Don’t try to time the market. Spend time in the market.
I tried timing the market back in my 20’s and 30’s and every time I thought I figured it out… the market gave me a well deserved a$$ kicking!
On the other hand,
I know a few people that have accomplished this incredible feat of timing the market but when I ask them how they were able to do it, here’s the response I got:
“Honestly, I was lucky!”
Seriously, that’s the best answer you can give me?!
But it’s true! No one can consistently time the market and know when it’s going to take a downward turn or sky rocket up.
After years and years of research I came to this conclusion: There is no magic formula, meditation ritual or howling at the moon that will allow you to predict what will happen in the future and time the market.
There is however another secret formula I discovered a few years ago from one of my early mentors and it goes like this:
“When others are greedy be fearful and when others are fearful be greedy!”
Many are very fearful right now and now is not the time to be procrastinating!
Interest rates are going UP, prices are going DOWN and many people are now on the sidelines watching the game with a water bottle in hand wondering who’s going to win. Will the downward trend continue or will we see a reverse and a move towards upwards pressure.
Honestly, in my opinion it doesn’t matter which way the market is going. The key is to be strategic, and find a cash flowing property in an area that has the right economical fundamentals.
Here’s my advice…
Jump back on the field, score as many goals as you can while everyone else is on the sidelines watching.
You might as well, there aren’t that many players on the field right now!