The Investor's Advocate: Will Power

Why Purpose Driven Investing Should Be Added to Your Investment Strategies

Can the power of purpose be used to help you to grow your investment portfolio? And if so, to what extent? To find answers to these questions, you should read an interesting post from Anthony Rhodes, the owner of wealth management firm The Planning Perspective (www.theplanningperspective.com) called "Profit Motive" (https://www.howtoinvestblog.net/2020/09/profit-motive.html ) . This is a recent addition to his popular How To Invest blog (www.howtoinvestblog.net ).

"Purpose has power." he began. "Everything that we see around us-from buildings to automobiles, to electronic devices-all originated from a founding purpose." he added. "And it is this idea which provided a basis for the article. I wanted to tap into this internal will power, and use it to drive home the message that, if properly implemented, it could be directed towards becoming a successful investing tactic." he added.

Within the post, Mr. Rhodes provides examples of how will power has played important roles in the lives of successful individuals. "Nothing worthwhile is ever accomplished without first developing a clear, precise motivation for achieving it." he explained. "This goes far beyond a simple generalization of success, but delves into the importance of specification." he continued. "Without this element, we miss out on the opportunity to direct all of our mental faculties towards the goal, which is essential to achieving its success." he concluded.

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