top of page

Making Sense of Financial Data

Writer: Steve MartinSteve Martin

This is a great article by Michael Kay.  It points out the futility of trying to make your financial decisions on factors that you cannot control.  Toward the end of the article, he identifies Ten Steps to a more meaningful financial life, which include:

  1. Articulate your goals: What MUST happen for you to feel satisfied based on your values.

  2. Create a plan that is consistent with your goals and your ability to deal with market volatility.

  3. Relegate financial statistics and data along with the newsletters and magazine articles into the classification of investment pornography; it’s titillating, but can easily lead to trouble-it’s just noise.

  4. Assess your risk tolerance-how much pain can you endure before you abandon your plan. Don’t adjust your risk tolerance to over ambitious goals.

Practically every day, the government, corporations, think-tanks, pollsters and associations release data into the already burgeoning stream of information for the media and consumer to lap up and absorb.  The problem is, it is mostly useless. Not because the information is bad, although it might very well be skewed, but once it is released for our consumption-what do we do with it?  Our choices are limited to applying our own points of view in determining relevancy, or relying on someone else, whose opinions we agree with or ignore it all together.  Either way, …..

 
 
 

Comments


Purposeful Financial and Legacy Planning

Fee-Only Financial Planning

(970) 443-1873

3400 Rosestone Ct, Fort Collins, CO 80525

  • Facebook
  • Twitter
  • LinkedIn

©2020 by Purposeful Financial and Legacy Planning

DISCLAIMER: This website is for informational purposes only and does not constitute a complete description of our investment services or performance. This website is in no way a solicitation or offer to sell securities or investment advisory services except, where applicable, in states where we are registered or where an exemption or exclusion from such registration exists. Information throughout this site, whether stock quotes, charts, articles, or any other statement or statements regarding market or other financial information, is obtained from sources which we, and our suppliers believe reliable, but we do not warrant or guarantee the timeliness or accuracy of this information. Nothing on this website should be interpreted to state or imply that past results are an indication of future performance. THERE ARE NO WARRANTIES, EXPRESSED OR IMPLIED, AS TO ACCURACY, COMPLETENESS, OR RESULTS OBTAINED FROM ANY INFORMATION POSTED ON THIS OR ANY 'LINKED' WEBSITE.

All domestic and international rights reserved. No part of this website, including text, graphics, et al., may be reproduced or copied in any format, electronic, print, et al., without written consent.

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CERTIFIED FINANCIAL PLANNER in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

bottom of page