Would you agree or not?
Have you ever felt a drop in motivation to actively take care of your investments?
If you are not intrinsically motivated, your default option is usually extrinsic motivation.
That leaves you foraging for carrots (money, rewards, praise, power, status, prizes) proven to have just the opposite effect as intrinsic motivation.
You may experience a burst of energy, but it’s not the kind of energy that promotes creativity, happiness or well-being.
And, it dissipates quickly, leaving you starving for more carrots just to keep going.
Unfortunately, intrinsic motivation driven by our passion is rare. Especially at work. How often during your day do you say, “I’d do this even if I wasn’t getting paid?”
But intrinsic motivation from doing what you love is just one way to be optimally motivated.
If that kind of intrinsic motivation eludes you in the moment, don’t default to extrinsic motivation.
Motivation research proves that doing what you love is a joy, but aligning what you do with important values and a sense of purpose will still generate the positive energy you need to be creative, diligent and productive — and could prove even more meaningful and long-lasting.
So, how are you keeping yourself motivated on your investment journey?
Do you have a strong WHY?
Is it to make more money?
The problem with money is that it usually does not last. It gets either spent or eaten up by inflation.
With enough intrinsic motivation, we will always find ways to replenish our cash.
My notion for a long-term successful investment journey is:
When money isn’t your motivator, you’ll get higher returns.
Focusing on the meaning and impact of our investment “work”, rather than on the financial returns it will bring, might be the best way to improve not only the quality of our investment strategy but also – counterintuitive though it may seem – its financial success.
Don’t allow external incentives to detract your focus on meaningful non-monetary goals.