How to Overcome Your Investing Fear
Time to set some goals, let go of the fear, and spring into action!💪🏽
We’ve all experienced fear. We all know how debilitating and paralyzing it can be. Anxiety can stop us in our tracks. The thing about fear is that it comes from the unknown; the uncertainty about possible future outcomes. I am no stranger to fear and anxiety, yet when it comes to investing, the fear is not there. When and how did that fear go away? When did it stop being present? It simply comes down to KNOWLEDGE. When I first started investing, I was terrified out of my mind. Even though it was a small amount of money, the idea of loss had a tight grip on me. So how did I overcome that and pull myself into action?
Understand your why. As humans, we’re more motivated if we understand why we’re doing things. It provides clarity for the work we’re about to put in, especially if it requires building new habits or doing new things. Really sitting down to think about what I wanted and the possibilities that would come if I embarked on a journey to take care of my finances really inspired me to proceed. Set those goals early on and keep them in mind when you feel scared or discouraged.
I spoke to experts. By experts, I mean a dear coworker of mine who loved to study and invest in the stock market. I started to pick his brain, and the more I asked the more I learned. You will be amazed at how many people are willing to help if you simply ask. He provided me with websites and through our conversations I learned keywords to look into. If you don’t have any friends or family that are well versed in the financial literacy field, go to step three.
I started using social media to learn. Instagram to learn? What? Yep, instead of following all of the new LA restaurants, my feed changed to experts and other folks who were on a path to financial freedom. Following these folks gave me the motivation to dive deeper.
I dove into research. Yes, research. Now, I know what you’re thinking. You’re busy. It’s boring and not for you. I get it. However, unless you win the lottery it’s unlikely for you to be on the path to creating wealth. You need the knowledge to know what to do with your money (and even if you do win the lottery who’s to say that money will last if you don’t know how to manage it). There’s no way around it. I don’t mean spending hours on end to learn this stuff. Even 10 minutes here and there reading financial news to get an idea of what is happening will help immensely. The research part is critical to getting rid of the fear, because guess what? The more you learn, the more your confidence builds, and the greater your confidence, the less scared you feel about possible outcomes. Knowledge is so literally powerful!
Tell people you’re learning this stuff! Once I started to tell friends I was diving deep into investing, I found many other friends on a similar path. This helped me create a community of people to talk to. Support is very important; not only for the emotional and psychological support, but also for accountability. Once you share with others your intentions they are out there in the universe for them to happen. I’m a true believer of growth in community. We become the best versions of ourselves with the help of others, and this path is no different.
