Happy Friday. It’s been quite a week for Your Survival Guy: the Rush concert on Monday night and my first hole-in-one on Tuesday. Sometimes you never know how good fortune will play out.
Your good fortune is what we’re here to talk about, though. As I was reminded this week, sometimes, when we are told to say no to life’s busyness, the best choice isn’t always clear. It’s easy to say no. It’s easy to miss the boat.
Saying “yes” takes something of a leap of faith. Beating inertia in life is tough, especially when it comes to your money.
The easy part of investing can be buying. Then, one day, you wake up and realize you have a rat’s nest of positions with no cohesion whatsoever.
Then you methodically comb through your positions and sell until you reach an appropriate asset allocation for your current risk tolerance. Kidding; this rarely happens.
What happens is that the rat’s nest continues to grow as a tangled mess.
Remember, when it comes to investing, there are no free lunches, except perhaps here:
In my conversations with investors, they tell me, “Survival Guy, I’m good at buying, but not so much at selling.” I know.
Yes, we have an idea of what’s good for us. Yes, we want to spend money somewhat foolishly. And we want to beat inertia. But sometimes we need a little guidance.
Action Line: Next up, Paris in October. Want to talk? Email me at ejsmith@yoursurvivalguy.com.
