^{By: Lewis Johnson}

This morning, a single word kept rising to the surface of my thoughts: discipline. Not just as a concept, but as a fundamental principle—one that carries weight far beyond investing.

If I had to create a personal dictionary of investing, discipline would be the first and most important entry. Why? Because discipline isn’t just an investment strategy. It’s a mindset. A way of life. A spiritual and mental framework that influences every financial decision we make.

The Temptation of Easy Wealth

In today’s market environment—with equity valuations near all-time highs—it can feel like making money is easy. We see headlines about instant riches and get-rich-quick opportunities. It’s easy to be lured into thinking that wealth can be achieved without effort. But wealth without work is a myth.

That’s where discipline enters the picture. It’s the compass that keeps us aligned with long-term goals, especially when markets make shortcuts look tempting. It’s about following a process, remaining focused on purpose, and recognizing the risks associated with putting your hard-earned money to work.

When Discipline Matters Most

The challenge right now is that discipline often feels unnecessary—especially after years of strong market performance.  People grow complacent; They start to believe that discipline is optional, maybe even irrelevant. But this is exactly when discipline matters most.

In my 25+ years of investing, I’ve seen it time and time again: when investors abandon discipline, the market finds a way to remind them why it’s important. And the cost of that reminder can be high.

Discipline Isn’t Glamorous

Let’s be honest: discipline isn’t flashy. It’s not exciting. It’s not fun. But there’s comfort in having a process. There’s strength in staying the course.

A late friend and former advisor, John Walker, used to describe it this way: “Discipline is like making your kids eat the broccoli.” Sure, everyone wants ice cream. It’s sweeter, more enjoyable. But if all you do is eat ice cream, there are consequences. As parents, we wouldn’t let our children live that way. We’d make them eat the broccoli because we know it’s good for them—because it’s necessary.

The same applies to investing.

Signs of the Times

Right now, we’re seeing speculative behavior in the market that suggests investors are growing fearless. That kind of fearlessness—when not grounded in process—often signals a lack of discipline. And that’s a red flag.

As Mark Twain once said, “A man who carries a cat by the tail learns something he can learn in no other way.” I believe many investors today are about to learn a hard lesson, the kind that can only be learned through experience.

Helping Clients Stay Disciplined

At the end of the day, our job as advisors is to help clients avoid those painful, unnecessary lessons. We’re here to remind them—gently but firmly—that discipline isn’t just a word. We believe it’s the foundation of successful investing.

So, if you take one thing away from this, let it be this: Stay in the saddle. Follow the process. Eat the broccoli. Because the reward for discipline is not just a potential financial return—it’s peace of mind, clarity of purpose, and potential long-term success.

Let’s Connect:
Have questions about investing in uncertain times? Contact us to speak with one of our advisors.