In layman’s terms: Discipline and planning are key.

You need both discipline and planning to get to your investment goal

🌰 In a nutshell: Once you set your best plan, don’t lose your perspective relative to the changing market. Be disciplined in making the timely move to keep your plan relevant to the current market in order to meet your end goal.

Understanding planning and discipline🧐

Think of your favorite athlete, musician, dancer, scholar, or someone who has accomplished something of value. Regardless of their fields, we all know that discipline and planning are required of all of them.

Becoming a successful investor is the same! You need to exercise your discipline and plan your move strategically to get to your financial goal!

What are planning and discipline in investment?

Before moving further, let’s first get the big picture.

We will first list what is included in each of these principles. Then, we are going to hammer down one concept at a time.

Planning 

Investment planning often includes the following:

  1. Know your goal and set a realistic time frame.
  2. Set the best plan that fits your investment persona.


Discipline

Staying disciplined means keeping the market’s trend in perspective and deciding on your moves accordingly in a timely manner. To do that, you need to do the following.

  1. Understanding the importance of risk management
  2. Review and rebalance to stay aligned with your goal

keeping the market in perspective is key to investment success
Keeping the market in perspective is key to investment success

Up next,

Let’s find out why it is important to know your goal and time frame. 
Hint: when it comes to investment, time is money #compounding_is_the_best

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