Fear is a powerful emotion. It’s quite an unpleasant feeling which can be triggered by the whole perception of danger. And probably the most dangerous or risky field these days is that of investments. With the global economy taking a severe hit due to Coronavirus, investors have suffered significant losses. Some have even given up the hope of recovering their invested money.
Under such circumstances, it’s only natural for someone in the investment arena to start fearing the whole concept of making investments. But according to experts, taking a back seat during these times will only hamper our savings and money-making capabilities in the future. The key lies in combating investing fears as much as we can and keep moving forward.
Read – How to Combat Fear of Risk, Loss, & Regret in Investing
Renowned psychologist Daniel Crosby puts forward tips investors can use to overcome their fears in these uncertain times:
Let your fears be your teachers
Fears are like failures. Just like failures teach us valuable lessons to succeed in life, so does fear. If you’re scared of a situation, prepare yourself to face it in the best way you can.
For instance, if you’re a financial investor and have consolidated investments, your trepidation might be higher as your risk is centralized. On the contrary, if you have diversified risks and assets, you might feel more at peace.
Delay is unfavorable
It isn’t sensible to avoid an event just because you are afraid of the consequences. Avoiding a financial reality may lead you to deprivation.
Postponing something only gives more power to negativity. Hence, you must be courageous to face any ball game with confidence. Why delay paying the bills? Instead, pay them off at the earliest.
Read – 10 Timeless Investing Principles
A positive attitude
It is rightly said, “Fake it till you make it.” You need to have a positive approach to the fulfillment of your financial surplus. It would be best if you saw the glass already full. Believe that you already have plenty of resources to plan your future ventures. Once you start feeling successful, success will be around.
Connect with others
To reduce your fears, you should build a lot of connections. This can have several advantages. Firstly, such people will put you at ease by advising how to deal with adverse situations.
Secondly, they might lend you a helping hand if you’re in need. And thirdly, they may boost you up and reduce your worry by accompanying you and understanding you. Moral support can do wonders in reducing the distress caused by fears.
To sum up
There is nothing that you can’t achieve. You just need to learn to master your fears and overcome your anxiety. If you’ve been successful in the investment field for years, why be scared now? Just keep focusing on the positive and continually move ahead with confidence.