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Financial Phobias

A long time ago, Michael James discussed an interesting article by Colleen Jaconetti about Rebalaphobia, where Couch Potato investors are afraid to rebalance their portfolios (at the appointed time to balance it). I know I sometimes have anxiety about whether I should balance at the appointed time, but remember, you shouldn’t be worried about market timing, so just do it. I guess this could be viewed as Agoraphobia, where you are afraid to leave a “safe” place, or you feel helpless.

You do realize there is a phobia about money, right? Chrematophobia, is the fear of money, that might be my new cause to fight, don’t be afraid of money, it is a tool, much like a chainsaw. Also, like a chainsaw, you should respect it’s capabilities and be aware of the dangers while using it. Maybe money needs a safeguard on it like chainsaws?

Given how the financial world currently works, Cyberphobia (fear of computers) might also be a problem. You need to use your computer for most financial bits and pieces. You could use paper and pen, but it would be much work.

Overall I think we all financially will suffer from Decidophobia which is the fear of deciding. Making big decisions financially can cause paralysis in folks who are normally hard-driving folks, but money will turn them into self-doubting or, worse, self-loathing financial folk.

Atychiphobia is really at the heart of your financial anxieties, as it is the fear of failure, and financially, I think we all have that kind of worry.

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