Comments on: Analysis Paralysis: The Cost of Inaction http://cashmoneylife.com/analysis-paralysis-cost-of-inaction/ Money Management, Small Business, Career Wed, 23 May 2012 21:16:10 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Ron http://cashmoneylife.com/analysis-paralysis-cost-of-inaction/#comment-21977 Ron Thu, 25 Feb 2010 03:02:43 +0000 http://cashmoneylife.com/?p=2165#comment-21977 Love that you mentioned methodical action. I believe taking those *constant* and regular small steps are what gets you places. Sure, there are big leaps here and there, but continuing that momentum with methodical actions will get you further than any grandiose ideas that usually never get implemented. Love that you mentioned methodical action. I believe taking those *constant* and regular small steps are what gets you places. Sure, there are big leaps here and there, but continuing that momentum with methodical actions will get you further than any grandiose ideas that usually never get implemented.

]]> By: Manshu http://cashmoneylife.com/analysis-paralysis-cost-of-inaction/#comment-21975 Manshu Thu, 25 Feb 2010 02:37:23 +0000 http://cashmoneylife.com/?p=2165#comment-21975 Great post Ryan. Although I see ctreit's point and agree with it to some extent, I have personally felt that each decision I delayed has just cost me more. I guess it has something to do with mental make up too. I can't learn anything without trying it myself, so I have a tendency to get on with things as quickly as possible. Great post Ryan. Although I see ctreit’s point and agree with it to some extent, I have personally felt that each decision I delayed has just cost me more. I guess it has something to do with mental make up too. I can’t learn anything without trying it myself, so I have a tendency to get on with things as quickly as possible.

]]> By: Ryan http://cashmoneylife.com/analysis-paralysis-cost-of-inaction/#comment-21976 Ryan Thu, 25 Feb 2010 01:53:36 +0000 http://cashmoneylife.com/?p=2165#comment-21976 There are times when it's best not to act, and I think ctreit made a good point by bringing that up. I think the main thing is to make a conscious decision based on research, and not simply sit out because you are too intimidated to do anything. Hopefully, using these principles will help people better differentiate those times when it is best to act, or best to stay on the sidelines. There are times when it’s best not to act, and I think ctreit made a good point by bringing that up. I think the main thing is to make a conscious decision based on research, and not simply sit out because you are too intimidated to do anything. Hopefully, using these principles will help people better differentiate those times when it is best to act, or best to stay on the sidelines.

]]> By: Ryan http://cashmoneylife.com/analysis-paralysis-cost-of-inaction/#comment-21974 Ryan Thu, 25 Feb 2010 01:26:04 +0000 http://cashmoneylife.com/?p=2165#comment-21974 ctreit, I agree 100%. Last year I wrote about a similar situation when I came upon a great business idea, but one I didn't have the time or energy to pull off. I shared a little about that situation here: <a href="http://cashmoneylife.com/applying-swot-analysis-business-opportunity/" rel="nofollow">The Best Business Opportunity Can Be the One You Don’t Take</a>. ctreit, I agree 100%. Last year I wrote about a similar situation when I came upon a great business idea, but one I didn’t have the time or energy to pull off. I shared a little about that situation here: The Best Business Opportunity Can Be the One You Don’t Take.

]]> By: ctreit http://cashmoneylife.com/analysis-paralysis-cost-of-inaction/#comment-21972 ctreit Wed, 24 Feb 2010 22:03:13 +0000 http://cashmoneylife.com/?p=2165#comment-21972 You bring up some very good examples when doing nothing can be expensive. But sometimes we really face such an overload of information that it is very difficult to do anything. Think about a simpler act like buying a car. We reduce such a complicated act into some pretty simple things so that we can make a decision. So, in case like the ones you list it is probably a good idea to do something, anything just to get the ball rolling. We do the same thing when we buy a car. However, at other times it may be a good idea to do nothing like Steadfast Finances argues in this blog post: http://steadfastfinances.com/blog/2009/06/20/sometimes-the-hardest-and-wisest-thing-to-do-is-todo-nothing/ You bring up some very good examples when doing nothing can be expensive. But sometimes we really face such an overload of information that it is very difficult to do anything. Think about a simpler act like buying a car. We reduce such a complicated act into some pretty simple things so that we can make a decision. So, in case like the ones you list it is probably a good idea to do something, anything just to get the ball rolling. We do the same thing when we buy a car. However, at other times it may be a good idea to do nothing like Steadfast Finances argues in this blog post: http://steadfastfinances.com/blog/2009/06/20/sometimes-the-hardest-and-wisest-thing-to-do-is-todo-nothing/

]]> By: RetirementInvestingToday http://cashmoneylife.com/analysis-paralysis-cost-of-inaction/#comment-21970 RetirementInvestingToday Wed, 24 Feb 2010 16:51:56 +0000 http://cashmoneylife.com/?p=2165#comment-21970 Personally I think people just need to realise there is no 'right' or 'wrong' answer to investing, only doing whats right for you. How many people can say they have ever been on the efficient frontier of investing. I know I never have and accept that I probably never will be. If you haven't been there then you haven't been 'right' although you may have still been successful. That combined with understanding compound interest (which IMO should be taught at school every year), as you highlight, gets you half way there. Personally I think people just need to realise there is no ‘right’ or ‘wrong’ answer to investing, only doing whats right for you. How many people can say they have ever been on the efficient frontier of investing. I know I never have and accept that I probably never will be. If you haven’t been there then you haven’t been ‘right’ although you may have still been successful.

That combined with understanding compound interest (which IMO should be taught at school every year), as you highlight, gets you half way there.

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