Misplaced Loyalty? Hanging on to Investments That Will Never Fly...

Nobody ever said that investing was going to be easy!

Sadly, for many people, investing is a luxury they may never be able to afford. Thanks to such venues as Steemit and this blockchain technology, a number of us who are now being able to invest for the first time even if it's just in a very small way.

I have long been interested in investing, but I never had the means to do much with it. Sure, I'd get started sometimes, but then some disaster would come along - like a broken water heater or a major car repair - and the money I had set aside would disappear once again.

Whenever I get involved in something financial, I do no shortage of research! I like to be pretty sure that I know what I'm getting myself into and I don't just jump at something because there's a great shiny offer out in front of me.

But no matter how much research we may do, not all investments end up turning out well, even though they may look really good on paper. And so we watch our hard-earned money slowly become worth less and less and less and less.

The thing that sometimes happens is that we develop a sense of loyalty to our investments. Here in the world of crypto, we're often told to "buy the dip"... in fact it's almost law to buy the dip!

So we hang on to our investments, even when they go down significantly and just keep plugging forward because surely they will come back. Right? They will come back, won't they? We might even get in deeper, because now the token is a lot cheaper...

Perhaps the thing I have always found most difficult to do is to know when to "cut bait", so to speak. You get to a point where it becomes incredibly obvious that the money you sank into some crypto token has now declined by 99%, and even though we see enormous runs, there's little doubt that this one is never going to get anywhere.

So what do we do? Do we sell our investment and get out the few dollars we still have in it while we can? Or do we keep hanging on to it in the vain hope that maybe it will go up again someday?

I'm sure I'm not the only one who struggles with questions like this, and what I'm writing here certainly is not intended to be investment advice in any way whatsoever! It's just something I struggle with, and I'm sure others do too.

The thing about investment, though, is it it's something that is best done with logic rather than with emotion. And when we end up with that misplaced loyalty it's usually emotionally based rather than rationally and logically based.

In the meantime, I'm still holding on to my "crypto dogs" and hoping that if we do have another big upwards bull run, I'll be able to at least get a little more out of them as I dump them on the way up.

Thanks for stopping by, and have a great week ahead!

How about you? Are you good at investing? Did you have investments before you came to Steemit? Are you sometimes too loyal to investments you should be selling? Leave a comment if you feel so inclined — share your experiences — be part of the conversation!

(All text and images by the author, unless otherwise credited. This is ORIGINAL CONTENT, created expressly for this platform — Not posted elsewhere!)

Created at 2023.10.30 00:50 PDT
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