Tough markets out there right now.
How are you coping?
The journey towards building wealth starts with the battle between your ears.
๐ฆ๐๐ผ๐ฝ ๐๐ฝ๐ฒ๐ป๐ฑ๐ถ๐ป๐ด ๐๐ผ ๐บ๐๐ฐ๐ต ๐๐ถ๐บ๐ฒ ๐ถ๐ป ๐๐ผ๐๐ฟ ๐ต๐ฒ๐ฎ๐ฑ!
Instead, increase your exposure to humility during markets like these.
Here is what I tell people who get nervous about the investments in an environment like this:
โย Focus on your JOB. Go to work, make money, save a bit, donโt stop dollar-cost averaging & things will work out in the long run.
โย Youโll never regret investing too much into a broad-based index fund (especially not when it is on sale & 20% cheaper than a few weeks ago).
โย Acquiring assets makes compound interest your friend. Acquiring liabilities makes compound interest your enemy.
โย Saving your first $100,000 is the hardest. Not magically, but mathematically. Once you cross this threshold, you reach a tipping point whereย compounding starts to work for you. Prior to this, most of the work is done by your savings rate....