Morgan Housel – has written a book, The Psychology of Money, that is one of the most insightful financial books I’ve read in many years. He addresses many of the reasons most people don’t do very well with their money. He also offers some excellent insights into the thought process behind financial success.
Today’s world (in general, of course, but specifically relating to the world of investing) is challenging – some would say chaotic. Sometimes it feels like we’re missing out (should I have invested in Bitcoin?). Sometimes it feels like up is down and down is up (the current crop of miscreants in Washington D.C. are actively working against the American economy, but the economy and the investment markets continue to rise). Sometimes we just want to hide our heads in the sand. Making the ‘right’ decisions in such an environment seems to be an impossible task. Housel offers an amazingly simple, but exceptionally useful guide:
“‘Does this help me sleep at night?’ is the best universal guidepost for most financial decisions.”
We encourage you to consider this guide when you make your financial decisions. Would we all like to make higher returns on our investments? Of course. But . . . would we all (maybe even more) like to avoid some of the painful drops we have seen in the past? Yes, indeed.
There are investment platforms, strategies, and tactics that can help you sleep at night. Be sure to work with your financial advisor to get your fair share of restful sleep.
God bless all of you and God bless America.
Please allow us to serve you and those you love.
P.S. What is more important to you – gaining the highest return on your investments or avoiding big losses along the way?