Common sense is not so common amongst investors.
That’s why I found a recent blog from Ben Carlson so interesting.
He offered some simple reminders about what to focus on:
- Portfolio management not investment strategies.
- Meeting your needs & desires not beating benchmarks.
- Risk management not risk measurement.
- Long-term process not short-term outcomes.
- Products you understand not investments that sound clever.
- Important not urgent.
- Simplicity not complexity.
- Fewer decisions not more choices.
- Enough not more.
- Delayed gratification not instant.
- Systems not willpower.
- Flexibility not certainty.
- Evidence not opinions.
- Humility not hubris.
- A plan not tactics.
- Patience not activity.
- Balance not gambling.
- Perspective not more information.
- Investing not speculation.
- Total return not just yield.
- Discipline not neglect.
- Your time horizon not someone else’s.
- Books not arguments.
- And finally, remember that financial independence is about time not wealth.
Read more at A Wealth Of Common Sense
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