Investing Myth #5: If Something is Really That Good, Everyone Would be Doing It
Technology marches forward, with or without us, and the financial world is no different. Incredible innovations have rolled out in the last decade or so, offering investors opportunities to protect against loss while still offering growth potential. Opportunities that weren’t imaginable only a couple of decades ago…a welcome strategy for those who weathered the bursting of the technology bubble and the global credit meltdown.
The key to taking advantage of these advances is research and education. If everyone is doing it, it’s probably old news. If it’s being blasted on the airwaves as the latest and greatest, it probably isn’t. In a world of quick-fix products and internet “truths”, obtaining unbiased facts and solid recommendations can be daunting. Even when you seek out counsel from those in the industry, it’s hard to know if the solution presented is the best one for you, or just the one that offers the salesperson the most commission.
If a strategy, rather than a product, is more what you’re looking for, find a qualified professional who is a fiduciary—an individual who is legally bound to do the right thing for you and your situation. There really are methods that produce consistent, protected gains without the wild swings, high fees and surprises that come with many of the “sure things” targeted to those in, and approaching, retirement.
The world has become more complicated as technology improves at an ever-increasing rate. The financial industry is part of that whirlwind. It can be intimidating and unfamiliar. While you shouldn’t jump into a product or strategy you don’t understand, ignoring the possibilities means you get left behind…and that can mean the difference between a comfortable, or uneasy, retirement. Do your own due diligence, seek out the real facts, and get help from a comprehensive planner.
Season’s greetings and best wishes for a happy holiday! We are humbled by the confidence our loyal clients have placed in us and look forward to another dynamic year helping each of you reach your goals.