Making an investment can bring up a lot of questions and concerns. But there’s a major difference between doing your due diligence and getting caught up in analysis paralysis.
On today’s show, we’re going to talk about analysis paralysis, including what it is, and how to know if you’re caught in this cycle. You’re going to learn four tips for overcoming analysis paralysis so you can move forward with your investing goals. Click play to learn more!
Four Tips for Overcoming Analysis Paralysis
- Have you ever considered what it is costing you to wait to take action on your goals? For example, how much are you losing every month on a savings account, or a stock investment that is taking a dive? When you consider this, the answer becomes more clear.
- Identify what criteria is important to you when you’re investing. This is important because when you lay out specific criteria for your portfolio, you can quickly assess an investment without getting caught up in minor details that don’t matter.
- Lead with confidence. Once you have clear numbers and clear criteria in front of you, you should be able to be confident in your decision making. When you have criteria in front of you, you can take the emotions (fear) out of the equation.
- Think big picture. Here’s one of my favorite strategies for getting over common investing roadblocks: imagine yourself 10 years into your investing career with a large portfolio of investment properties. Would that more experienced version of you care about the paint color in the bathroom of one of your rental properties? Absolutely not. At the end of the day, intelligent investing is about the big picture: building net worth, time in the market, and strong returns.
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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