Belief #6 – Never Mix Money and Politics

Belief #6 – Never Mix Money and Politics


The sixth belief of
the Wealth Multiplier is never mix money and politics. Most don’t keep what’s
happening in politics out of their money choices. Instead they make decisions
based on what’s happening in the political world. But mixing your money in
politics is a good way to end up with less money. For example, I recently
had a client order me to sell them out of their investments because they were afraid of the
current political situation. Despite the fact that her
investments had actually gone up, her fear about the
current political climate had her making ill-adviced money choices. And every four years, I have
clients sell out of the market because of the fear. That choice costs them and
for close to half of them, they still aren’t back in the market. So it’s still costing them money. But it’s not their fault, though. The media has us twisted up
in terror over the future. I mean, how many times can you hear the sky is falling! The sky is falling! Before you believe it and run. You need to divorce your political fears from your money decisions. It’s not easy, but here are three tips. First, turn off your TV and stop checking your investment
balances on a daily basis. While you don’t wanna be in the dark, the more you watch it, the
more that fear will take root. Second, get behavioral coaching from a fiduciary financial advisor. They are legally bound to
act in your best interest. So if fear screams sell,
they’ll tell you no, and walk you through the emotion. And third, remember that this time probably isn’t any different. The media has been
screaming the end is nigh since its inception. Cavemen probably read the same attention-grabbing
predictions of doom on their stone tablet newspapers, okay? That’s a slight exaggeration,
but you and I know that fear sells and the media uses it. Orange man bad, anybody? To get the rest of our beliefs, click the link in the description.

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