Control what you can control from "summary" of The Simple Path to Wealth by Jl Collins
As you navigate the world of investing, it is crucial to remember that there are certain things that are within your control and others that are not. You can control how much you save and invest, the level of risk you are comfortable with, and the fees you pay. These factors have a direct impact on your financial well-being and are entirely in your hands. Conversely, you cannot control the performance of the market, the economy, or individual stocks. These external forces are unpredictable and can cause stress and anxiety if you try to influence them. By focusing on what you can control and letting go of what you cannot, you can simplify your investment strategy and reduce unnecessary worry. Instead of trying to time the market or pick winning stocks, concentrate on building a diversified portfolio of low-cost index funds and staying the course for the long term. This approach allows you to harness the power of compounding returns and benefit from the growth of the overall market.- Controlling what you can control means taking ownership of your financial future and making decisions that align with your goals and values. It is a mindset that empowers you to stay disciplined and focused on what truly matters in your journey to financial independence.
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