Are we there yet?

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I’m not sure exactly when this phrase was immortalized however for me it always reminds me of Space Jam, 1 of my 2 favourite movies.

Whenever people ask me if they should be buying or where in the cycle do I think we are I always hear them saying “Are we there yet?”

We all want to be told that now is the time to buy or we should wait for various reasons.  Now I understand that timing can be critical however I think we like to ask these questions sometimes hoping that we will be told to do nothing.  And this removes the need for us to take responsibility for our own situation and allows us to feel good that we took action by asking a question.

Overcoming this takes a bit of a mental push into a space where we begin to say to ourselves there is always something I need to be doing to keep in charge of my own financial destiny.  So the question is never “Should I do anything?” but “What should I be doing in this particular phase?”.

I watch people make money as the market goes up, down and sideways.   All we do is tweak a strategy here, modify a rule there, change focus over there, but we keep moving towards our goals and our future.

As a wise man once said: “Faith without works is dead”.

Having faith in property investment without taking consistent long term action is like reading books about swimming but never ever getting in a pool!

Stay Inspired and Stay Safe ~ Dean Letfus

The Ethical Investor