OK, so…if you own stocks, it has been very, very painful over the last two months. No two ways about it.
Some companies gave back gains that took years to amass in a matter of months.
What we must remind ourselves to do at times like this is focus on the long term.
The success of an investment is not measured in weeks, months, or even years. It’s measured in decades.
Remember my post last week on compound interest that turned $100 into $5000 over 20 years? That’s how successful investing is measured.
I know it sucks to watch your account lose money every week. I know! But remember why you bought those companies. If nothing has changed with the fundamentals of a business, you may now have the opportunity to buy more of that companies on sale.
The only term we care about is the long term. That’s what investing’s about, and that’s what leads to financial freedom!
Click the image of the book at left to be taken to its Amazon page. (Disclosure: As a participant in the Amazon Services LLC Associates Program, I earn a small commission on each sale generated through these links.)