Sometimes You Miss It

So, it’s February and we have already completed one month of 2016. My goodness, why is time moving so quickly? Now, I’m sure you’re wondering what I missed this week, right?  The truth is that I missed buying an exchange traded fund, or ETF, at a cheap price. Don’t roll your eyes at this first world problem because when it comes to your money, acting swiftly on investment decisions will help you build wealth over time. And, you can empathize with missing sale, albeit an airline flight or a winter coat.  In my case, I had been eyeing the price of an energy ETF (Ticker: XLE) all last week so that I could buy it on the cheap. I think energy stocks will be a solid bet over the long-term. Things got so busy at work and while the ETF got down to $54.35, I did not buy it. The very next day, the ETF’s price was up big and I felt like I missed the boat.

Feeling like you’ve missed the boat on your investment decisions is completely NATURAL and expected, whether you’re buying an ETF, planning a date with a financial advisor, or rebalancing your 401k retirement plan. Here’s my tip…

Set Up an Appointment With Yourself

One of the best ways to increase your chances of executing on one of your investment “to dos” is to set up a calendar alert for yourself for successive days. I did this in the days following my own mishap, and….I bought my ETF. I did not buy it exactly at the cheapest price over the last week because it is hard to time the market, but I did get it near its 52-week low.

The key thing is to not get caught in the self-pity glut, but instead prepare to execute the next time an opportunity presents itself.  Even the best money managers miss the boat on any given day. And, one of the reasons why they’re “the best” is because they get over their mistakes very, very quickly.

Share the Good News

Do you know someone who’s missed the train on an investment decision? Please send them this blog or leave a comment below on what you are doing to not miss the train.

Be a Badass

Yup, I said it - Badass. You might have been one of these as you shoveled some snow this weekend. But, for today’s purposes, I mean a Badass with your money. This weekend, I watched The Intern, appropriately named for the senior intern position given to Ben Whittaker, played by Robert DeNiro. Trust me - it’s a funny movie! Ben emphatically describes CEO Jules Ostin, played by Ann Hathaway, as a Badass because she runs her online fashion business with persistence and tenacity.  

And, yes, you too have the opportunity to be a money Badass. Let’s not forget that you are the CEO of your money. Embrace this term because it means that you are doing everything you can to put yourself in a position to take action and set yourself up for success.

 

3 Badass Moves You Can Make This Week:

 

Get High Value At Low Prices. I’m borrowing this action item from a list of Warren Buffet’s top pearls of wisdom. His advice is appropriate for times like this, when the market is tanking. Now, you can take advantage of low prices with exchange traded funds. But, for those of you who have an appetite for individual securities, now might be an opportune time to find some goodies. I’m looking myself!

 

Get A Better Airline Credit Card. I don’t know if you’ve noticed, but credit card rewards are not as good as they use to be. If you’re like me, you’ve tied to use your credit card to rack up airline miles. The problem is that airlines are not parting with their miles as easy as they use to be – my United and Southwest airline points just don’t allow me to go anywhere I want to go when I want to go. Here are several recommendations on credit cards that provide better rewards for dollars spent.

 

Tell Someone You’re a Badass. Tell a family member, friend, or colleague ….”I’m a Badass.” Yes, be proud of your decision to take control of your money.

 

Remember, this year is all about taking action. Get yours!