Posted by Tim Stobbs on May 4, 2009
I may have just shot my own foot off. I don’t know yet, but I should find out in another year or so. You see I should have rebalanced our RRSP portfolios back in January, but with the market in free fall at that time I decided to hold off. I was still scared of losing more money.
Then recently a bunch of little things made me think about it. There was not one thing that changed my mind, but several articles here and there which reminded me: there is never a right time to do it. If I don’t do it I may miss out on some lower prices before things may move up. Also things could drop again and I might miss that too. So I’ve slowly rebalanced over a few weeks and took the risk. I might get burned and I might make money on it.
I’ve started to realize that I was trying to time the market, which is a bit silly to try. There is never a perfect time to invest, there will always be better times and worst times too. So I got over my fear and stuck to the plan (later than normal, but better than never). I invested my money and I’ll take what I get. I’ve accepted I can’t predict much of anything with the stock market so I’m best to just invest regularly and play this out for the long term.
How is your mood with investing? Still fearful or have you been optimistic and buying?