Smart Thinking On Investing – December 09

Smart Thinking On Investing – December 02

In Smart Thinking this week, Barry Ritholtz, author of The Big Picture blog, has written a comprehensive guide to help you evaluate you need for a financial advisor—too good not to share! A Wealth of Common Sense’s Ben Carlson explains how we are all in sales, like it or not. And Michael Batnick, of The Irrelevent Investor, teaches us to stop looking for investing signals and indicators.
 
The Intelligent Investor Jason Zweig shares his mission as an investment blogger—to save investors from themselves. And finally, Apathy Ends has calculated just how long and how much you need to invest to become a millionaire…
 

Assess Your Financial Situation

 

  • Deciding how much help you need is linked to your financial circumstances—the more complicated the situation, the more you’d benefit from advice
  • Do you know what your long term financial plan is and are you on track? A financial advisor can help with the more complex goals you have
  • What is your level of discipline? A good financial advisor will help you keep your behaviour in check when it comes to your investment decision-making skills

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Sales and Marketing Are In Everything We Do

 

  • Getting a good career is about selling your accomplishments and skills
  • Being in business is all about pitching your products, ideas, and services to your target market
  • Finding a partner in life is about advertising your best qualities—while hiding the bad ones as long as you can 🙂

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Don’t Succumb to Investing Naivety

 

  • We spend our lives looking for signals and indicators to help us make decisions and we do it with the stock market too
  • They give us something to point the finger at if our decision proves wrong or if we experience bad luck
  • In investing, we cannot afford to place importance on indicators, they are not an accurate forecast of the future, and signals are too ambiguous to be of real help

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We Are Our Own Worst Investing Enemy

 

  • Studies show that those who adjust their investments according to news updates earn lower returns on average than those who don’t receive news
  • Chasing hot stocks is counterintuitive for investment performance, instead invest in those that aren’t necessarily hot but will survive market up-and-downs
  • Avoid listening to noise and acting on impulse with your investments, be diversified and steadfast

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Your Retirement Fund Potential

 

  • Assuming 7% annual returns, and including only invested assets, outside of your Emergency fund and mortgage…
  • …if you invest $10,746.99 (and leave it alone) in 67 years the power of compounding interest will turn you into a millionaire
  • Start as soon as possible, to reach the same goal in thirty years you need to invest at least $160,930.37, like, yesterday

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Do you want to start investing on your own, but don’t know how?

Check this out!

 

Anything you would like to discuss about Smart Thinking On Investing? Do you have any articles you would like me to cover? Feel free to add it below. Let’s start a discussion in the comments section!

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DISCLAIMER: This content is for information purposes only. It is not intended to be investment advice. Readers should not consider statements made by the author(s) as formal recommendations and should consult their financial advisor before making any investment decisions. While the information provided is believed to be accurate, it may include errors or inaccuracies. The author(s) cannot be held liable for any actions taken as a result of reading this article. Andrew Stotz doesn’t necessarily endorse any stocks or shares mentioned in the articles or the author of such articles linked to and summarized in Smart Thinking On Investing and cannot guarantee the accuracy of its information.

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