Dog Tales September 2023

Toby has a confession to make.This month he was doing very well at making steady progress towards his weight loss goal – agoal that he knows deep down is important, no matter how much he wishes he could snaffle afew extra treats.But then, Toby saw an opportunity. A sandwich – succulent ham, juicy tomatoes – left brieflyunattended on a desk. It smelled amazing. His little canine nose was aquiver, and before heeven knew what he was doing, his instincts had kicked in and he was atop the table, sandwichfirmly within his jaws. Glorious, glorious ham sandwich, Toby thought.However, although that sandwich tasted wonderful, the momentary enjoyment he gotfrom it was outweighed by the scolding, the setback in his progress, and the guilt fromhaving let his instincts overtake his senses. This is a very good example of how knee-jerkinvestor behaviour is often the single biggest negative impact on a person’s investments andgoals.Seeing the markets spike up and fall down may cause you to falsely see opportunity, just as Tobydid, and prompt excitement or fear that may cloud your judgement and lead to rash decisions.Except rather than a single sandwich being at stake, it could be the difference between achievingor not achieving the retirement you want.As difficult as it can be to ignore the movements of the markets, it’s important to remember thatsticking to your plan is the best way to achieve your financial goals.And no matter what, it’s always best not to steal sandwiches that don’t belong to you.