If You Don't Know Your Numbers As An "Investor" You Are Gambling

Making informed decisions is vital to success in every aspect of life — business, and investing are no exception. One of the critical factors in making informed decisions is knowing your numbers. 

In this episode, we will dig deeper into the importance of knowing your numbers in business and investing and the risks of not knowing them.

In business, making data-driven decisions is crucial to success. In my experience, businesses that made data-driven decisions were the most successful. 

So, understanding your goals, milestones, and risk tolerance in making investment decisions is necessary, as knowing your numbers enables you to determine when to cut your losses and when to take profits. 

Knowing your numbers is also essential in building investment strategies. It stimulates you to build your strategy off worst-case scenarios, knowing what you can guarantee for yourself. However, not knowing your numbers can be disastrous, as it can lead to catastrophic losses. 

Remember, being undisciplined when investing can make you lose a lot of money. 

In a nutshell, it is essential to be disciplined and stick to your numbers and plans. 

Let's discuss more of this in this episode, and see you on the inside!

Episode highlights:
00:00 Welcome to The Boring Money Show
00:05 The importance of knowing your numbers as an investor.
1:22 Knowing your numbers keeps you safe.
3:08 The risk of now knowing your numbers
4:17 Having a solid understanding of your numbers makes you more conservative when building a plan
5:49 Know your risk tolerance and your rate of return
10:44 The essence of having a mentor in investing 
12:43 Learning from people who know more than you and discerning whom to place your trust in.

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And remember… Stay calm, print money and live life on your terms.

DISCLAIMER:
All information I share is NOT financial or investment advice and is purely intended for entertainment and educational purposes only. Always seek professional advice before acting on any financial decision.

 

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