A MAJOR PART OF SUCCESS is managing your attitude and emotions, and investing is no different.
If you are a perma-bear, and you always expect the sky to fall, you will experience bad performance. Multiple studies have shown that missing just the top 10 days of the market can result in extreme underperformance.
So how can you avoid a negative investment attitude?
In a nutshell, any time you find yourself saying “I have to,” change the phrasing to “I get to.”
This change might sound ridiculously simple at first, but the effect is impactful – especially over the long term.
Following are some examples where reframing ideas in your financial life can really pay off:
“I have to invest” versus “I get to invest.” During down times in the stock market, some investors feel very nervous. They know the right thing to do is maintain their plan – but with so many negative headlines it is hard not to panic.