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Option overload: In the case of your finances, this behavior can be a major pitfall. Overthinking your strategy might be just as worse as not thinking about it all, which means finding your way to middle ground is the first step. Recognize there is no such thing as a “perfect portfolio,” but there is a portfolio that will work best for you. In addition, this article highlights a few other ways to keep your mindset on track:
📌Take the decision out of your own hands – In other words, automate as many financial actions as much as you can
📌Give yourself a deadline – Define a period of time to make your decision and stick to it
📌Consider opportunity costs – Weigh potential loss over the grand scheme of your retirement plan, not just the minuscule aspects
📌Perfect is the enemy of good – Instead of striving to find the perfect answer, focus on making the wisest decision for you
Keep on keeping on: A mentor of mine recently advised me to, “Skip the rock.” Sometimes, you just need to keep things moving. Don’t get stuck, and don’t let the rock sink.