Barrister Brief – Year-End Financial Planning Tips
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[vc_row][vc_column][vc_column_text]Boring Investing, the process of making sound, periodic investments within a clearly defined framework without allowing our emotions to control…
[vc_row][vc_column][vc_column_text]Boring Investing, the process of making sound, periodic investments within a clearly defined framework without allowing our emotions to control our behaviors in an effort to grow wealth at a percentage greater than inflation. If this doesn’t sound appealing to you I understand but that may mean you are looking to the wrong place to get your gambling fix. Or you should at least be cognizant of the fact you maybe putting yourself at higher risk of loss by speculating verse investing.
As Samuelson says, if you want excitement head to Vegas, Atlantic City or anywhere where they allow games of chance, i.e. gambling. You should not look to your investments to provide you with the kind of instant gratification gambling can provide when you win. This is because Wall Street like a big casino will take it away just as quickly, unless you have a sound investment strategy in place. This doesn’t mean you can’t/shouldn’t gamble/speculate at all with your money, just keep it to a very small percentage of your overall wealth and go into it knowing you can and will very likely lose it all.
If you haven’t recently reviewed your financial plan you should contact your CERTIFIED FINANCIAL PLANNER™ Practitioner.
If you aren’t currently working with a CERTIFIED FINANCIAL PLANNER™ Practitioner you can learn more about my practice HERE or you can find other CFP® Practitioners HERE[/vc_column_text][/vc_column][/vc_row]
09/07/2017
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