Posted on September 19, 2013 | Investor Update
I have a suggestion that will significantly impact your wealth: Focus on the simple things.
It’s easy to get caught up in the pursuit of beating the market. Forecasts about what the market is going to do, tactical asset allocation strategies to help you avoid down markets and advanced methodologies for stock selection all sound appealing, but there are actions you can take that will have a far greater impact on your long-term wealth and what you pass on to your heirs (or preferred charity).
If it sounds a bit odd, remember that the investment industry doesn’t make much money off of the simple things. Getting you to trade more often, switch brokerage firms, sign up for seminars, buy the latest fund incarnation and the like make the industry’s cash register ring. Your success is very much dependent on your ability to hit the mute button and not be distracted by whatever the investment industry can conjure up.