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A question you may have asked yourself is:
“What is the best investment strategy in retirement?”
It is a question I get a lot and one I have asked myself as I am turning 56 next year.
It is a strategy I already sent you
Last week it dawned on me that it is a strategy I wrote to you about already…
You may remember the back tests we did to find a great large cap investment strategy. Based on the market beating returns we started a second newsletter, but more on that below.
This month you can read an article on the exact process we use to find investment ideas and how you can do it as well.
Click the link below to read more…
Now for this weeks Mind Game idea...
The Mind Game
Rule #4: Decide what is enough, find your goalposts
How much money is enough for you?
“More than I have now”
Is not a good answer. This is because at some point we have enough and an insatiable need for more will lead us to regret.
Ever tried eating until you are sick
Morgan Housel in his great book The Psychology of Money gave this example:
The only way to know how much food you can eat is to eat until you’re sick. Few try this because vomiting hurts more than any meal is good.
For some reason the same logic doesn’t translate to business and investing, and many will only stop reaching for more when they break and are forced to.
We MUST get the goal posts to stop moving. If not we will only stop when we break. I do not want that, and I am sure neither do you.
There is a time to stop taking BIG risks
When you are young and have a long working life ahead of you taking large risks with a big payoff makes sense but at some point, when you have enough it is a bad idea.
Why risk what you have and need for what you do not have and do not need!
When you have enough it is time to
When you have enough it is time to diversify, follow a good enough investment strategy (a “best” strategy does not exist) so that you become unbreakable as I wrote to you in last week's newsletter.
Your retirement investment planner wishing you profitable investing
PS We have not added the new newsletter to the website yet as we are still finishing it off, to get a free copy just send us an email (click on the Need Help button) and I will send it for you to evaluate.