Information is everywhere now. You’re plugged into the Internet. Look hard enough and you can find somebody in favor of and against any action whatsoever. Then you turn round and well-meaning friends and family are there with their opinions too and it’s impossible to tell who is right and who is wrong.
And all the noise that information brings affects you. It makes you scared to invest in your future, it makes you frightened of risks that you have taken, it leads to constant second guessing and it can make you really unhappy if you let it.
You Have To Deal With Information Overload
If you had sat down 5 years ago and invested your money in your future; you would have made a profit in the Australian real estate market (assuming no high risk moves), on the stock exchange, on virtual currencies, on fine art and modern art, on rare wines, etc.
In fact, it would have been hard to lose money on most investments that is assuming that you had some basic knowledge of those investments before you put your money in.
Millions of Australians didn’t invest money five years ago. They were worried about the stock market collapsing, virtual currencies being too new, property markets coming to a crunch, etc. Do you know what happened to their money while the investor’s money was growing? It shrank in real terms. That’s because without growth, inflation makes your money worth less each year.
Low interest rates, in Australia, mean money in the bank doesn’t retain its worth. $100 today will buy more now than the same $100 will in 5 years’ time too, This is something you can rely on, it’s been happening for all of human history.
You have to cut through the noise and take action because not doing so is making you poorer every single day.
Steps To Cutting Out Information Overload
Fortunately, it’s easy to cut down on information overload and here are some simple tips to get you started:
- Choose what investment type you are interested in and focus on that
- Once you commit to an investment, commit for the long-term – daily fluctuations in house prices and stock markets can be scary but the long-term is all upside
- Turn off the information flow, install a site blocker on your net browser, block the tide of information, don’t read the news every day, and don’t switch on the TV to zealously follow tiny changes in the markets. Forget them; you’re in for the long haul.
- Thank friends and family for their advice but unless they are experts in the investment class that you are focused on – you can ignore them. They’re just repeating back the random noise on the internet and the TV. They do it because they care but they probably don’t know enough to give you good advice.
- Trust yourself and your instincts. Most investments are not particularly volatile (even if they may appear that way day-to-day – stock markets and property markets, for example, recover and quickly wipe away any losses, selling at the bottom of a market is to be avoided)
Need Help Conquering Information Overload?
Why not engaged a financial freedom coach like me? I specialize in helping people focus on what really matters, their financial future and not the day-to-day distractions. So let’s begin by you using my Abundant Mind Toolkit, it’s the perfect way to set started.