As an investor, you may be experiencing a phenomenon known as “analysis paralysis”. What exactly is analysis paralysis? It can be described as over-analyzing or overthinking a situation that causes a decision to be “paralyzed” with no solution being acted upon. We are seeing this in recent market activity where investors retreat to more safe “bets” such as cash and short-term bonds. During these turbulent times, we should be hyper-focused on our short-term AND long-term financial goals, yet analysis paralysis seems to be preventing us from taking care of our personal finances.

Here are a few tips to overcome analysis paralysis:

Keep it simple

There always seems to be an overload of information about the current economic environment and “experts” trying to predict what the markets will do in the future. It is best to block out the white noise. Try not to get weighed down by the amount of information available; much of it may be irrelevant to your situation.

Dip your toe in the water

Investing is not an all-or-nothing decision. Putting small amounts of money in over time will reduce timing risk and ‘should’ allow you to grow your accounts gradually over a period of time.

Be forward-thinking

Establish your time horizon and goals. Do not worry about mistakes you made in the past and look at ‘your’ historical market trends with perspective. History doesn’t necessarily repeat itself and sometimes a fresh start is exactly what you need to develop a plan.

Delegate to a professional

Sometimes there comes a point where you need professional advice when managing your money. Investing requires both time and knowledge, commodities that many people don’t have the luxury of having in abundance. There’s no substitute for having a qualified financial professional who can help point you in the right direction, even with specific issues.

Keep apprised

It’s important to understand that nobody gets it right all the time. Life happens which can lead to a revision of our goals. When your circumstances change, you need to evaluate your plan and update it if it no longer makes sense.

We here at Creative Money want to help you avoid analysis paralysis and ensure you are still on the right path to reach your financial goals. Even with questions circling the global economic landscape, we hope to simplify the decision-making process. By creating a portfolio that matches your risk profile and time horizon and building a customized plan that analyzes your situation, we have the tools to get you where you want to be.

Brett Lathrup is a CFP® professional, and Certified College Financial Consultant (CCFC). When he is not helping clients, you can find Brett spending time in the great outdoors, being a pit boss on one of his many charcoal grills or smokers, or learning how to craft the perfect wood-fired pizza. Read more about Brett here.