We don’t like to admit it, but our emotions can sometimes really get in the way of our decisions. Angry that you spilled your coffee down your shirt? Ecstatic that you totally nailed a tough interview? Frustrated from rushing through busy streets to catch your train? These everyday emotions can really dictate how you make decisions and can sometimes lead to making choices that you later regret.
News flash: Investing decisions are impacted by how you are feeling! The choices you make on where you place your money can often be influenced by which particular emotions you are feeling at that moment in time. Thinking about our current and future finances is no small task and is one that we should all take seriously – it shouldn’t be dictated by rash, spur-of-the-moment decisions!
For instance, we may find the act of trading stocks fun and exciting, viewing trading as more of a game than a step in financial planning. As a result, we end up thinking less about the financial impact and end up trading stocks constantly because we find it exhilarating, but losing money in the process.
Or if we don’t want to admit defeat, we may want to avoid selling stocks that have sunk in value all because we want to keep our pride, secretly hoping that the stock will rebound.
It’s very important to recognize that some of our hidden desires can sometimes drive our investment choices. So how do you handle your emotions to make the best investment choice?
One great option is auto-investing. With this option, you set up an automatic transfer from your bank account to your investment account on a regular basis. Then, you specify which fund(s) to invest in and your money is automatically invested whenever it is transferred. iBillionaire has the perform platform for this, and can be set up in a matter of minutes.
Like magic, your emotions no longer play a part in your investing decisions. By mindlessly putting away a portion of your paycheck every month, you can keep your finances on track even when life throws everything at you. With your investments on autopilot you have taken your emotions out of investing and saved you time, all in one fell swoop.
Auto-investing is a really great way to take control of your investing situation and to remove the need for last-minute decisions, thus tempering some of the emotions that get get in the way of your choices. You can take a deep breath knowing that your finances are in order and that you can get on with living your day-to-day life.
What are you waiting for? Get started with auto-investing today on the iBillionaire app – it’s easy!