Smart, long-term investors usually have a good handle on the mindsets and habits that lead to lasting financial success. They’ve got a plan, they stick to it, and they understand that every financial decision involves trade-offs.

But even the smartest investors are still human. The principles of good investing might be simple - stay the course, think long term, diversify - but that doesn’t mean they’re easy to follow, especially when the world feels uncertain.

Every major global event - from elections to pandemics to wars - ripples through the financial system. And every one of those moments stirs up emotions. Fear. Excitement. Doubt. And when emotions run high, it’s easy to get swept up and make decisions that feel right in the moment… but often hurt us later.

And you know what? Emotions are contagious. When everyone around you is anxious or euphoric, staying calm and rational becomes that much harder.

That’s why it’s so important to be intentional about how we respond. Because there are two temptations that even the most experienced investors face again and again - and how you handle them often determines whether you stay good… or become great.

Temptation #1: Forecasting the Economy

Economists have an incredibly tough job. They’re trying to make sense of a complex web of moving parts - interest rates, inflation, growth, global trade - all interacting at once. Their work is important; it helps guide policy and gives context to what’s happening around us.

But here’s where things often go off track: the financial media loves a bold prediction. “Recession ahead!” “Boom times coming!” “Markets to crash 20%!” And, let’s be honest - those headlines sell.

The problem?

Forecasting the future of something as complex as the global economy is nearly impossible. The number of variables (most of which are completely out of anyone’s control) makes accurate prediction more luck than skill.

And history backs this up. The track record of economists’ forecasts is… well, not great. It’s not because they’re bad at their jobs - it’s because predicting the future depends on knowing things that no one can possibly know.

So while it’s fine - even useful - to stay informed about economic trends, letting forecasts influence your long-term financial plan can be dangerous. Being a great investor isn’t about reacting to what might happen next quarter, it’s about preparing for what will happen over decades.

Temptation #2: Timing the Market

Forecasting the economy often leads to the investor’s biggest temptation: trying to time the market.

It’s so tempting, right? To think you can spot the top before it falls, or buy in right before the next big rally. But no one can do this consistently. Not economists, not fund managers, not even the people on TV who sound like they can.

Markets are forward-looking. They react to expectations about the future, which means by the time you’ve read the news, the market has already priced in what that news means.

So when you see a TV pundit explaining why “the market went up today,” remember - they’re just filling time on air, not revealing secrets. The truth is, nobody really knows why the market does what it does day to day.

Trying to jump in and out based on emotion or prediction has cost investors more money than almost anything else. The better strategy - the one that actually works - is far less exciting: Stay invested. Control what you can (like your asset mix, costs, and contributions). And focus on the one thing that has the biggest impact on your results - your behaviour.

A Better Way Forward

Right now, the world feels uncertain. (Doesn’t it always?)

The present always feels scarier than the past, because we don’t know how this story ends yet. But if history has taught us anything, it’s that uncertainty is a constant - and somehow, we always find a way through.

Yes, the economy has risks. It always does. Yes, markets will be volatile. They always are. But none of that is a reason to abandon a well-built plan.

So instead of getting caught up in forecasts or market timing, give yourself permission to step away from those unwinnable games. Your time, energy, and attention are far better spent staying clear on what really matters - your long-term goals, your family, your future.

That’s the game worth playing.

And it’s one I'm here to help you win. 🩷