Updated: Aug 25, 2021
My mentor once told me:
"Having a mentor is like playing a game with cheat codes on."
Their is a pair of identical twin, Jack and John. They're so similar to each other in terms of ability and intellect. However, when it comes to learning how to invest, they took a different path.
John, the older brother who love experience and like to be hands on, took the path of learning to become an investor by reading many books and trail by error.
He read about 20 books about investing, and then start experimenting with real cash. He took some losses, but he learned from his mistakes.
After 3 years, and losing $20,000 in the stock market, he finally start making some good returns.
Jack on the other hand doesn't like to read, and he wanted to learn to invest quickly. He took the path of finding a investing mentor.
As a younger brother, he doesn't like to take challenges too much, and often use cheat codes when he plays video game.
When it comes to investing, he still like to take a path of less challenges.
He looked for a mentor who is experienced in the field of investing, had a solid record of successes, and seems to know everything about investing. However, it takes $5,000 of coaching fee.
Jack, realizing the value there is for having a mentor, started training under an investing coach.
Just 1 year, and $1,000 losses later, he figured out how to invest in the stock market...
If you have a choice, who would you rather be?
I took the hard road of John and loss $60,000 in the stock market before I found my mentor, and finally start making a profit.
I was in both situation of John and Jack, and I know from experience, having a mentor is way better than trail & error.
Your mentor can help you predict the road blocks, and avoid it before it becomes a problem. Instead of running into the road blocks, injured, and then patch up your wounds and move on.
A good mentor will set up a system of habits, if you follow it correctly, you'll become who you wanted to be...