I readily admit… I am not the most patient man in the world. I’m just not programmed to wait or sit still. I don’t even like to sit still for long in my favorite coffee shop or the comfort of my own home. My wife, friends, and colleagues can all attest to my tendency to get fidgety!
However, while I can get antsy in waiting rooms, long lines, and on the wrong end of the “hold” button, I somehow have great patience in other areas. Ever since I was a young man, I have wholeheartedly bought into the philosophy of “slow and steady wins the race.” And throughout my life, I have found this to be absolutely true.
As a young man I put in the hours, days, weeks, months, and years to learn and practice classical and flamenco guitar. As a result of that patience and steadfast commitment, I was later able to put that skill and knowledge to use by teaching guitar lessons and earning enough to put myself through college and graduate school.
A few years after graduating, I began investing in real estate. Like many other wise and patient investors, by renting out those properties I essentially let other people pay for them. It was a decades-long commitment, but the ROI can now be measured in millions.
Whether it is musical discipline, higher education, or real estate investments, throughout my life I have repeatedly made the choice to make commitments that might take a lot of time, but that I know will pay huge dividends in the long term. As tempting as they might be, I don’t take any shortcuts or try any “get rich quick” schemes. I believe in and am committed to the philosophy that “slow and steady wins the race.”
That commitment has truly paid off, not only enabling me to lead a long and fulfilling career, but now, decades later, to really enjoy the fruits of my labor. As I reflect on the decisions I’ve made and how I have benefited from that philosophy of steadfast patience, I can’t help but wish the same for younger generations. I fear that in this day and age of instant gratification—whether it’s Netflix movies, Google search results, Keurig coffee, Apple Pay, Amazon two-day shipping, or Healthy Choice microwave dinners—the commitment to “slow and steady” may be fading.
With everything seemingly at our fingertips in an instant, it is getting harder and harder to patiently wait for long-term returns. As our impatience grows with crowded express lanes, free WiFi that’s “too slow,” and fast food restaurants without a drive-thru, I’m afraid our commitment to long-term investments will begin to deteriorate.
Finance expert Dave Ramsey recounts how he once asked a billionaire what his favorite business book was:
“When I asked him to recommend a business title, I was not prepared for his response: ‘Aesop’s Fable: The Tortoise and the Hare,’ he said. ‘Every time I read it, the tortoise wins.’”
While humorous and a little elementary, his response is very true. In every reading of that famous children’s tale, the tortoise always wins. Slow and steady really does win the race.
To truly achieve greater success, choose to be the tortoise, not the hare. Make the commitment today to live by the philosophy, “slow and steady wins the race.” I am living proof—it pays to be the tortoise!
Dan,
Not a truer tale. Slow and Steady. You can look back at so many success stories that have taken that approach, and then on the flip-side, you can see so many “get rich quick” horror stories, or people that “just can’t wait to get married”, or take the short cut in life that I hate to see, over and over, where a young adult forgoes getting an education to get a job because it pays well right now. Many look back years later with such regret.
Great post! Hope this find you doing well my friend.
Thank you sir. Always great to hear from you Jeff. Hope all is well with you.