As Your Survival Guy, I understand the immense pressure you’re under to “do something.” Everyone’s got a plan of what to do with your money. I know this not because you tell me what they’re telling you, but just from experience.
I know, for example, when you’re asking me, “Why are we holding this position?” It’s usually the one that’s down the most. That’s human nature. But instead of looking for the exit, sometimes it’s positions selling at a deep discount that deserve additional money.
I know you’re being tempted. I see the attractive teaser rates, annuities that promise a lifetime stream of income (at what cost?), and other front-runner products. Look, this is a competitive business, and keeping the wolves at bay is a daily task. But thankfully, you have me, Your Survival Guy, by your side.
Sometimes I feel like a dietician.
Look, yes, I’m Your Survival Guy. But I often feel like Dr. Don’t Eat That.
Because risk is a lot like a food intolerance. You don’t realize what you can handle (or can’t handle) until it’s too late. And I wish we all learned from past mistakes, so we didn’t have to be asked: “You didn’t eat that again, did you?”
Action Line: I know, I know. It’s hard to stay on track. We all need reminders. Think of me the next time you look at a menu. I’m here to help.
Originally posted on Your Survival Guy.