This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA
There is no shortage of new. Television, radio, newspapers, magazines and of course, the internet. 24/7/365 information is coming at you. Whoever named it the ‘information age’ sure got it right!
Most Savvy investors have learned to mostly ignore the news. Especially news about the financial markets. They have set up systems to limit the amount of information they take in on a daily basis. Why is this? Most of the information is not meaningful or actionable to them.
Have a plan
Smart investors have a financial plan. This can be as simple as writing it on a cocktail napkin or much more complex. Simple works better for most. Either way, they have a plan that works for them. Sure, it will need to be tweaked as time marches on. That’s OK. Most investors know there will be pot holes, speed bumps and dead-end streets along the way. They will merely adjust accordingly.
That’s not to suggest smart investors will ignore the news. They won’t. It’s just that they will only take in select information in small bites. And then they will usually just focus on the macro trends. They have seen interest rates falling for the past thirty years. They understand that China, while still growing strong, is slowing down. They also know that the U.S. is no longer energy dependent on other countries. In other words, they keep an eye on the major trends and ignore the day-to-day ‘noise’ generated by the media.
The information contained in this report does not purport to be a complete description of the securities, markets or developments referred to in this material. The information has been obtained from sources considered to be reliable, but we do not guarantee that the forgoing material is accurate or complete. Any opinions are those of Thomas F. Scanlon, CPA, CFP and not those necessarily those of RJFS or Raymond James. Expressions of opinion are as of this date and are subject to change without notice. Tax preparation and accounting services are provided by Borgida & Company, P.C., not as a service of Raymond James. You should discuss your tax or legal matters with the appropriate professional. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Past Performance is not indicative of future results. All investing involves risk.