Striking a balance in your investment portfolio reduces future regrets
We often underestimate how much we are going to change. We are equally terrible at predicting the future. I had a YouTuber that I met a year ago. He was juggling running a YouTube channel and being a doctor. He was doing great at both until a year after I met him, he decided to ditch his medical career and concentrate on his YouTube business full-time. This came with a lot of changes like an apartment, equipment, delegating certain roles to other people, etc.
Source
I am not telling you about him because he is a successful YouTuber, but I do want to point out how the world places a lot of emphasis on people who study medicine, how they hold them in high esteem, and how this guy got a lot of backlash from his fans and how some of them unfollowed and unsubscribed because he left his medical career.
We all know how much energy, time, and resources it is required to study to become a doctor. And how even when you are done with school, you still need to put in long hours at work to make ends meet and recover all of the money you invested in your education. People would see all of the hard work one is required to put in, then will feel ashamed of you and upset about your decision to leave the medical field and pursue something else. They might even consider you a failure.
But what most people fail to come to terms with is the fact that as long as life continues, People Change. What you use to feel revitalized and energetic about yesterday might be something to dread waking up to the next day. And it's at this point, that you start being on the lookout for something different.
A lot of people do not always have the confidence, boldness, or courage to take that U-turn because of what others will think of them or because of the sunk cost. And there are people like my YouTuber who wouldn't give a damn about what others think and take the turn, damn the consequences.
If you don't have sunk costs, it's easy to take a turn and look for alternative ways to spice up your life. But if you do have sunk costs, it might be difficult to take that turn. Therefore, it's important that no matter what you want to do or the investment portfolio you want to put your money in, you find a balance.
Always imagine how you might likely change in the future, how disrupting your portfolio can cause damage to your compounding interest rates, and try to strike that balance. Avoid the extreme end of financing planning by being moderate with these things. If you are moderate about them, there will be fewer regrets when you want to start afresh.
By being able to strike a balance with everything in your life including your finances, you will be able to avoid future regrets and this will encourage endurance because you will be able to withstand the pressure of liquidating your portfolio when you are almost suddenly bored or weared down.
More from iska
What the pending job cut at Credit Suisse can teach you about preparing for uncertainties
Invest in something cared about, and there can't be a loss
The quickest way to have less money is to spend it to show people how much you have
Controlling your time is the biggest dividend money pays
The Surprising Role Luck Plays in Building and Sustaining Wealth
The Key to Thriving in Financial Turmoil and Uncertainty: Having a Solid Plan
Don't Wait for Tomorrow: Start Making Money Today and Secure Your Financial Future!
How the community can help LeoGlossary Authority with Manual Backlink Auditing
Did you know LeoGlossary helps you Optimize Anchor Texts?
How using Leothreads to share posts with LeoGlossary as backlinks helps with ranking
Building High-Quality Backlinks with Leoglossay
Posted Using LeoFinance Beta
