For most people, emotions make successful investing a very daunting effort. In our desire to optimize every dollar, we put our faith in some pretty silly things to try to gain an advantage. We watch TV and hear about “hot investments” that seem like they can’t miss, but almost always do. And, there’s always some pundit on the radio or in the ear of a best friend, telling a great story about how some far-flung investor with a new idea, “can’t miss” on their way to becoming the next Apple, Microsoft or Warren Buffet.
We’re worried that we might miss out on what others are taking advantage of, as if others have some insider knowledge and we want to be part of the club. The fear of not doing what others do often leads to bad decisions. We’ve seen this behavior before, with Internet-Startups and the “Dot-Com” bubble and collapse in early 2000. More recently, we’ve seen it with the housing bubble and collapse of the “exotic” investments that were based on mortgage backed investments. People buying the wrong things at the wrong time and for all the wrong reasons, leading to bad outcomes for already worried investors.
All this worry not only removes any of the “fun” from investing, it produces anxiety and stress that invariably leads to even more bad decisions about the next thing to do. One more wrong move, on top of the last wrong move and there you have it; returns that are far below both the market and your target.
If worrying about your money won’t make you more of it, then why do it? It’s not worry that should drive your decisions and actions, it’s clarity. With clarity comes focus and the right actions. If you are unclear about your long-term goals or the best strategy to get you there, then why not higher a professional financial advisor who is obligated to put your best interest first. A good financial advisor will help you align your financial decisions and personal values with your financial goals. This results in clear and actionable steps that together you can use to move in the direction of your dreams. Finding the right advisor for you will ensure that you’re not speculating on fad, but investing in your future.
At Barry Capital, we’ve built our relationships on trust and our organizational values, which put your goals, your dreams and your chance to live the life that you desire at the center of everything that we do. Together, we can take the worry out of your investment decisions. Connect with us; and experience first hand what we mean when we say, Connect, Clarify, and Capitalize.