Investors fail for three reasons:
- They don’t know where they’re going
- They don’t know how to start
- They don’t know what to do if things don’t go as expected
Most money is lost by people who hear an idea and jump in without context to a bigger plan.
- They buy a stock because everyone is talking about it
- They buy crypto because others are saying its easy money
- They take an investment course in stock picking, forex, real estate investing, options or futures trading, because they want an alternative to the daily grind that isn’t getting them ahead.
And all these actions are mistakes because they’ve taken them without a plan or a strategy for the long term.
- When the stock tanks they freeze and hold it all the way down and sell at the bottom.
- When the crypto turns into a scam they assume all crypto’s are scams and let fear, embarrassment and anger guide their decision-making going forward.
- When the investment course is over they either don’t implement what they learned because they are afraid to commit. Or they throw all their available money at it and hope for the best.
It’s really quite easy to avoid all this confusion and frustration
- Set a vision for the future – what are your investments going to create?
- Build a framework for investing that is based on your personality, interests, values, risk tolerance, and goals.
- Know what you know, and what don’t know. And know there are things you don’t know that you don’t know.
- Then build a plan of action – a portfolio approach where every asset and strategy have a purpose and a role to play in your journey toward financial independence.
- Set a routine for assessing progress with your own personal rules to take the emotion out of decisions. Rules that tell you when to buy and when to sell. Because the right answer is likely the opposite to whatever your lizard brain is telling you!
If you’re ready to put a plan together so that your investing activities are working for you as they should, then BOOK A CALL and we’ll talk about where you are and how to get you to where you want to be.
https://calendly.com/creatorcompass/wealthy-wise-woman-consultation
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