SELLING LOW IN A PANIC SUGGESTS AN INVESTOR DOESN'T
UNDERSTAND THE BUY¥AND¥HOLD STR ATEGY THAT ACTUALLY WORKS
IN THE STOCK MARKE T, NOTES KIPLINGER COLUMNIST JAMES
GL A SSMAN. AND THAT'S WHAT MILLIONS OF INVESTORS DID DURING
THE TUMULT OF 2008¨'09, LOSING BILLIONS OF DOLL ARS.
THE IMP O RTA N CE O F PE RSE V E RIN G:
BY HALEY BALDWIN
LONG ‡TERM FIN A NCIA L SUCCE SS requires persistence, says Jim Dahle, MD, FACEP, who blogs at whitecoatinvestor.com.
Dr. Dahle suggests tips for developing the patience to achieve your goals.
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Take delight in the journey. Reaching
a p a r t i c u l a r o b j e c t i v e i s n o t t h e
on ly enjoyable a spect of the road to
f i n a nci a l s e c u r it y. L e a r n t o s avor
the entire process — from mapping out
a plan to spending wisely — and ta ke
pleasure from the knowledge that you
are on your way to success.
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Simmer down. Obsessi ng
about how fa r you a re from
reaching your goa ls leads to
frustration. Distract yourself
with something that brings
y o u p l e a s u r e , s u c h a s a
hobby or a renewed focus on
your relationships.
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Don't unduly deprive yourself. While
it is important to budget, don't do so in a
way that makes you feel as though you
were perpetually missing out. Constant
feelings of deprivation and sacrifi ce will
increase the probability you will give
up on e orts to live the life you really
want to be living. ■
You Can't Rush Success
M D N E W S . C O M /// M D N E W S C EN T R A L N E W YO R K
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