Ego leads to poor decisions and big losses.
Don’t let it get in the way.
A few months ago, I advised a client to rebalance his portfolio. Many of his equity funds were sitting in very good profits. I suggested booking some profits in aggressive ones and moving them to more defensive funds.
He refused. Despite my best trying to explain the rationale, he was not willing to get out of those funds which were doing well and moving to those which were not.
It was his money, after all.
Now, the market has corrected. His portfolio suffered more than others who took my advice.
When I brought this up, he said, “I’ll do whatever I want—it’s my money.”
He was right. But it wasn’t just about the money. It was about ego.
Ego makes us ignore good advice. It clouds our judgment.
In investing, this can be dangerous.
We need to think clearly to protect our wealth.
Having an investment advisor helps us see beyond our emotions. They offer sound reasoning when we feel uncertain.
If you have a trusted advisor, listen to them.
Investing is not about proving a point.
It’s about making smart decisions, even when uncomfortable.
Ego can be a strong barrier. Don’t let it control your choices.
Stay open. Stay smart.
Your future self will thank you.