A Simple Guide to Money in These Uncertain Times

None of us are immune to our own psychology when it comes to money. Any of us can make a bad decision about our finances if we don’t prepare in advance for what is to come.

Here is what Tim’s story can teach you about the psychology of money and how to manage yours, so you don’t lose everyt...

Sometimes knowing lots about money can be a disadvantage. You can start to hypothesize and overthink the entire world of finance and do your head in, in the process. That’s what Tim describes it felt like recently.

You can bet the market is going to go down because of something like a pandemic by shorting stocks (betting stocks will go down). During uncertain times, the situation can change rapidly.

The markets can be extremely volatile and that can cause unexpected losses. Unless you are a profession...

If you are in a hurry, then that is a sign of desperation. Does desperation sound like a good state of mind to invest your life savings? Probably not.

If I feel rushed to make a decision…the likelihood of me making a bad decision is very high. And the cost of undoing that bad decis...

You can act like a sucker when you think you’re smarter at investing than Warren Buffett. There are other ways to make money outside of investing.

There are opportunities everywhere. There are endless chances to make money. Tim recommends going after the ones that exploit your core competencies and are the most appealing to you.

He argues you can miss plenty of opportunities and only take advantage of a small few and net-net still do ...

There is a cost to everything you do. Investing your money and worrying about it all the time has a psychological cost. It’s all fun and games until you play and it’s your own money. Then, stress takes away some of your brainpower that you can use to be creative.

That is a huge cost that ca...

Think about what it’s going to feel like when your investments take a hit. Preparing for major events like a recession can help you handle them in the future. Looking at prev...