Part 9/11:
So, what can be done to promote a healthier investment approach? Here are strategic recommendations for both new and seasoned investors:
Focus on Inputs, Not Outcomes: Concentrate on factors you can control, such as your savings rate and investment contributions, rather than obsessing over portfolio balances.
Track Progress Toward Goals: Shift the perspective from monitoring net worth to assessing progress against specific financial goals, such as debt repayment or retirement savings milestones.
Reduce Frequency of Statements Checking: Limit how often you review your investment statements, which can help minimize anxiety related to market volatility.