We are all motivated to do things out of own interests, whether we know about it , admit it or not. There will be and will continue to have analysts, brokerage firms, famous gurus, coaches, myself included sharing with you a particular stock and you may be tempted to go with them.
Before you do that, I suggest you DO YOUR OWN RESEARCH no matter how convincing they sound it. Their money/profit or loss is theirs and your money/profit or loss is yours as well. They may be able to stomach say 50,000 to 200,000 dollars paper losses out of their million dollars portfolio but they have other incomes coming in - courses, books, seminars, etc.
How about you? If your main income comes from your 9-5 job and your invested capital are your hard earn money then the more you need to be triple careful about your investment decisions.
Diversification is one strategy I personally do for my own portfolio to mitigate my risks in investment. That means to spread your eggs into various industries.
The fear of missing out - this is a real fear for many who probably fear they will not be able to catch up with others in terms of wealth, assets, etc. The constant pressure from peers, colleagues, etc have an accelerating stress on your emotional well being. Plus, as men, you probably faced it more since it is said that man's role is to bring home the bacon.
WHO doesn't want to go for 2-3 trips a year ? Buy the nicest gifts for their spouse and children? Stay in a nice house with a pool and take nice instagram photos to show off ?
While all these may sound like reasons for improvement, it has to be executed at a pace that you can manage. Investment is a long term strategy not buying a lottery ticket , placing all your bets in one stock and hoping it rises meteorically . I am sure out of 10 who tried that , maybe only 1 or 2 are lucky enough to make it with the majority sucking thumb and feeling the pain of regrets for making that unwise decisions.
Greed and fear will remain the biggest emotions in our lives and it applies well in the game of investment. To stay rational is TOUGH as we are not robots devoid of emotions. We get swayed and fantasied what if ............
ALWAYS do your homework , allocate correct capital to invest (dun sell grandma to bet on your horses) and stay in the market rather than TIME the market (i paid a great price for thinking I could do that in the past, dont be like me).
Before you do that, I suggest you DO YOUR OWN RESEARCH no matter how convincing they sound it. Their money/profit or loss is theirs and your money/profit or loss is yours as well. They may be able to stomach say 50,000 to 200,000 dollars paper losses out of their million dollars portfolio but they have other incomes coming in - courses, books, seminars, etc.
How about you? If your main income comes from your 9-5 job and your invested capital are your hard earn money then the more you need to be triple careful about your investment decisions.
Diversification is one strategy I personally do for my own portfolio to mitigate my risks in investment. That means to spread your eggs into various industries.
The fear of missing out - this is a real fear for many who probably fear they will not be able to catch up with others in terms of wealth, assets, etc. The constant pressure from peers, colleagues, etc have an accelerating stress on your emotional well being. Plus, as men, you probably faced it more since it is said that man's role is to bring home the bacon.
WHO doesn't want to go for 2-3 trips a year ? Buy the nicest gifts for their spouse and children? Stay in a nice house with a pool and take nice instagram photos to show off ?
While all these may sound like reasons for improvement, it has to be executed at a pace that you can manage. Investment is a long term strategy not buying a lottery ticket , placing all your bets in one stock and hoping it rises meteorically . I am sure out of 10 who tried that , maybe only 1 or 2 are lucky enough to make it with the majority sucking thumb and feeling the pain of regrets for making that unwise decisions.
Greed and fear will remain the biggest emotions in our lives and it applies well in the game of investment. To stay rational is TOUGH as we are not robots devoid of emotions. We get swayed and fantasied what if ............
ALWAYS do your homework , allocate correct capital to invest (dun sell grandma to bet on your horses) and stay in the market rather than TIME the market (i paid a great price for thinking I could do that in the past, dont be like me).