Dear Violet, Mia, Noelle, Charlie, Henry and George,
Proverbs 4:7 (ESV) – “The beginning of wisdom is this: Get wisdom, and whatever you get, get insight.”
Proverbs 16:32 (ESV) – “Whoever is slow to anger is better than the mighty, and he who rules his spirit (is patient and self-controlled) than he who takes a city.”
The two things you want to have on your list of “I must have this” are wisdom and patience. Get wisdom first and don’t let go of it. Sometimes the best wise thing you can do is wait. That is true when it comes to investing and in understanding how to get along with others. Don’t be in a rush. Get counsel and gain wisdom and understanding.
What is Wisdom? Wisdom is the ability to take knowledge and make good decisions for the present and for the future. Some people have a lot of education and know a lot of things, but that doesn’t translate into wise living. A wise person can use knowledge to make good decisions and to act in ways that are good. Sometimes we call this “common sense.” It means you are perceptive and judge carefully. A wise person knows that what they sow they will reap. Therefore, what you sow in your life really does matter.
What is Patience? Patience is the ability to wait. It is allowing God to work in ways that will bring about great good. Far too many times we hurt others and ourselves when we lack patience. A patient investor does not want to get rich quick and does not let the panic of others change his or her plan.
Impatient and unwise investors often buy investments that look good on the surface. But far too often those investments are bad ones. I can tell you from personal experience that it is possible to lose an entire investment. At least three of my investments were worth nothing. Those are expensive mistakes. Be wise and be growing in patience.
Love, Grandpa Winquist
I belong to the “Fidelity Investment Community.” Sometimes some good advice appears in a discussion. The “7 best investment advice’s for beginning investors” appears in this picture. Note patience and self-control are included with discipline. Both are wise.