Sorting the Professionals from the Salesmen
Recently, I volunteered to be a guinea pig for my sister who is in dental hygiene school. When I arrived, I walked into a room with a couple dozen stations, all with aspiring hygienists in uniform, performing dental exams and cleaning teeth.
Who’s in Control of Your Financial Future?
About a month ago I sat in a college classroom at a conference for alumni. The speaker was a well-renowned academic. Her topic:
“Household Financial Decision-Making: Mistakes People Make, Why, and Ways to Make Things Better.”
Debunking Investment Myths: An Evidence-Based Approach
Over the last several weeks we have looked at four myths that keep investors from having a positive investment experience. Today, I outline a strategy based on decades of academic research, which I believe gives investors the best chance of reaching their goals.
Investment Myth #4: Past Performance = Future Results
Despite the disclaimer on every advertisement for an investment product reminding customers that “past performance is no guarantee of future results,” most investors, and sadly many advisors use past performance as their primary criteria
Investment Myth #3: Superior Skill = Better Performance
A keen intellect and extensive experience are valuable traits for an investment manager to possess. Unfortunately, they are not sufficient to allow them to produce market beating returns. This reality goes against our intuition
Investment Myth #2: Timing Is Everything
We’ve all heard the saying, “Buy low, sell high.” Seems pretty straightforward, right? Actually, it’s not. In reality, constantly trading in an effort to time the market or pick stocks leads to higher transactions costs and taxes, and introduces unnecessary risks
Investment Myth #1: Investing = Gambling
*This is the first in a series of posts that will debunk common investment myths. I will conclude the series by describing an investment strategy that I believe gives investors the best chance to reach their goals
2 Simple Retirement Plans for Small Businesses
When it comes to saving for retirement, most everyone has heard of the 401(k) and the IRA. If you’re a small business owner, or if you plan to be at some point in the future, I want to bring your attention to two other retirement plans
6 Keys to Success in Investing You Won’t Hear From Wall Street
As a financial advisor, I am often asked: “Where should I put my money right now?” The financial industry has trained us to treat our investment plan like we treat our fantasy football team
3 Reasons You’re Ignoring Your Finances And What It’s Costing You
Is updating your will, getting life insurance, making a budget, or enrolling in your company’s 401k plan something you’ve been meaning to do, but keep putting off?