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
SUBSCRIBE & DON'T MISS A SINGLE EPISODE OF MICHAEL YARDNEY'S PODCAST
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
NEED HELP LISTENING TO MICHAEL YARDNEY'S PODCAST FROM YOUR PHONE OR TABLET?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
PREFER TO SUBSCRIBE VIA EMAIL?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.