Continuing to develop your skillset across your trading or your personal life can be an extremely rewarding process. And watching yourself grow and develop as a person for the right reasons is what we like to call ‘CPD’. And here’s why CPD is so important for anyone looking to achieve their investment goals:
What is CPD?
Continuing Personal Development (or ‘CPD’) is the constant drive to develop new skills and/or grow as a person. As the inquisitive beings we are, we’re always looking to learn something new. To pick up some new skills or see what’s on the other side of our most audacious goals. And Host Andrew Baxter says often our desire for CPD can be spurred on from a myriad of situational factors, nonetheless. And can be applied across a range of gambits to make you a better person. Or better yet make you some more money.
You’re Either Growing or You’re Dead
If you’re a success driven person, the insatiable desire to be better and do better is one that’ll keep you growing forever. And those who opt to take it easy and fail to realise their true potential, die. Host Andrew Baxter draws comparison here to a fitness regime or cooking routine. And Yes, what you may be doing now could be working quite nicely. However, for anyone on the success pathway, there is always a way. And to improve or tweak your current methodology to achieve a slightly better outcome. Also, Growing as a person is a human need as we remain curious. Additionally, as to what the next level or outcome of our goals look like. Probably, which the only way to get there is through continuing to develop yourself personally.
CPD and Your Investing
Dialing this back now to more money and investing focus. Let’s explore some situation factors which may cause the onset of some hardcore CPD. Andrew Baxter says there are two different catalysts that often spur on the need for personal development – internal and external factors. An external factor is something like retiring. And you’ve just hit your preservation age and have decided to quit the tools. Thus, the need to understand your investments. Also, how they work and how to generate a good enough return for you to now live off is paramount.
Educating yourself and learning how to do this would be a prime example of CPD as you embark on your educational journey. On the other side of the coin. Let’s say you were lucky enough to receive an inheritance from a loved one. Additionally, you wake up one day and you’re now responsible for Aunt May’s $2m estate . And what do you do? Well, you learn how to manage money and quickly understand the world of investing. In these situations, we are forced to develop our skillsets.
Try Not to Chase the Wind
The quest for continual personal development can sometimes result in becoming a double-edged sword for a lot of people. And If you’re constantly seeking the best investment returns. Furthermore, the flashiest car, the ultimate fitness regime, or perfect meal schedule. Also, you’ll find yourself chasing the wind. And Host Andrew Baxter says it’s important to have an end goal in mind. Particularly, when developing your investment strategy.
Often, we see people chasing the highest return on their investment. However, neglecting the volatility of those returns, fees, or management intensity. And Self-examination is important here – what could you be doing better? And what are other investors doing? What does your trading plan look like? Also, having a proper plan in place will ensure you stay on track. And have some attainable goals and system to get there. Also, don’t get caught up in chasing the wind.
Work Out Your ‘Why’
For anyone with a vision and some values. Also, working out why exactly you are developing as a person is crucial. And Making decisions on your CPD from an investment perspective can become awfully challenging. And if you haven’t worked out what it is you’re trying to achieve and for what reason. Moreover, if do you want to make money from the stock market. So you can party more? For a new car? Or to support your family?
There is no right or wrong here as it comes down totally to the individual themselves. Therefore, albeit it is what will keep you fighting in the trenches when the quest for being better gets tough. And for anyone exploring their investment opportunities in this space. Also, for who maybe need a little bit more handholding. And reach out to Australian Investment Education to learn more.