Many investors view investing as a competition, where someone must lose for them to win. However, this is a harmful myth. Investing is a tool that can help all investors achieve their financial goals. When an investment does well, it benefits every stakeholder, not just a select few. Similarly, broad market growth over the long term lifts all boats. Your investing success does not require someone else’s failure.

One common mistake investors make is comparing their returns to others and feeling defeated if they don’t perform as well. The urge to chase the top performers is understandable but counterproductive. Nothing consistently ranks at the top year after year. Chasing the latest hot investment often leads to buying high and selling low. Instead, the key is to tune out the noise and focus on your goals. Let your portfolio work steadily towards achieving these goals over time.

Some investors also believe that they missed out on a win because of an error or oversight. In such situations, it is important to acknowledge the problem and re-plan if necessary. However, many investors mentally reject this possibility and instead plan aggressive and risky strategies to win back their money. This is a recipe for disaster.

To be successful in investing, it is crucial to stay focused on your real investing goals – securing your and your family’s future. Tune out the market noise and speculation about who is winning or losing. Building wealth over decades requires patience and a well-diversified portfolio. Approach investing with a collaborative mindset, not an adversarial one. Your ultimate competition is yourself. Are you effectively using the market to achieve your long-term objectives? If so, you are winning, regardless of what others around you may be doing.