“No individual raindrop considers itself responsible for the flood.”
This is the part where you take a selfie. Yes, the NUMBER ONE killer of investor returns is YOUR BEHAVOR.
What are a few things that you can do to reduce chances your behavior can be so costly?
- Think BIG, as in the big PICTURE. Have a written financial plan. What are your end goals? What is important to you? Is it realistic?
- Think LONG, as in LONG TERM. 3-5 years minimum. People will eat cheeseburgers, drink sodas, and drive their car, no matter what virus is floating around, who is elected, or what daily drama is on the news today.
- Live within your means. Spend less than you make. This dramatically reduces stress and allows a better chance for objective decisions to be made.
- Have an emergency fund. Anything can happen. People get sick. Things break. Markets can be volatile. Having the comfort of having readily available emergency fund, can be a fantastic buffer to prevent selling good investments at the wrong time.
- What is your risk tolerance?? Are your investments aligned accordingly? I have seen so many times, people say one thing, and their investments are totally different. Take this risk test, to find out »
Which one of these steps do you need help on? Call, email, or text me anytime.
Hope all is well with you and your family,