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Australian Finance Podcast
🧠Brain Hacks: Sticking to your investment plan and avoiding the trap of tinkering
Apr 3, 2024
Financial expert Evan Lucas joins Kate Campbell to discuss sticking to your investment plan and avoiding the temptation of tinkering. They explore managing boredom in investing, setting meaningful goals, and aligning investments with personal values. The podcast also covers diverse investment strategies, financial services, and the importance of seeking personalized financial advice.
20:07
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Quick takeaways
- Set medium and longer-term financial goals to maintain motivation and avoid constantly changing investment plans.
- Practice delayed gratification by celebrating short-term milestones and focusing on positive investing behaviors.
Deep dives
Managing the Boring Parts of the Investing Journey
When investors reach a point where they feel their investment strategy is on autopilot, they may start feeling a need to do something more, triggering a natural reaction to see financial independence. However, this phase can be challenging as the excitement of setting up financial goals wanes, and the longer-term vision may seem further away, leading to a feeling of needing to achieve more. The key is to set medium and longer-term financial goals to maintain motivation and avoid the temptation to constantly change investment plans, focusing on the habit of investing and celebrating milestones along the journey.
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