Investing Mistakes to Avoid: #2 Tomorrowland

When I was a kid, some of my favorite memories were vacations to Walt Disney World and going on Space Mountain—repeatedly. Then after every ride, I’d stand on the conveyor belt and look at Tomorrowland and think about how cool it would be to someday live in space.

That’s a long time ago now, and here I am writing to you from Earth, still wondering if that will ever happen. Maybe. But a lot of investing days and years have passed since then, and if we could time travel from the 70s, investing in stocks would have been a good move if—and that’s a big if—you had time.

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Just like back then, there are plenty of promising ideas that grab the attention—and the money—from investors: television, penny stocks, inflation, market timing, sector bets, crypto, ESG, AI, etc. Sometimes the fastest way to make a million bucks is to start with two. There will always be forces working against the zero-sum game of the trader, the speculator. Speculation, like gravity, can separate you from your money faster than counting down “three, two, one.”

But it would be a mistake to believe stocks are never going to be higher. You need courage to beat inertia, to withstand the turbulence, and remain focused on your flight plan. It’s easy when others are doing worse. It’s harder when they’re telling you about their wins. Investing in the promise of Tomorrowland may not turn out as planned, but having a mission can help you get to where you need to be.

Action Line: When you want help with your Tomorrowland, let’s talk.

A spirit with a vision

Is a dream with a mission

-Rush

Read every one of the Investing Mistakes to Avoid here.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.