Taking the emotion out of money is the key to successful investing.
Strategy for investment success
One of the biggest mistakes that investors can make is allowing their emotions or “feelings” to dictate their financial decisions. While it’s true that an investment performing poorly doesn’t feel good in the moment, I prefer to look at the big picture in terms of goals rather than short-term ups and downs.
Objectivity and technical application of proven strategies are major keys to achieving financial goals. It doesn’t matter to me how something feels; what matters is being confident that the tools we use and the paths we take lead to success based on various market and economic conditions.
Financial plans are living, breathing things that need to be cared for over time. Goals change; plans change. Tolerance for volatility can change. It is important to work with a professional that can adapt with you and adjust the long-term view according to these changes.