6 Questions to ask yourself in case you feel the urge to Sell?
I have written some key questions that you should ask yourself and write down the answers.
1. Why do I feel like Selling?
- Feel like Doing something
- Don’t want to look like a Fool
- Protect Myself
- Any other
Elaborate on any choice that you make.
2. Have I borrowed to invest?
If the answer is NO, then you can read the next point as you have 1 lesser reason.
3. Do I have enough money for the next 6 months?
If it is Yes, then 1 lesser reason again.
4. What if I did not look at the markets this year, continued with my investments and saw it next year? What would have happened?
5. Is my Lifestyle impacted in any way and will it improve if I sell?
6. If I panic and Sell, what are the consequences of this on my financial life? (Just some thoughts as there are many – Turn my temporary declines into Losses, Not reaching my goals…).
I would love to hear from you…
P.S. People investing in stocks are owners of companies. You have to understand that you own a diverse portfolio of companies (through your Mutual Fund) … Just ask yourself “If I owned different businesses, would I sell buy, sell, then buy and sell again when the going gets bad or good. Do you think this is how it’s done?”
Never. You got to stick through the rough times to enjoy the great times.
You must get Comfortable with being Uncomfortable…
P.S. P.S. The Only Place where people don’t like a Massive Sale is the Stock Market.