Perfect investment?

I am not an investment advisor nor am I licensed in your state, nor is this a solicitation, etc. etc. I am just sharing a good article from Carl Richards of

From Carl-

People spend a lot of time and energy trying to find the “best” stocks, mutual funds or other investments. Magazines devote covers to it, and authors write books about it. There are entire industries built around this wild goose chase.

But let’s clear this up right now: There is no such thing as the best investment.

This widespread notion that there exists somewhere an investment that outshines all others simply doesn’t make sense. No single investment is right for everyone. The best investments for you depend on personal factors—your goals, your personality, your existing holdings, your credit card balance…the list is endless.

Financial products—including things like bank accounts and insurance policies as well as investments—should be judged on how well they help you reach your goals. Since your goals are unique, what might be right for you could be a disaster for someone else.

Moreover, the specific investments you choose probably won’t determine your financial prospects. I often run into folks who spend a lot of time hunting for great investments even as they ignore more fundamental issues in their financial situation.

Someone might come in looking for the next hot stock. I ask a few questions, and find out that they have no life or disability insurance. Or a new client will come into my office looking for the highest-yielding savings account, while carrying a credit card balance at 18% interest. That’s my cue to say something like this: What are we doing scraping around for an extra half-a-percent in CD yields? How about if we use some of your savings to pay off some credit card debt—which is pretty much like earning an 18% yield?

Searching for the perfect investment can distract you from more important things. And, by the way, it doesn’t work.

Carl Richards of Behavior Gap –

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