The New Zealand Herald

All Things Money

- Carmel Fisher, founder and Director of Fisher Funds

dilemma. We are often blinded by the particular­s of the situation and can be caught in the grip of visceral emotion — anger, lust, greed or anxiety.

While such emotion fades, the consequenc­es of our decisions don’t. This is what lies beneath the wisdom that when making important decisions, we should sleep on it.

I can appreciate the benefit of applying the 10-10-10 rule to both personal and investment decisions.

In fact, I think I probably already apply a version of it. When discussing tattoos with my daughters, I’ve always cautioned them about the second-order consequenc­es — how will it look when you’re my age? Will you still love it when it detracts from a beautiful outfit?

I’m sure I applied the 10-10-10 rule in my younger days when I decided to work immediatel­y after university rather than travelling on overseas adventures. While the idea of OE was tempting then, I know with hindsight that longer-term thinking paid off.

I can now travel whenever I like,

It is often hard to maintain perspectiv­e when facing a thorny dilemma.

and enjoy experience­s of a standard I could not otherwise have afforded.

Similarly, in my investment decisions, I have applied a variation of the 10-10-10 rule, though I think this idea is superior.

 ?? Picture / 123RF ?? Whether you’re investing or getting a tattoo, take time and consider the consequenc­es.
Picture / 123RF Whether you’re investing or getting a tattoo, take time and consider the consequenc­es.

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