Welcome to Wise & Wealthy: A weekly newsletter full of proven ideas to become smarter and wealthier. I send this every Monday.
#61 – March 13, 2023
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Wise: Journaling prompts
“What time did you go to sleep and wake up?”
I usually start answering that question when I open my journal. It’s my “gateway” question.
After asking myself that question, I tend to go on about other things that are on my mind.
The reason I use prompts is that writing doesn’t always happen by itself. But I want to journal every day because I love to track my progress.
By asking yourself the same questions consistently, you can see how you respond as your life circumstances change.
It’s similar to Peter Drucker’s feedback analysis; a practical, long-term strategy for knowing yourself better.
To give you some inspiration, here are 10 journaling prompts I regularly use.
Wealthy: Avoid selling at the bottom
In 2022, the S&P 500 closed down nearly 20%, its worst performance in 14 years.
The technology index, Nasdaq 100, even performed worse at minus 28% on the year.
By the end of 2022, I started seeing more reports in the media about how individual investors stopped investing. Trading activity and net inflows started to go down.
When prices go down investing, and trading becomes less fun quickly. So a lot of people stop.
People usually get out because every investor has a breaking point. And that point is usually near the bottom of a collapse because everything seems so bleak.
I’ve made that mistake too. But you can avoid it.
One interesting thing
A quote from the book, Letters From A Self-Made Merchant To His Son by George Horace Lorimer
“A clear mind is one that is swept clean of business at six o’clock every night and isn’t opened up for it again until after the shutters are taken down next morning.”
Note to self: Don’t take your work “home” (even if you work from home).
Thanks for reading! I hope you found this edition of Wise & Wealthy useful.
All the best,
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