According to the urbandictionary.com our ego is responsible for hate, fear, and delusion.
They further suggest that ego was perhaps necessary for survival in some evolutionary bygone, but in modern times it leads only to (albeit often disguised) misanthropic beliefs and delusion.
Choosing the Right Investment Vehicle
When looking for ways to best save our money, choosing the right investment vehicle is just one time when our ego can convince us that we haven’t done enough research using a variety of excuses to ourself however the one true reason is because: it doesn’t like the unknown.
- Read every piece of property media and felt overwhelmed with the conflicting trends?
- Saved for the right investment opportunity, but never found one?
- Inspected countless websites, just to get a feel for investments?
- Been waiting for the “right time” for more longer than you care to say?
Analysis paralysis or the state of over-thinking a situation and can stop you from ever making your life better!
Theresa Rose suggests that we:
- Set the timer. Give yourself a defined period of time to finish the process of data gathering.
- Listen to your gut. What does your instinct tell you to do? What option brings you the most satisfaction and joy? What feels right?
- Ask for a second opinion. Run your arguments past an impartial trusted friend or colleague. Make sure you don’t choose someone who wants a particular outcome or who will tell you only what you want to hear.
- Do a mental dry run. Mentally play out your decision exactly as you wish it to be. Mentally replay this imaginary outcome over and over again until you feel utterly confident in moving forward.
- Take the leap. Make a commitment to act by a certain date and follow through on your commitment without hesitation.
You will still have fear and doubt running through your head but so long as you expect it and know that it is nothing only your ego trying to stop you going into something different.
All great leaders hear that same nagging voice, yet they choose to act anyway.
You can do it, too!
Paul Wilson says “In my experience with clients who suffered from Analysis Paralysis, I can confirm that the most common repercussion of the syndrome is the feeling of regret. No money could buy back the time they spent over-analysing every aspect of their (non-existent) investment journey.”
I listened to my gut a few months ago and with a certain amount of fear I joined a crowd investing platform and invested in my first property. I felt good, relieved I no longer had to make choices. Since then the profit return has also been good so I’m proof that action beats no action.
Go well till the next time
- Paul Wilson has more than 15 years’ experience as a successful property investor and mentor. He is the managing director of We Find Houses, a company providing services to property investors and homebuyers.