Over and over I hear people express to one another "Oh, this economy" while shaking their heads in disapproval. When the stock market plunged this past week, oy, the heads shook some more. What has been your reaction upon hearing the Dow drop?
You know, it seems like everyone wants to get rich, or at the very least, have more money than needs. But few people are willing to follow the advice of those who have blazed their own trails and became rich. The public wants to be wealthy without actually having to do what wealthy people do, or did, to get there. (Having backed out of several experiences that required me to stretch out of my comfort zone, I will throw myself in that group.)
One of Warren Buffet's most popular piece of advice is "Be greedy when others are fearful and fearful when others are greedy." (Buffet uses "greed" as a play on words referring to the timing of when one should invest most and not as actual advice to adopt a negative personality trait.) We've all heard it before: "Buy low, sell high." But for some reason, a large segment of the population forgets this common sense when it comes to actual investing. They freak out and sell when things are priced low. They are relieved when prices go up, and they buy high. Have you seen this before?
Then, there are the people who say they do not have money to invest, but then lament when the stock market goes on sale! When the market plunges, it is is essentially a sale on investments! We seem to become more excited about a sale at Old Navy than a sale on retirement.
Become wise and think independent of the media. Do what financially-blessed people do. Pray and ask for inspiration. Rarely is public opinion in alignment with God's answers. Sometimes, blessings come in bear's clothing.