Copyright 2015: Earl Pabellano
All Rights Reserved
Many things in life require making difficult decisions. Whether it may be moving to a new place, starting a new job, or starting a new chapter in life, difficulties exist. Adding to the complexities of decision making is an object, a trait, a powerful mechanism within us all, fear. Fear exists within us as well as within the circumstances surrounding choices that need to be made. Fear itself is a very general trait within us that can overpower our lives. Specifically, you can have a fear of failure, fear of rejection, fear of embarrassment, etc. No matter what specific fear, it is there and can impact or hinder the choices we make or need to make.
What would have happened with conflicts or wars if all the soldiers involved were too scared to do anything? Perhaps those wars would still be ongoing or would have escalated to much larger conflicts. What would have happened if medical researchers were too scared about the consequences of their findings? We probably would have less vaccines or medicines and more deaths from untreated illnesses.
The same goes for investing. Would the Rockefeller, Getty, or Pritzker fortune have been created if they were too scared to try pursue their ventures or expand their businesses? The answer would likely be “no”. With fear ruling your mind, you will end up not taking action. This leads to missed opportunities like certain experiences in life. For our purposes, fear leads to missing chances to improve your portfolio’s returns. Also, you can miss opportunities that exist in the current cycle of the markets to make money.
In order to conquer your fears, you to look at the bigger picture. Fear exists because of what is unknown. Therefore, to reduce your fear, you need to research and understand better what you are getting into and investing in. Once you understand that, your fear will be mitigated and you can properly take action. Also, you can work with others to invest your money. Working with someone who has the understanding and the drive to put your money to work can significantly reduce your fear, as well as create passive income for your portfolio.