“When you’re righteous, you don’t have to tell people that you’re righteous.” – Shaquille O’Neal
I was recently speaking with someone about how they used to do homework with their children. He asked me if I sat with our kids and did homework, and I assured him that our children are scarred from doing math with me. Let’s just say I didn’t have quite enough patience for the task!
But what I did try to instill in our children is the need for hard work and to follow the process. Hard work and following a process regardless of the outcome are values that we should learn early on. In school, children learn that the hard work sometimes needed to come up with the correct answer is more important than the answer itself. While a student may get 100 on a homework assignment by copying someone else’s answers, they are shortchanging themselves by not actually learning the material.
No question that some of our kids were more receptive to this lesson than others. While some believe in working hard, others believe that they have the magic blackjack system and will become financially secure in a week’s vacation in Las Vegas! I’m kidding. In fact, as they have matured, even the blackjack player was spotted studying very hard for weeks for a math matriculation exam.
Torah portion teaches value of righteousness while seeking righteousness
In this week’s Torah portion, Shoftim, we read the famous verse, “Righteousness (Tzedek), righteousness you shall pursue so that you will live and take possession of the land that Hashem, your G-d, gives you.” [Devarim 16:20]. The famous question is asked: why do we need the repetition of the word ‘Righteousness’? Rabbi Yissocher Frand writes, “Rav Elya Meir Bloch interprets that “the pursuit OF righteousness must also be pursued WITH righteousness. ‘ We are not merely being taught to run AFTER justice. We are told to run AFTER justice WITH justice.”
He continues, “Many times we pursue that which is righteous and fair. Our goal is to ensure that what is right prevails. We are often tempted to let the ends justify the means. We may overlook the fact that we have to step on a few laws here and there as long as in the end “righteousness will prevail”.
We know, unfortunately, how many times throughout history the pursuit of justice was carried on with unjust ways. This has caused terrible destruction. The message of our verse is that we may not overlook unscrupulous methods to achieve lofty goals. Righteousness must be pursued WITH righteousness. Achieving Tzedek in any other way is not Tzedek.”
Oh, how relevant this lesson is today, especially regarding certain legal proceedings and the divide they have caused in our nation.
You may be shocked, but this principle applies to personal finance as well. When it comes to investing, you need to trust the process.
Buyer’s remorse not uncommon in investing
Denny Baish of Fort Pitt Capital Group wrote, “In the world of investing, it’s common for some people to experience a bit of buyer’s remorse. Not the kind you get when you make a big Black Friday purchase, but the kind investors might experience during times of market volatility or turmoil.” He gives 3 tips:
1- Trust the process. It’s important to trust your investment strategy and do your best to tune out the talking heads that create fierce headlines and may strike fear or hesitation into an investor.
2- Make decisions when life’s circumstances change, not your emotions. It’s best to make allocation changes based on what’s changing in your life, not your emotions. Some life events that could drive change include retiring, switching careers, expanding your family, or receiving a raise.
3- Ask for help and guidance. Part of having trust in your investment decisions is knowing exactly what they are. A financial advisor can not only help take some of the emotions out of investing, but they can also answer any questions you might have along the way so that you know exactly what you’re investing in and what the strategy is to accomplish your financial goals.
The same principle applies to saving money. Financial success rarely comes from one big decision or a lucky break. It usually comes from doing small things consistently: spending less than you earn, saving regularly, diversifying your investments, and allowing time to work in your favor. There will inevitably be years when markets fall, or unexpected expenses arise. That doesn’t mean the plan has failed. It means that staying disciplined and returning to the process becomes even more important.
Whether it’s studying, our legal system, trying to perfect character traits, or having a secure financial future, don’t get frustrated if you hit some bumps in the road. Remember: following the process is the key to success.
The information contained in this article reflects the opinion of the author and not necessarily the opinion of Portfolio Resources Group, Inc. or its affiliates.
Aaron Katsman is the author of the book Retirement GPS: How to Navigate Your Way to A Secure Financial Future with Global Investing (McGraw-Hill), is a licensed financial professional both in the United States and Israel, and helps people who open investment accounts in the United States. Securities are offered through Portfolio Resources Group, Inc. (www.prginc.net). Member FINRA, SIPC, MSRB, FSI. For more information, call (02) 624-0995, visit www.aaronkatsman.com, or email aaron@lighthousecapital.co.il.
