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Try this experiment for the next one week to one month.
Completely disconnect yourself from following the news in general and all financial related media.
Consider that a previous President of USC once went on a 6-month media fast. He reported that he did not miss much useful information and he became much more productive and strategic.
Most of the information we are bombarded with is not just useless, it's harmful, in that it pushes us to do something -- anything -- to show we are proactive. Instead of improving our situation, we end up deviating from our plan and making things worse.
Talking heads that perpetually speculate on the future have a very high failure rate when it comes to accuracy. Note that they are almost never held to task after the fact! instead the cycle repeats and more talking heads arrive.
When you emerge from your self-imposed brief disconnect from the world/financial media - ask yourself the following. What has been gained or lost? What did you miss that was truly important in your life? I will be shocked if you do not see an improvement as did the USC President.
You may decide to repeat the media disconnect and with the time gained, add something much more meaningful to replace it like more time with your loved ones, more exercise, etc.
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What to Do Next
The most important first step is to understand what is most important to you, establish goals that are in alignment. Then choose someone that can bring a team of independent experts together and formulate the advice to make it happen. That said, it is normal to want to jump right into investing. We regularly analyze folk's current investment strategy with nothing expected in return. (We'll analyze other aspects of your strategy if you wish.) We look at: - Overall Performance (vs. benchmarks & our model portfolios)
- Portfolio Design
- Diversification
- Fees & Expenses
Give us a call. 760-804-0910 |
