Seth Godin writes about short term focus. He says
“Why is there so much short-term hustle? Because that’s what we buy.
Why is there so much negative campaigning? Because that’s what changes our actions.
Why is social media filled with manipulation and vanity? Because that’s what we click on.
We buy foods that are engineered to make us fat and we watch shows that are designed to numb us instead of inspire.”
There is so much literature that discusses the present and future. Godin is saying it’s hard to think about the long-term future as there is no reward today. It is about balance, but how do you get that balance right? In the world of pensions, ISAs, trusts, and investing, the focus of the wealth managers is short-term. If they don’t succeed in persuading you to invest with their firms today, they have no future. They want to hustle you to buy their products today.
To get the long-term right requires time and effort today. It means making an effort with no apparent reward today.
Are you prepared to invest your time so that your money will look after you in the future but get no reward today? If you don’t, you’ll pay the price over the long term!