NEARLY HALF OF ALL AMERICANS ARE RUINING THEIR FINANCIAL FUTURES... A survey from online banking-news aggregator Bankrate found that 57% of Americans are not invested in the stock market, including in their retirement accounts. Not investing is one of the biggest mistakes you can make if you want a wealthy retirement. Some of those folks probably have great excuses. Maybe they lost a job... Or they don’t trust Wall Street... Probably, money is tight. Or it’s just “too hard” to figure out the brokerage forms to get started. These excuses are all based on fear.
When it comes to investing, fear prevents most people from starting... whether it’s fear of losing money or fear stemming from ignorance. It’s common investor behavior to freeze in the face of fear. A tiny part of your brain called the amygdala kicks in whenever there’s a perceived threat. The amygdala makes us want to avoid risk. Money, in today’s society, represents a sense of security. We need money to obtain what we need to survive... food, shelter, medicine. Any threat of losing money can trigger the amygdala to kick in full-force.
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American Consequences 21
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