Stay disciplined with your investment strategy from "summary" of MONEY Master the Game by Tony Robbins
It's important to remember that the stock market can be a volatile and unpredictable place. It's easy to get caught up in the excitement of a rising market and make impulsive decisions based on emotions rather than logic. This is where discipline comes into play. Discipline means sticking to your investment strategy no matter what the market is doing. It means not letting fear or greed drive your decisions. It means having a plan in place and sticking to it, even when things get tough. One way to stay disciplined with your investment strategy is to have a written plan. This plan should outline your financial goals, your risk tolerance, and your investment strategy. Having a written plan can help you stay focused and avoid making emotional decisions. Another way to stay disciplined is to avoid trying to...Similar Posts
Avoid debt and interest payments to preserve your wealth
One of the key principles that the wise man in Babylon imparted to his students was the importance of avoiding debt and interes...
Think like an owner
To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. W...
The rich focus on building multiple streams of income
In the world of money, one of the key differences between the rich and the poor lies in their approach to income. While most pe...
Develop a mindset of abundance
One important concept that Kiyosaki emphasizes is the need to develop a mindset of abundance. This means believing that there i...
Leverage other people's expertise
When it comes to building wealth, one of the most important concepts to understand is the idea of leveraging other people's exp...
Market timing is nearly impossible
Timing the market is a seductive notion that has entranced investors for generations. The idea is that by predicting the future...
Being different is more important than being right
The idea that being different is more important than being right is a profound concept that challenges our conventional beliefs...
Market fluctuations are normal
Market fluctuations are normal occurrences in the stock market. They are an inherent part of investing and should be expected b...
Don't let past trades influence current decisions
The tendency for past trades to influence current decisions is a common pitfall for traders. It's easy to fall into the trap of...
Costs matter when it comes to investing
The impact of costs on investment returns cannot be overstated. The simple truth is that costs matter when it comes to investin...