Don't sink your ship

One of the easiest ways to destroy one's portfolio is by constantly entering and exiting stocks. A primary reason why several have made billions in the stock market is because they bought and held the stocks for at least a decade. Whether a lump sum or an SIP, anything will grow only if an investor gives it enough time. Patience is the ultimate test that many investors seem to lose. Several behaviroual biases are attached to it, making it a lot more complicated. Realising that one can retire on a yacht in three decades can help cool one's nerves in times of tension.

This article was originally published on September 15, 2023.