Read? 3M's - Method, Money, Mind (3)
Read? 4 Money Mindsets: Which Is Yours?
Uncle8888 belongs to the group of Perfectionists in the financial planning personalities who are not in the main stream of retail investors' mindset.
Perfectionists tend to .....
- Think too much.
- Plan too much.
- Track too much
- Measure too much
- Concern too much
- Goals too many
... excluding Analysing too much (This is Uncle8888: Less Analysing. More Investing)
Read? The 3 Ms Part 3 - Mind (The ring that rules them all)
SMOL said: The ring that rules them all!
When it comes to investing our hard-earned money, most of us may know deeply in our heart, it all about controlling our Mind over Greed and Fear
across market cycles of Bull and Bear to reach our long-term investing Goals.
Our Mind will always be in conflict with our Money and Method whenever there is too much uncertainty and volatility in the market as most of us are likely to fear losing too much money or losing our gains back to the market.
No Goals. How?
For those who don't have any definite long-term investing Goals, your Mind may be more towards to the favour of the day or favour of the week in the market.
You have to act upon what in your Mind, Money and Method.
Cannot have conflicts to win. Right?
See the difference?
Who are you and mind your 3M's?