If being a successful long-term investor was easy, everyone would be doing it. Building wealth over time is hard. Saving money is hard. Sacrifice is not fun. But as Your Survival Guy, it’s my job to help you through times like these when uncertainty prevails.
Your Survival Guy knows investing can be tough when prices are down. Question: Why is it that everyone loves a sale at the store but can’t stomach one with stocks? I learned a long time ago the pain from lower stock prices far exceeds the joy of higher ones. Your key to surviving in times like these is to keep your focus on your own plan and nobody else’s.
Your investment survival is about traveling light. You don’t want to be weighed down by debt or leverage. You don’t want to feel the pressure to “do things” when the right move might be to just stand there and do nothing at all.
Originally posted on Your Survival Guy.