Seven Steps for Building Wealth: Step #7

Written by Dave Young, President

Step #7:  Be Patient

After you find an investment strategy that meets the above criteria, it’s all about patience, self control, patience and more patience.

We are constantly positioning our funds to take advantage of whatever the markets will give us. We never know in advance when we’re going to be rewarded. We sometimes spend months waiting. But we do know that following this process in the past has yielded tremendous rewards.

Managed Income and Top Flight have both tested our patience during periods of underperformance. By exercising patience and staying invested, Managed Income has generated a compound annual return of 9.63% since its inception in 2001. Paragon’s Top Flight portfolio has generated a compound annual return of 18.03% since its inception in 1998 (see track record for full disclosures).

These seven rules apply whether you have a large or small amount of money. Building wealth is possible...if you follow the rules.