Short Term Troubles, Long Term Difficulties

empress-eremmy in #hive-167922 • 2 years ago

Things will be better in the future, or at least we often like to encourage ourselves with that. There is this perpetual optimism that permeates us as human beings and in a way it keeps us going. Life after all will be quite nihilistic without the succor that hope brings.

Hope however shouldn't get in the way of our ability to act now. A lot of us defer certain plans or actions because the immediate conditions aren't exactly favourable and instead wait for the 'right time', a date which is completely unknown and uncertain.

When it comes to finance, there is always the belief that the future will be better, even when all possible pointers indicate the opposite. However time quickly passes and we realize how wrong we were, but unrepentantly defer our expectations rather than taking necessary actions to improve them.

A good example is with the process of certain cryptocurrencies in our asset base. Many we hope will perform very well in the long term for no other reason other than the fact that we are in possession of them. Another example is when we invest late in an asset that has already reached its peak price, perhaps with the hope that the highs will be continuous and never ending.

Decisions

Managing our expectations is very important in making good financial decisions as it puts us in a rational position to accurately observe and determine for ourselves what is worth it and what isn't. Appreciating the difficulty and uncertainty of things is one way to ensure plans are quickly set in motion.

There is a reason why many people in the business World encourage others to simply 'start'. This is because the conditions will almost never be perfect if that is what we seek, and we may end up never taking action while waiting endlessly on it.

Acting in the finance sense means taking necessary actions to improve or preserve our asset base. Some people procrastinate on buying one asset or another and end up with tales of regret. Others sell too quick, some sell too late, while some don't even participate at all.

Conclusion

We all hope the future will be better for a given, but we must never lose the will to work in the present as we make those plans for the future.

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#proofofbrain #neoxian #waiv #cent #ctp #archon #leofinance

2 years ago in #hive-167922 by empress-eremmy

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evernoticethat 2 years ago

We've all heard that old adage about buying a fixer-upper in a good neighborhood. This reminds me of the time I advised my sister to go in on a stock that had tanked from its high, down to $14. I did my research on it and knew the conditions were temporary for this well-established blue-chip stock.

She sat and waited, watching it climb from $14 all the way up to a peak of over $100 a share,

Without investing in it...

Then it began to drop back (this was a year later, mind you), and she asked me if NOW was the right time to invest. I told her the optimal time was back when it was $14 as she could have made many times her initial investment back.

Some people like to watch, others take action.

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empress-eremmy 2 years ago

Very well said

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riz611 2 years ago

Some people like to watch, others take action.

If this isn't LEGIT.

Some just wait and wait, for the "right moment" and then never end up going anywhere. Whereas if they had put in just a little bit, slow and steady, step by step, they would get somewhere at least, having access to a small piece of the pie.

Soon enough they would even build up a good habit of DCA-ing and investing, no matter the amount, they would then regularly invest, just for the sake of routinely investing.

Whenever we get our hands on a lump sum amount, we just try to figure ways and things to spend it all on. Yes, people have to take care of their necessities and make some necessary changes and upgrades, but even after all of that is taken care of, a small percentage kept aside for investments can still be managed I'd say.

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evernoticethat 2 years ago

You know it was if she was frozen into inaction. At first, she was completely skeptical and didn't want to peruse any of the research I'd outlined for her.

Then an element of greed crept in, even after she was told to buy in so she could take profits. This "watching" went on for months and months, but no actual action took place. It was a textbook example of financial immobility.

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riz611 2 years ago

I guess if she had researched properly and looked into it a bit more, maybe then she would've been really intrigued, leading herself to buy in and not miss out on the profits.

I myself love to engage in as much research as possible, whether it be scouring the internet or just having a chat with someone about a certain stock, crypto or project. More research and getting to know more about a project's background, motives and the initiatives that they've taken are the things that really get me going, makes me want to invest more, because I see promise in there. That's when I squeeze out every "investable" penny and just go "all in".

Yet, even I do have those moments of immobility, where I keep on looking instead of actually investing or even holding on a bit longer. I guess it's that way because we're just human, we have our flaws and we get too greedy and lack the necessary amount of patience sometimes. That is why a bit more practice is needed I guess, mental practice, to stay invested and to have faith in the process.

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