Samuel Johnson once said that courage is the most necessary of virtues, as without courage, it would be impossible to exercise any of the other virtues. In terms of leading a life of accomplishment, having a strong work ethic is the most necessary of prerequisites, as without a strong work ethic, it would be impossible to realize any ambition that involves production.
The difficult fact is that a work ethic does not automatically compound. With investing, there is a passive element to it. If you own 100 shares of Coca-Cola, you can do absolutely nothing, and as long as those shares remain in the name of yourself or something you own, you’re going to receive that $156 in dividend income without any further action required on your part.
That type of passivity does not extend to work ethic. Every day, you have to actively summon the gumption to go out … Read the rest of this article!