Welcome back to our ongoing series called: The 10 Beliefs. To start at the beginning or read one you missed, scroll to the end of this article for links to every post in the series.
This series will show you the seven most common money mistakes people make. In our experience, there are seven mistakes that are made far too often. Armed with this knowledge, you should be able to identify the mistakes, and more importantly we’ll tell you the ten things we believe you should be doing so you can stop worrying about money, gain confidence and financial freedom, secure your lifestyle and retire happy with dignity and grace.
Too often investors follow their emotion-driven impulses to the fluctuations of the market and make mistakes. They lose money chasing after investments. Often they buy in when prices are high, only for them to drop, which has them panicked to sell at a low… And then they go back up.
It’s the difference between reacting and looking ahead. Even if investing scares you, even if the ups and downs of the market have you biting your nails, you can eliminating these reactionary mistakes that end up costing you.
Let’s face it, when money is involved, emotions shouldn’t be part of our decision making. But we’re human, we get scared, excited, sad, or what have you, and we act when we shouldn’t. Ever been so mad you said something you shouldn’t of? Yeah, like that. But the difference is we can’t apologize to our money and have it come back when we lost it all in an emotional mistake.
We’ve found that having a fiduciary in your corner, to coach you through those emotional moments, can mean the difference between success and failure. A fiduciary is legally bound to act in your best interest. This is what we call Our Fiduciary Promise.
Do you worry constantly about money or feel like you're standing still and not getting the growth you need? Or maybe you've made the mistake of accepting a one-size-fits-not plan or followed the wrong advice? Our next mistake, Mistake #6 - Believing Dreams Must Die talks about how make all the tough choices we've talked about so far without destroying your dreams. You can catch that post here: Mistake #6 - Believing Dreams Must Die.
You can also grab all of the mistakes and beliefs in a free download. Grab it here.