The price of investment success is not immediately visible. It is not written on a label. So, when you need to pay this kind of bill, you feel that this money is not the price paid for buying something good, but more like a fine that must be paid after doing something wrong. Although paying bills is seen as normal, paying fines should be avoided, so people think they should take some wise preventive measures to avoid being penalized. Fines, whether from traffic police or the IRS, mean you did something wrong and should be punished. Therefore, for those who see their wealth decrease and think they are paying a fine, avoiding potential future fines is just a natural reaction.

 Viewing market volatility as a price to be paid rather than a fine to be paid may seem insignificant, but it is an important part of developing the right financial mindset. This mindset allows you to stick to a financial strategy long enough to eventually reap long-term investment returns.

Few investors have the courage to say, "I can withstand a 20% loss." Among novices who have never experienced a 20% drop, even fewer are like that.

 However, if you view volatility as the admission ticket you need to buy, the situation becomes completely different.

A Disneyland ticket costs $100, but after paying this money, you and your children will have a wonderful, unforgettable day. In 2020, over 18 million people felt this $100 was worth it, and few felt it was a punishment or a fine. When you clearly know you are paying to buy something, the value of this money is obvious.

The same goes for investment. Almost all volatility is a fee, not a fine.