When lost in the woods, rather than shelter in place, there’s an instinct to keep going. There can be a feeling that you think you recognize where you are, but you don’t. It’s called bending the map.
When you’re bending the map, with every next step you become more lost, walking deeper into no man’s land, with your chance of survival becoming even more remote.
Two things happen. First, you hurt yourself even more with “action” or steps, moving deeper into the wilderness, unnecessarily burning valuable energy. Second, you don’t even know you’re lost.
When it comes to investing, you don’t hear about “lost” investors until it’s too late. When markets are up, everyone’s on a Sunday stroll. Then, without warning, the nightmare unfolds.
They’re no longer in the park. They are deep in the wilderness. That’s when investors realize they’ve lost their way. Then they take action. Their spouse asks where they are. They sell until they can sleep well at night. Anything to make them feel better. Trading into the losing side of a zero-sum game.
I don’t want you to get lost in that game.
When you venture out into the world of making money slowly, I want you to understand the difference between being a trader and being an investor. You, my successful reader, know what it’s like to work and save. You set out on your path a long time ago. If it were easy, everyone would be doing it. Believe me, they’re not.
Action Line: Spread your map out on your kitchen table and get a good look at where you are and where you want to go. Do not get lost. Do not fall prey to bending the map. When you’re ready to hit the trail, let’s talk. Email me at ejsmith@yoursurvivalguy.com.
Read the entire series here.
