Yes, it is possible to be comfortable financially. Everyone wants to “be rich”, but comfortable is definitely more achievable.
The Plan
As noted in many posts here, I do have a plan I stick to. Do you? What is your plan?
And of course you may be familiar with the famous saying, “If you fail to plan, you plan to fail.”
Having a plan helps calm me, reducing the need to chase every new thing that comes along. When I was first starting out, I was unsure in which investing direction to go, Should I buy and quickly sell? Should I do options? Should I follow some particular financial writer’s recommendations? Should I subscribe to some newsletter that would tell me what to do? And so on.
When I encountered the method I did chose, I felt relief. No longer would I need to be anxious about which way to turn. No longer did I have to fell totally subjected to the whims of people telling me what to do. I had my own plan, my own path, and I could ignore all the screaming and yelling from all the salespeople on Wall Street.
And so it is today. I ignore all exhortations to spend money on anything other than what I am focused on.
Volatility or Not
One of the major benefits of having a plan is that I can also ignore the volatility that periodically engulfs the stock markets, When prices go crazy, I do not panic and sell. I watch and wait. In fact, during major market declines, I keep an eye on my list of stocks and the prices at which I would consider buying. It is likely there could be opportunities then to buy at a discount.
Choosing
Is it possible that sticking to a chosen plan is more important than which plan one chooses? I have no clarity into that question. What I do know is the path I have chosen fits me. I feel safe and happy in my choice and the results. My plan may not be right for you or anyone else, but the important thing is that it is right for me. So I suggest that you determine whiah path is right for you.
Over the many posts I have outlined and described what my plan is and how I implement it. It does not requires inordinate amounts of time, nor is it difficult or complex. While I have hopes you would be interested in the way I invest, I am not invested in whether you invoke the same plan or not. What this post is about is simply to describe the relief and comfort one can gain by having a solid plan.
So in this measure, I label it a ‘Success” if a plan is in place.
Do you have a plan? What is it? Let me know here.
Thomas Jefferson’s signature, 1792, from a letter he wrote to the Governor of Pennsylvania. As was common in this times, he ended the letter with “Your Excellency’s Most Obedient and Most Humble Servant,” Courtesy New York Public Library.
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