Common Psychological Traps in Wealth-Building and How to Avoid Them

Building wealth isn’t just about strategy it’s just as much about mindset. I’ve noticed how easy it is to fall into psychological traps, especially when emotions run high. For example, chasing quick wins in crypto or doubling down on a losing investment because of sunk cost bias.

How do you catch yourself when emotions start driving your decisions? Are there specific habits or mental frameworks you’ve found helpful? I’d love to hear how others stay disciplined, especially during market swings or when FOMO kicks in.

I pretend my stock portfolio is my ex ignore it completely and check in way less than I want to. Works wonders for emotional distance!

Wow, what a healthy coping mechanism. I’m sure your ex is thrilled to be compared to stocks.