Is Your Finance Strategy "Think About It"?

Days ago I spent an hour giving an investment crash course to a friend who is seeking money advice. I talk about how the market return curves works and risk-free rate. I begin with the intention to "sell" him the idea of getting PRS incentive by investing in the Private Retirement Scheme for government incentive and tax relief.

Then I found out that he has some money that looms free around his account. So I suggested that if he hesitates to do PRS, he would at least put the funds in fixed deposit. His answer - "I will think about it." 

That's what happens to when one is not action bias. You can have the best people around (one of them being me, I hope) to help you, and even offer free money. But one always resolve to make the choice to think about it.

Think About It, And Then Act. Like everything else, finance is action bias.

Look at the vast difference when you do something instead of dreaming:

Thinking about writing a will and actually writing it. - Peace of mind
Thinking about investing and actually investing. - Increase the probability of retiring earlier
Thinking about cutting fees and actually cancel the subscription. - Money saved
Thinking about making home cook meals and actually cooking. - Healthy living

If you need to think about saving spare cash in FD or not, you are wasting your time thinking. In fact, you should be investing even if you don't know what to invest. #Insurance excluded.

Life is hard, relationships can be hard, emotions and health are hard, but finance is the most straightforward life math on earth. Make the right choice of chasing the numbers.