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When it comes to long-term investing, my good friend and author of this article, Joel Johnson, says it best: “… Slow and steady will win the race.”READ THE ARTICLE
Taking the gamble: In today’s world, an astounding number of things can be accomplished at the click of a button, and that includes investing. Online platforms make it easier than ever to stock trade or peruse and purchase the latest cryptocurrency; however, despite what might feel as an exciting win doesn’t always lend well when our emotions come into play.
Patience pays off: Impulse optimism or FOMO (fear of missing out) can cause stock speculators to make poor investment choices based on short-term profits. On the other hand, professionals who specialize in long-term investing utilize a methodical, researched approach that supports an overarching financial goal.
Big risk, big reward? You will rarely meet anyone who genuinely became rich by picking the right stocks or taking big risks. On the other hand, you will meet plenty others who leaned into the saying, “It’s not what you make, but what you keep.” This is not to say you can’t take a gamble from time to time, but it should not be your core strategy for wealth accumulation.