Embracing the Spectrum of Emotions
Investing can be an emotional roller coaster, with the excitement of portfolio growth followed by the panic of market downturns. This emotional ride is rooted in the experience of loss aversion, a psychological principle suggesting the pain felt from financial loss is twice as potent as the pleasure experienced from a similar gain. However, it's crucial to recognize that allowing our emotions to guide our investment decisions can lead to irrational choices.
Just as stepping out of your comfort zone can be challenging in other areas of life, such as participating in a triathlon or speaking publicly, it can also be difficult in investing. This discomfort can lead to a flywheel of negative self-talk and impulsive decision-making, which could potentially undermine your financial health.
At Journey, we provide the foundation and tools to help you build a truly resilient investment plan. By learning to manage and embrace discomfort on top of building your plan could allow you to enhance your investment decisions, paving the way for potential achievement of your personal and professional financial objectives.
Get comfortable with being uncomfortable…