Episode 79 – How to ruin your investment portfolio
Could you be hurting your investment portfolio without even knowing it?
The short answer: Yes.
The solution? Knowing what habits you should be looking out for and avoiding.
I tell you exactly what those are by walking you through five ways you can ruin your investment portfolio in the latest podcast episode.
Tune in to learn more here.
Hey there. Welcome back. This is episode number 79.
Today I want to do things a little bit backwards. I’m gonna share with you how to ruin your investment portfolio. It is easier to solve our problems in reverse. We look for problems. That’s how we’re wired. So let’s trick our mind by telling you the wrong things.
Then we can reverse that and somehow we seem to remember it better and it sticks with us by default. I want you to do the opposite today, so I’m gonna share with you five things, how to ruin your investment portfolio.
Number one, you can start tomorrow. Don’t worry about it right now, delay. Do it later.
Number two, take advice from the news and media. Listen to everyone else but your financial planner. Listen to every other scenario, may or may not apply to you. Does not matter. Take advice from everywhere.
Number three, how to ruin your investment portfolio. Constantly changing your investment choices. That knee jerk reaction, making a switch, deciding what is the soup du jour, and making that change nonstop.
Number four, how to ruin your investment portfolio. Avoid the short-term discomfort, meaning do anything possible to avoid that pain that might be felt for six to 12, maybe 18 months. I want you to focus on the short term and avoid all pain.
The last one, if you want to ruin your investment portfolio, wait on the sideline for the perfect moment. Just ride it out. Keep all your money in cash and wait for that big downturn because eventually it will happen if you call on it for another year or two or four or five years, and you just wait in the sidelines and wait for that perfect moment. That’s how you can ruin your investment portfolio. That’s it.
Remember by default, do the opposite of what I just shared.
Any questions, send me a note at [email protected].