What you don’t know about Imposter Syndrome could hurt you as an investor

Have you ever felt like everyone else knows what they’re doing when you have no clue?  Do you sometimes believe your success is all about luck, but your failures are all you?  Do you wonder when the fraud police are going to come to kick down the door and drag you from your desk?  If the answer is yes to any of these, welcome to the imposter club!  The good and bad news is that it’s not a very exclusive club and almost all of us will be a member of this club at some stage in life.  In today’s podcast, I’ll have a chat with Louise Bedford, who has a degree in psychology, about what’s going on in your brain when you feel like a fraudster and how to try and push through those feelings.  What is Imposter Syndrome, and how does it affect you? The term “Imposter Syndrome” was coined by psychologists Pauline Clance and Suzanne Imes in the 1970s An estimated 70% of people experience these impostor feelings at some point in their lives Three main components of Imposter Syndrome: Feeling like a fake  Disregarding praise and achievements Attributing successes to good luck If investors don’t correct their thinking, they’ll self-sabotage Lies Imposter Syndrome Tells You Lie #1: You have self-doubt, so you will fail Lie #2: You can’t admit vulnerability Lie #3: You’re not ready Lie #4: It’s a matter of time until you blow it Lie #5: They don’t mean that praise, they’re just being nice  How can you get rid of Imposter Syndrome? Refuse to give your “inner lunatic” any light Practice self-awareness Take credit for small triumphs Keep a journal to record your thought patterns and your wins Seek constructive criticism on small matters Seek professional help if you need it Links and Resources:  Michael Yardney Metropole Property Strategists Louise Bedford – The Trading Game To download your Impostor Syndrome special report, click here:   To read more about Pauline Rose Clance and take the Impostor Syndrome quiz, click here Show notes plus more here: What you don’t know about Imposter Syndrome could hurt you as an investor Some of our favourite quotes from the show:  “If you suddenly come into wealth, whether it’s through property, whether it’s in lottery, whether it’s inheritance, I just see people over and over again sabotage themselves.” – Michael Yardney “I’m prepared to bet my money that spring’s going to come after winter this time too because it always has.” – Michael Yardney “I’m prepared to fail knowing that I’ve just found something that doesn’t work, and I’ll get to the next level.” – Michael Yardney  PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how