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The one psychological trait that will prove fatal to your financial future. July 13, 2011

Posted by shaferfinancial in Finance.

The biggest issue is always one’s ability to hold onto one’s financial plan during bad times.
If you are not capable of making a decision based on best available information at the time and stick to it until proven that it was a bad decision then you have no business purchasing anything including mutual funds or EIULs. There are no successful strategies that include changing your mind every time the wind changes directions. So if there is one strategy that I suggest for folks it is work on your own internal psyche until you can overcome emotions of a bad market or propaganda emanating from the mass media. Remember the mass media is paid to say what they say and has no interest in anything else [like actual results]. Bad markets happen all the time. And history as our guide is a powerful tool to use so don’t ignore it.

Just got back from Cape Cod and a great family vacation. Hope you all are having a great summer. All my investments are doing as expected despite the summer market swoon.



1. The Investment Blogger - July 19, 2011

So true Dave. Many people jump right into investing, before mastering their own psyche and get burned over & over again. Great reading a new posting from you again!

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