How to Take the Long View With Your Investments
On any given day, the stock market could earn you a fortune or cost you your retirement. And then the next day, it could do the opposite. Short-term investing doesn't make sense in today's economy. That's why it's important to know how you can take a long view without making serious investment mistakes.
Image via Flickr by pedrosimoes7
Stop Worrying About It
Find a good investment advisor and let him handle the work. Someone like Ken Fisher of Fisher Investments will create diverse portfolios that balance risk with near-certainties. When you have someone trustworthy and smart working for you, you don't have to look at your stocks every day.
In fact, you shouldn't look at them every day. It will just create anxiety or joy that means nothing within hours. That rollercoaster of emotions won't lead to an early retirement. It will lead to an early grave.
Don't Drop a Company Just Because Its Value Falls
Investors used to find companies they believed in and then they'd get involved in making decisions with the company. Investors, after all, are owners. They have a lot to say about how a company functions.
Today, a lot of people think that they can get rich quick by buying and selling stocks within days or hours. Some of those people have made millions, but they've also hurt the way that the economy functions.
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