We've all been there, eagerly checking our investment returns for the year, only to come across someone boasting about their higher returns. The frustration sets in, anger bubbles up, and doubt starts creeping in. Suddenly, you're convinced that you must be investing wrong and need to take on more risk to keep up.
Let me tell you straight - this is the trap most investors fall into. Comparing your plan to someone else's is like comparing a pineapple to a pen. They're entirely different things used in completely different ways. So, stop trying to compare your financial plan to someone else's because they just aren't the same.
Here's the real issue at hand - when you solely focus on maximizing returns, you're missing the bigger picture. Sure, we'd all love to consistently achieve the highest return year after year, but let's get real, that's not always going to happen. More importantly your financial plan is not hinged just on the highest market return each year. Some years you'll be up, some years you'll be down, and sometimes you might not be at the top, but that's perfectly fine. You know why? Because the investments in your plan are specifically tailored to you and your unique investment style.
It doesn't matter if your investments are all stocks, all bonds, or all guaranteed interest certificates. What matters is that they align perfectly with your plan, considering factors like the time frame, amount of money invested, and most importantly, your goals. They should match your personality, risk tolerance, and your wants and desires. So, who cares if your neighbor bragged about their 10% return while you got a solid 3%? If that 3%fits your plan, then that's what truly matters.
Here's the key - stay consistent with the investment product you choose. Ignore the noise about better returns or market recessions. Hold onto those investments, knowing that they are the right fit for your plan, regardless of whether they have the highest return or someone else did better. Jumping in and out of investments is just a fancy form of market timing or trying to predict the future. And let me tell you, that has never worked out well for many people.
So, my friend, let's break free from the comparison game and take control of our financial destiny. It's time to make informed decisions based on our unique circumstances. Don't let investment returns cloud your judgement. Book a free meeting with us today, and together we'll build a plan that suits you and your goals. Let's challenge the status quo and step up our financial game.