Your investment philosophy will certainly be influenced based upon your past investment experience, your views on money itself, your opinion about different markets and assets, and what you would like to accomplish financially.
It's important to know your investment philosophy because it will frame many important decisions such as - whether or not to build passive income now or wait, to use leverage or not, to pay off debt or not, how much time you spend monitoring investments, and how often you make investment decisions.
Your investment philosophy will more than likely change over time as new information and experiences are presented. No one philosophy is better or worse than another, but it will certainly have an effect on how you invest and manage your investments moving forward.
We dive deep into this for two main reasons: So you can sleep at night and so you can implement the investment plans. After this stage, you will have a good strategy for moving forward and adopting the investment strategies and plans that best suite you.