Wealth Mindset: ”How do I overcome the pain of losing money when investing?”

Overview

Phillip breaks down the topic of losing money in investments into two categories: permanent loss and short-term loss. He emphasizes the importance of having the right mindset when dealing with losses and learning from them to grow and expand.

Timestamped Chapter Summary

• Introduction of the topic (0:00:01)
• Mindset and learning from losses (0:02:17)
• Overcoming permanent loss (0:03:02)
• Short-term loss and the importance of mindset (0:04:48)
• Learning process and building confidence (0:06:16)
• The importance of investing on principles (0:06:43)
• Finding the principle and building confidence (0:07:16)
• Connecting the dots and having faith in the principle (0:08:05)
• The market reflects the mindset of the collective (0:08:36)
• Investing on principles and the learning process (0:10:30)
• Your wealth comes from you (0:11:32)

Relevant Links and Resources

• Wealth Building Made Simple Newsletter (https://wealthbuildingmadesimple.us/)
• Stone Hill Wealth Management (https://stonehillwealthmanagement.com/)

Quotable Phrases and Takeaways

• "The wealth that I'm going to attain comes from my mindset." (0:03:02)
• "There's a learning process for everybody. It's part of how we expand. It's part of how you grow." (0:05:21)
• "Don't beat yourself up. You learn. Move forward." (0:06:16)
• "Invest in principles. And when you make a mistake, don't live in it. Move forward. Know it's part of the process." (0:10:30)
• "Your wealth comes from you because you are the wealth." (0:11:32)

Social Media Handles 

• Follow Philip Washington, Jr. on Instagram (@askphillip)
• Subscribe to Wealth Building Made Simple newsletter (https://wealthbuildingmadesimple.us/subscribe/)

Phillip Washington, Jr. is a registered investment adviser.  Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies.  Investments involve risk and, unless otherwise stated, are not guaranteed.  Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.