Is your memory your worst enemy? Money Not Math 130
People have memories. Markets don’t. And that’s a good thing.
Build your financial plan and start your investing with a clean slate – just like markets do every day.
Focus on controlling what you can control. Judge yourself by the quality of your decision and actions, not outcomes. There are so many factors outside your control that can, and likely will, impact investment returns.
“It can feel daunting to develop an investment plan you can stick with and determine the level of risk that’s right for you. But few things are more important than how you invest your life savings. That’s why most people would probably benefit from a financial advisor to help them talk it all out. When it comes to investing, the key is not to try to outsmart the market, but to understand how it works and use that knowledge to your advantage. The market is a great information processing machine. It runs on human ingenuity, which is why returns tend to grow over time as people work to innovate and improve the value of the companies they work for.” – People Have Memories. Markets Don’t. by David Booth.
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Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
