We often talk about investing your way to wealth. We often talk about how you need an investing strategy, but seldom do we talk about how you can invest using it! One of the most famous investment philosophies is value investing, but what is it?
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This M1 Finance review will help you decide if this is the best online brokerage for you.
One question that I get asked often in times of major market declines like the one we are in is, “Is it time to sell?”. It’s easy to say “NO!” but there’s a much lengthier discussion to be had.
Over the last month and a half or so we have essentially grounded to an economic halt here in the United States and globally. There is a lot of fear and anxiety.
Times like these when you look on the screen and you see the Dow down 10% and the next day it’s up 5% can be very frustrating. I get it!
The frustration is normal, although, freaking out is not! And what I mean by freaking out, is effectively saying, “Hey, I have to get out of the market, I have to sell everything.”
You’re faced with this overwhelming desire to just “stop the pain” because that’s the way that our brains work. You end up being faced with three decisions.
The economic tumult brought on by COVID-19 reminds us, once again, that trying to time the market is a fool’s errand. Following the zigs and zags of stock values during the first quarter of 2020 was like watching a high-speed Wimbledon match; you risked giving yourself financial whiplash. And trying to time your trading to profitably coincide with those zigs and zags? Impossible.
So what can you do in a topsy-turvy market that has spun out of control? How can you maximize your gains and limit your losses? For me, the answer is simple. I do what I always do; I stick to my plan.
Having an Investment Strategy is Crucial to Building Wealth!
Successful investing isn’t about predicting market trends. It isn’t about bobbing and weaving in an effort to constantly “buy low and sell high.” And it definitely isn’t about following stock charts daily and reacting to economic news as it happens. In fact, when done correctly, investing can be a remarkably hands-off activity. The best investors stick to just three basic rules to ensure that they come out ahead.
The FIRE movement has its share of haters.
And honestly, I don’t get it. (Much.)
Sure, the biggest objections are understandable:
- People don’t want to retire early and sit on their rear doing nothing.
- It can seem out of reach for many people.
- People don’t want to live waaaaay below their means and never do anything fun.
So let’s tackle those things one at a time. Doing so will help explain why right this very moment — with all the economic upheaval and ongoing problems — might be the exact right time to join the FIRE movement.