The introspection illusion means that you should never let your emotions guide you because our emotions are fluid. Also you cannot contemplate your way towards a coherent meaning of life. Anotherwords, you need to take some action and stir some shit to gain some worldly wisdom.
This is especially so in trading where being swept up by the emotions of the crowds is the surest way to court financial disaster.
While we should not allow emotions to dictate us at work, being too flaky can also ruin play. Some folks I know are always chasing the latest fad in gaming that he is unable to complete major milestones in a game to fully appreciate the RPG storyline.
Because emotions are fluid, it is also hard to gauge the final effects of someone gaining financial independence. A person's conviction towards becoming free from the rat race is highly path dependent. Too much hinges on their emotions interacting with changes in their financial status.
Thus, I may have rethink my own recommendations to readers on how to attain financial independence.
In the past, I advocate accumulating $300,000 for a single person because, invested at 8% yields, you can expect about $2,000 of passive income a month. These days you might need more than $370,000 to achieve the same passive income as yields have compressed and you do not want to just have Soilbuild, Viva and Dasin in your portfolio.
Perhaps a better target would be just to attain an atomic goal of $20,000, which when invested at 6% yields, you could get $100 a month. This is easier to attain and emotionally may mean a quick win within one year of making positive change to your financial situation.
With $100 assisting in monthly payments beyond the need to live from pay-check to pay-check, you can decide later whether you have the mental resolve to accumulate a larger hoard.
It's the small things that make a difference in your lives.
No comments:
Post a Comment