Monday, August 01, 2005

Me

I am inconsistent.

3 Comments:

At 8/02/2005 9:37 AM, Blogger JLP said...

I think that is human nature. I think that is why so many people have a hard time investing. They set out with a goal and they make an investment. But, as soon as they make the investment it starts going down and they start second-guessing themselves. Then they see another company that seems to be going through the roof so they sell the one they just bought and buy the next "hot" investment only to watch it go down.

Inconsistency can kill a retirement plan.

JLP

AllThingsFinancial

 
At 8/02/2005 9:57 AM, Blogger mmb said...

Have you been spying on me? This, the scenario you outlined, is exactly why I don't check my retirement plan more than once or twice a year. Everytime I see a red next to one of my investments I panic. Of course part of that, at least in my case, is due to ignorance. Knowing that helps though because I know decisions based on fear and emotion will tank my retirement faster than 1 or 2 funds slowing down temporarily so I do my research, make my picks and then stay away. I wish I had that much discipline when it came to everyday spending. That's where I am most inconsistent because I go through some kind of a vicious spend-save-spend cycle.

 
At 8/03/2005 9:21 PM, Blogger Hazzard said...

Welcome to my world..... :)
I agree with JLP. It's human nature. I think the trick is to be consistent over the long term and make sure you recognize the big hitters that can drastically impact your net worth and long term goals. Unfortunately your Saab is probably one of those big ones, but so was my fancy car that I bought, drove for a year, and then because I just couldn't stand all the depreciation I sold it. Took a big hit and swore I'd never do it again. It has been the hardest thing I've done because I grew up loving cars and still do. I just have to set my sights a little lower.

Relative to my peers and neighbors, if I was driving what they are, I'd be buying $35K cars. I'm just glad that I learned to make sure I don't sandbag myself on the really big things.

Hazzard

Everybody Loves Your Money

 

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