An Investment Advisor’s Blueprint To Making Solid Financial Decisions

Life will always be a series of choices and a constant exercise in decision-making. Some decisions are incidental and other decisions will be major with long lasting consequences. Some decisions may not only impact you but may affect others in your life as well. Some decisions are yours to make alone, and others require negotiation and compromise.

Figuring out your “money personality” and understanding which decisions are important to you and which don’t matter can help you be financially successful. When it comes to making major decisions in your life, it is easier if you have a process. 

Decide What Is Most Important To You

A common mistake people make is to give up what they want most for what they only want right now. Pick which goals in your life are most important to you, and make achieving those goals your utmost priority. Then…

Always Ask Yourself, “Will This Decision Bring Me Closer To My Goals, Or Take Me Further Away?”

People commonly prioritize the short-term over the long-term. But a great way to determine if the decision is a good one is to ask yourself if you are mortgaging your future to pay for your present.

Financial Advisor, Rockville, Investment Advisor, Bethesda, Retirement Advisor, Potomac, Financial Planner
Financial Advisor, Rockville, Investment Advisor, Bethesda, Retirement Advisor, Potomac, Financial Planner

Don’t Rush. Take Your Time And Study Your Options

Financial Decisions rarely need to be made in a hurry. In fact, fast decisions tend to be poor decisions!  Get all the facts and learn your option, so that your decision is at least an informed one.

That Said, Focus On Making “Good” Decisions Over “Perfect” Decisions.

Volaire once said, “perfect is the enemy of the good.”  When making a financial decision, don'[t stress so much over whether your decision is perfect that you end up paralyzing yourself and missing out on opportunities. A lot of small, good decisions tend to weigh more than one perfect decision.

Ask Questions!

The most important thing you can do to make good financial decisions is to ask questions first. Talk to qualified experts. Chat with people who’ve been in the same situation as you. As the saying goes, “He who asks a question is confused for a minute. He who does not is confused forever.”

Financial Advisor, Rockville, Investment Advisor, Bethesda, Retirement Advisor, Potomac, Financial Planner

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