This week I’m in Orlando, Florida, getting ready to speak on Saturday at The Money Show. On Thursday, Friday, and Saturday I will also have the opportunity to interview various strategists and experts for StockChartsTV.
A few months back I ordered a new pair of glasses and I am finally just now getting around to start wearing them over the last week. It was a new prescription and if you have ever worn glasses and had your prescription change, you’ll know that there is a period known as the ‘adjustment’ period. It can be quite disorienting and possibly nauseating because your eyes are used to your old prescription and now need to adjust to your new prescription.
Despite knowing how badly I needed to go through this adjustment period with my new glasses, I avoided it because I was afraid of that sensation and change. I also knew that after that period I would be much better off with my new prescription.
It’s funny how we tend to do the same with life in general, from a professional standpoint. We might need to change positions, a job, a new set of goals, moving to a new location, learning a language, etc., but we avoid it because of that difficult transition period.
As investors I believe we tend to do that same thing, maintaining our current habits, that getting to that adjustment period and what we know is probably a better place is difficult. The change and nauseating sensation is what makes making that change so difficult even though we know we will be better off after making that change.
My challenge to you is to ‘change your prescription’. That thing that you know you should probably do, take that first step by thinking about a plan to get through that adjustment period. Even though it may take a few hours/ days/ weeks, think about what things will be like afterward and how it will be worthwhile in the end.
RR#6,
Dave
Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. Please see the Disclaimer page for full details.