I believe everybody needs a money coach in some form or another. Your money coach can be your spouse, parent, best friend, sibling, or mentor. He or she just needs to be a little bit more experienced and financially savvier than you. If not, she needs to at least be a good listener so they can reflect back on your blind spots.
Despite giving plenty of 1X1 financial consulting sessions myself, I’ve never had my own money coaching session. I view the entire Financial Samurai community as a great platform to discuss various issues. Some things I’ve learned from all of you are:
- All talk, no action doesn’t inspire change. Telling people to do something doesn’t work as well as showing people through my own actions, e.g. posting 3X a week for eight years in a row, responding to comments at 5:30am, deploying capital based on my investment thesis, working towards my passive income goals, trying and failing all the time, etc.
- Producing quality content without self-promotion actually works. I’ve often wondered whether it’s possible to build a brand without being a public figure. Is valuing my privacy holding me back from maximizing my potential? Probably, but this site has grown every year since its founding in 2009, so I’m pleased with the progress.
- Being a minority does not impede me from getting ahead in America. I came to America as a freshman in high school after spending the previous 13 years living in Asia plus one year in Zambia. Going from being a majority to a minority was sometimes a difficult transition. I highly recommend giving it a try one day. You’ll build a lot of grit.