Four Life Lessons for More Confident Investing
Before joining Truepoint, I owned my own business. I was confident in my ability to build a company, lead a team, and set goals. Investing in the stock market, though, always felt like learning a foreign language.
Some people seemed to be born bilingual—they understood investing and knew how to get started. Others were quick learners with the right teachers. Then there were people like me, who neither grew up speaking the language nor had someone to teach them.
Both of my parents devoted their working lives to public service and retired with pensions rather than 401(k)s. Investing wasn’t something we discussed at home. While I admired their commitment to public service, I chose a different path. When I became an entrepreneur, my mentors taught me the fundamentals of running a business, but no one taught me much about investing beyond a basic Roth IRA.
Years later, I brought my business development skills with me to Truepoint and found colleagues who were happy to help me learn. They started with my goals and helped me understand the steps I could take to reach them.
As it turns out, I knew more than I thought.
Recently, our Women’s Wealth Counsel, in collaboration with Dimensional Fund Advisors, hosted a webinar, “You Know More About Investing Than You Think.”
Courtney Scott, Vice President in Dimensional’s Global Client Group, shared four life lessons women can use to build confidence when it comes to learning about investing. Her message helped me recognize how the skills I had developed as a business owner could translate into making sound financial decisions.
1. Control What You Can Control
As a business owner, I couldn’t control everything, but I could manage my spending and savings. I kept careful financial records and regularly reviewed what I invested in my business, my team, and my own development.
The same principle applies to investing. We can create a plan that reflects our goals and risk tolerance, diversify our investments, and stay disciplined about following that plan.
2. Uncertainty Creates Opportunity
Owning a business is a roller coaster. Some months, a product launch drove strong revenue. Other months, we were deep in the work that would support future growth.
I learned early to evaluate the health of my business over a full year rather than judging it by a single month. That perspective also applies to investing: daily market swings don’t tell the whole story. Keeping our long-term goals in view can help us navigate uncertainty and recognize opportunities along the way.
3. Tune Out the Noise
Building a successful business takes time, commitment, and discipline. When I was getting started, a slow month could make me second-guess myself or consider pursuing a different revenue stream.
I learned to give our plans time to work before changing direction. After a product launch or a push toward a revenue goal, my team and I would assess what worked, what didn’t, and what we could improve.
Investing calls for similar discipline. Headlines and short-term market movements can tempt us to change course. Staying focused on our plan and reviewing it periodically can help us make thoughtful decisions.
4. The Value of Advice
When my team and I set a sales goal, we chose a target date and worked backward. We established milestones and identified the steps needed to reach them. Breaking a larger goal into manageable actions gave us a clear path forward.
A financial advisor can help bring that same clarity to investing. An advisor who understands your goals and acts in your best interests can help you build a plan, understand your choices, and navigate decisions along the way.
A Foundation for Investing
The conversation with Courtney reminded me that my experience as a business owner had given me a foundation for investing I hadn’t fully recognized. With guidance, I could build on those familiar skills and approach investing with greater confidence.
That’s what we help people do every day at Truepoint. Whether you’re a fluent investor, still learning, or just getting started, we meet you where you are. We help you articulate your goals, understand your choices, and build a plan you feel confident following. You may be bringing more to investing than you realize, just as I did through my years as a business owner. We’re here to help you build on that foundation.
Before I came to Truepoint, I was confident I could build a business, yet I still didn’t feel fluent in the language of investing. I brought my business development skills with me—and finally found a place where people were happy to teach me the language. I found people who didn’t overwhelm me with jargon and acronyms. They started with helping me define my goals and set the action plan to help me reach them.
It’s what we do every day.
We know that some people are fluent investors, some are learning, and others are just getting started. We meet you where you are, helping you articulate your goals, control what you can, and remain calm during times of uncertainty, so that you feel confident knowing you are learning more about investing.
