April 4, 2013
What is the real impact of your investments on your happiness and life? Some people will never be happy with their investments, as they are perfectionists; while others don’t equate money to anything emotional (beyond basic needs met). But for most of us, money plays a very important part in how we feel about life.
It’s unlikely I will ever help the perfectionists because as soon as investments don’t live up to their unrealistic expectations they are off seeking the next perfect investment. And it’s not likely I will be able to do much for those who place little value on having more money because they see their investments – however inefficient – as “good enough.”
Between these extremes are millions of people who would like to do better, as doing better would improve their lifestyle. The lifestyle changes may mean the ability to spend a little more money on clothes, travel, children or grandchildren. The amount might not be excessive, but the feeling of satisfaction is worth a lot.
Although my financial security is more than 10 times what it was 20 years ago, it hasn’t changed my lack of interest in buying fancier clothes or more travel. What it has given me is the freedom to spend time and money on projects that have absolutely no financial reward for me – but, hopefully, benefit others! I also find great peace of mind knowing that my family is okay and my wife will be taken care of.
My goal – for those who choose to follow my advice – is to find all the ways, both big and small, to help you improve your financial returns. My advice is always motivated by 3 primary goals: more profit, less risk, and greater peace of mind.
While, for me, financial security is important to my peace of mind, I’d like you to let me know what has you worried so I can figure out what to teach you that might help you the most.
It is an honor to know some people take my advice without consulting other sources, while others read or listen to my information along with lots of other sources, and it’s an honor to work for those folks as well. It seems that the best help I can offer this group is to address questions where my recommendations might be different from their other sources. There is no one right or perfect solution to manage your investments, as none of us can predict the future. But there a lot of “solutions” out there that are not in your best interest. I want to be sure you don’t make mistakes that will turn you from a successful to an unsuccessful investor.
Very few 401(k) and similar plans give you access to all these asset classes. When I studied the 100 largest plans in the U.S. two years ago, I found not even one that included everything I recommend.
Four more ways to turbocharge your 401(k)