Sound Investing The biggest challenge to successful investing
Inspired by a conversation with George Sisti, Paul's good friend and trusted Truth Teller, Paul makes the case that successful investing is 99.9% defense. (See article referenced below). The good news is: almost every one of these defensive steps are easily applied to managing a portfolio. And once you set the process in motion, it should be relatively easy to stay the course. Of all the defensive steps we should be able to control personally, there is one hurdle for investors that often leads to serious, and likely costly mistakes: maintaining the commitment to buy-and-hold in bear markets! While buy-and-hold sounded realistic when the portfolio was established, the experience of losing 30% (average bear market loss) is a difficult pill to swallow. Human nature is shouting, “Don’t be a patsy! Why sit there and watch your life savings disappear without a fight or flight to safety?” Paul discusses the best ways he knows to help control the temptation to cut your losses.
See Mentioned Link: The 12 Best Retirement Investing Lessons: https://paulmerriman.com/the-12-best-retirement-investing-lessons/
George Sisti,CFP™, is a certified Financial Planner™ practitioner and the founder of On Course Financial Planning, a fee-only Registered Investment Advisor firm.
You can read more by and about George at: https://paulmerriman.com/george-sisti-certified-financial-planner/
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