Someone was talking to my husband the other day and he asked about the sale of our house in May. He remarked, “Tell me how you managed to time the market so perfectly?” Doug laughed and replied, “We didn’t! We just happened to be very lucky. Everything aligned at the right time.”
Timing the market, any market, is nearly impossible and research shows that the cost of waiting for the perfect moment to buy or sell typically exceeds the benefit of even perfect timing. As humans, we try to “time the market” in our life all the time. We wait and wait for that perfect time to switch jobs, talk to our boss, ask for a raise, move, etc., but to what end? There is no perfect time! We are generally risk averse people, but if we want change, we have to muster up the courage to move forward and stop waiting to “time the market.” That’s not helping.
So here is a really fun fact—and if you work on Wall Street, write this one down—research shows that our willingness to take risks decreases from Monday to Thursday, and then rebounds on Friday. Good to know, right? If you’re having your decision making meetings on Thursday…you might want to change that to a Monday or a Friday. And if you want to have a 1 on 1 with your boss, do NOT choose Thursday!
Let’s GO! WE GOT THIS!