When you think about your personality traits, what words come to mind? Impulsive? Confident? Organized? Consider how you make investment decisions. Would the same words be appropriate?
Certain psychological characteristics can have an impact on your investment decisions, often at the expense of logic. As a result, investment returns may fall short of your expectations.
Consider the following characteristics. Could any of these be hindering your success with investments?
Comparators, Complainers, and Controllers are the three personality types that might harm an investor’s investment journey and hinder them from having a successful investing experience.
Comparators always look dissatisfied with their investment returns and continually compare them to those of their peers, co-workers, and acquaintances. The “uski kameez, mere kameez, se safed kaise” syndrome is the cause of this. When they are ahead, they simply do not care, but when they are slipping behind, they always complain.
Complainers are investors who are perpetually complaining about the markets, the economy, their adviser, their luck, and, of course, their returns. Such people will never achieve their primary goal of attaining happiness.
Controllers are investors who believe they can exert influence over the ecosystem. They continue to seek formulas, theories, and hypotheses in the hope of outperforming everyone. They also have a bad habit of hiring an adviser but not giving him any authority, instead relying on him to advise him. They appear to know more about investing than even Warren Buffett.
If you have any of the three personality types listed above, you need a professional adviser more than anyone else, because your personality type will be the most difficult obstacle for your investment portfolio.
Happy Reading!!!
Viralkumar Shah (Certified Financial Planner CM – USA)
Financial Happiness and Wellness Coach
