Charlie Munger says,” Envy is a really stupid sin because it’s the only one you could never possibly have any fun at. There’s a lot of pain and no fun.” The root of this evil is when we make comparisons in life, investing and everywhere. Brian Halim’s post mentioned “They should never this as the wrong smell of envy because that’s not the whole intention and neither would it benefit them in any way if they choose to think it that way.” There’s a lot of wisdom in this.
The grass is always greener on the other side, especially when you look at someone’s portfolio. I was reading thumbtackinvestor’s post and you will realize this guy is a money making machine and very smart in deploying his asset. I will at times, cannot help it but envy at how these bloggers are growing their portfolios while I am suffering draw down in my portfolio. With envious eyes, I curse my own decision and vow for better success in my investing journey.
I reflected on my own portfolio and trying to find justification to my decision when I constructed it. I remind myself to have the discipline in investing, continuously save more to put into investment, maintain the course and align decision with the long term financial goal which is to achieve financial freedom by 40 years old. To be an objective investor will become difficult if you become a competitor.
I was reading this book “Stop Acting Rich and Start Living like a Real Millionaire” by Thomas J. Stanley. There is a point that most millionaires are quite consistent when it comes to the price for the items they purchase, they spend moderately and will not get one noticed or envied by strangers on the street. They do not buy things to impress strangers. There was a stage in my life when I was in my early 30, I was envious of people driving expensive cars and wearing expensive watches. That’s when I bought Rolex watches and realized how expensive it was to maintain them. I grew out of my envy and cut loss on mechanical stuff which requires maintenance expenses.
This is your personal financial journey and not someone else. The decisions you make shall be unique to your financial goals and should not be influenced by others.