly. I am not advocating that you pursue investment opportunities solely in the name of acting boldly. You cannot throw caution into the wind in pursuit of living free. What I am advocating is that you boldly take action predicated on an extremely solid foundation of knowledge and full, accurate analysis of the venture.
There are two main keys to focus on. Knowledge and action. The first – knowledge – is relatively easy, and you should start that journey right now. You don’t need a certain degree, or expensive courses. All the knowledge necessary is attainable through self-education. Read, learn and seek the mentorship of others.
KNOWLEDGE IS NOT POWER
The second part – action – is the real challenge as well as the real power. Knowledge is only potential power. Knowledge will not attract money unless it is organized and intelligently directed towards a definite end. It becomes power only when and if it organized into action. Anyone can educate themselves and acquire the knowledge necessary. Action is what separates the bold from the rest of the masses that will grind away, spending the lion’s share of their lives in the rat race. Most people are not bold enough to act. Wishes don’t get Riches. Riches do not respond to wishes. They only respond to definite plans backed by definite desires through constant persistence.
Once I recognized the path to financial freedom I spent a lot time educating myself on what it would take to reach that goal. I learned how to properly analyze potential investment opportunities. Then I diligently set forth to find the right opportunities. I did not rush things or force action. If there was nothing that met my criteria available at a point in time I would simply continue to search and analyze until I found just the right deal worth pursuing.
BOLDLY TAKING ACTION
When the right opportunity did arise, I would do whatever it took to act upon them. Sometimes according to conventional wisdom it may have seemed that the timing was terrible. Such as times that I just finished a project and had very little cash on hand and had to find creative ways to come up with the cash necessary not only for the down payment but also the remodel costs. However, if it were truly the right opportunity, the timing did not matter. You can’t wait for all of the stars to perfectly align when you think they should be aligned. If a great opportunity with amazing returns presented itself, I would trust in my knowledge and education, and then do whatever it took to make the deal regardless of timing.
Fortune favors the bold. Boldly taking action is what has separated me from others that have the same knowledge. Everything that I have done could be done by anyone with the right knowledge. But how few people are bold enough to take the same actions? Very few. Are you one of them?