What do you think of when you think about the holidays? Snow? Cookies? The best stock picks for 2018? Most likely not!
At the end of each year, headlines are splashed everywhere touting the best investing advice for the New Year: the best stocks to buy… the best ‘sector’ to invest in… predictions about how the stock market will perform.
Simply put, websites do this to boost traffic to their site. And it’s easy to get swept away with all the noise surrounding your different investment options and how you should manage your money. Besides, these are pros, right? They surely know what they’re talking about.
But let’s be real. No one has a crystal ball. And even professional stock pickers don’t have a great track record: last year, about 66% of money managers for large company funds didn’t ‘beat’ the S&P 500. Over the last 15 years, it’s even worse: a 92% failure rate.
So what can you do to tune out the noise and distraction? You need to find a way to understand the big picture. Your big picture.
A personalized financial plan can bring clarity to all your finances and help you develop a strategy for reaching your money goals. Having a plan – and sticking with it – makes it easier to make financial decisions, set long-term and short-term financial goals, and stay on track month after month, year after year.
The Simply Money Point
With clear and precise goals in mind, it should be easier to avoid the media noise and stay on course. Your personalized financial plan is a roadmap that will help you navigate your financial journey, helping to protect your money and make it grow.
At Simply Money Advisors, we recommend a Certified Financial Planner™ create your personalized financial plan. Download our free guide to learn more about the benefits of working with a CFP®.