In investing as in life, it is simply impossible to take advantage of every opportunity. Often times we think about all of the hypothetical returns we’ve missed out on, which to us means nothing more than wasting time. Worse, it creates that sense of FOMO that can lead us to pursue the next ever elusive “hot” stock or investment trend with limited to catastrophic results.
Here are a few actionable steps to avoid acting just for fear of missing out.
Well let’s goOkay what we discussed in this episode:
- What is FOMO?
- Where does FOMO come from?
- 5 steps to taking action based on FOMO. to avoid
Here’s a breakdown of how this episode played out …
Research suggests that losses are twice as effective as gains psychologically.
Be patient. Focus on the long term and I have extreme confidence and have seen people speed up their goals and it’s not just a linear thing.
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