Je Wilson - Fiftywealth Podcasts

In our 50’s, you might think we would know better. Armed with decades of life experiences and decision-making, we reach our peak earnings years full of financial wisdom. Right? Well, not so fast.

If you made investment decisions a few years ago and now your goals have changed, a mid-course adjustment may be needed. Your financial success and life are not linear. There are almost always unexpected positive or negative personal financial events. Regular review of your investing framework and your actual investments keep you on the path towards wealth wellness.

Attempting to out-smart the markets is a common, yet dangerous, practice. Some investors believe that if they can possess “special knowledge” or spot certain trends, that they can “out-smart” the market. This can be a costly mistake. Each day there are literally millions of participants in the stock market and the collective wisdom of these millions helps set stock prices.

Many investors underestimate the role of emotions in their decisions. The range of emotions within the long-term investing cycle ranges from optimism to elation to euphoria at market highs and nervousness to fear and panic at market lows. While it is impossible to totally separate emotions from investment choices, understanding your emotional makeup is a good first step.