If You’re Not Analytic, Find an Adviser Who Is
An eye for detail seems like a special gift, especially in a society prone to glossing over the fine print of insurance policies, lease agreements and mortgage contracts. Are you just born with acuity or can you develop it? And keep in mind, that diligence; real due diligence is a practiced discipline. The more you practice it, the higher probability is that you’ll develop financial acuity. Watch the interview with retirement expert David Scranton.
Many investor behaviors are not rooted in math and science. There’s no real analytic underpinning to most financial product purchases. But there’s significant data that can’t and shouldn’t be ignored.
Investing without a strategy is like redoing the D-Day invasion of Europe without a plan. Instead of launching one of the greatest military successes in history, you just send ships and planes and tanks and men at random and watch them get chopped to pieces. It’s a nightmare of failure.
The same thing happens to your finances. Moving forward without a strategy invites disaster. You invest based on a story you read in the news or on the advice a relative or friend told you, or even worse, you blindly followed your financial advisor’s recommendation. You invest when the market is at the top and pull out your money after it craters.
To avoid all that, you need a plan, supported by proven strategies that work, let’s take a look at where we are today. We’ve had two consecutive market meltdowns since 2000. Each one of those drops was followed by a recovery.
Major contributions to this press release are directly from David’s newest book entitled, “Return on Principle: 7 Core Values to Help Protect Your Money in Good Times and Bad.” David has also authored the critically acclaimed book, “Stop The Financial Insanity, How to Keep Wall Street’s Cancer from Spreading to Your Portfolio.” David is not only a best selling author, but also a popular platform speaker and TV talk show host of the Income Generation. David’s credentials include CFP, CFA, MSFS, CLU & ChFC.
Syndicated financial columnist Steve Savant interviews top retirement specialists in their field of expertise. Right in the Money is a financial talk show distributed in daily video press releases to over 280 media outlets and social media networks.