Patience is probably not a buzzword for the modern world. Nor would one normally associate it with money. However, we have already seen how patience, in conjunction with compounding, brings significant rewards.
In the world of financial life planning, patience goes somewhat further than the simple mathematics of time and rolled-up returns. It is less about time, more about timing, choosing the right time to do nothing and the right time to act. It is not procrastination; it is being fully present in the moment and preparing yourself to be in the right time and place, armed with the right knowledge and principles, to begin and end something at exactly the right time and place. And it is about having the right money in the right place at the right time to live your desired life for all your life.
Patience brings rewards
If you can get all of this right (and admittedly in this volatile, project driven, erratic world in which we live and work it takes a bit of work), the benefits are invaluable. You become financially proficient, with a logical structure to your finances, driven by your expenditure plans and the achievement of your goals. You should find you always have the right money in the right place at the right time, and you will be less at the mercy of either stock market volatility or inflation.