Beachman's best and worst financial moves

FinHabits: Taking stock of over the last three decades

Mr. Market gave us a lot of food for thought this year. Our portfolios have been pounded since Dec 15th, when the US Fed first announced their hawkish intention to raise interest rates and curb inflation…..”No Christmas rally for you!”

It is natural to question one’s actions and inactions in times like these. Fear sets in and we are not sure any more of what best to do.

So, over a glass of Talisker Storm, my favorite Scotch, I grabbed a notepad and jotted down the table below. I wanted to list what I had done well as an investor and what I did not do so well…over the past three decades.

To be honest, I am surprised that I have not done this exercise before. The results were very enlightening. I am sure I will think of more items to add. Stepping back, this table underscores that….

as investors we are competing with ourselves always…no one else but ourselves…

The information above is self-explanatory. Each of us are at different points in our life journey and we make financial decisions based on what’s available and known to us at that particular moment - time, money, interest, socio-economic-geo situations, emotional factors etc.

On the one hand, it’s easy for me to monday night quarterback some of my past decisions. However, if I had gone down a different path at any time, I could have lost out on something else that I value more than money. e.g. If I had invested more aggressively in my 30s, I would likely not have been able to upgrade to my current home where my kids grew up and we experienced some of our best family events…built up so many lovely memories.

The questions I need to ask myself are:

• What should I be doing more of now?

• What should I improve on going forward?