Wednesday, November 5, 2014
The Money Focus is YOU
When you go to a restaurant with a group, you all might look at the menu and then each order...what suits you....yes...you might consult a bit, but normally folks order what over their lifetime they prefer...Ditto for going shopping at the store...one picks out what one likes...and ditto for going to a dance...preferences vary quite a bit as to what is beautiful...so one makes choices...and eventually one has to live with those choices....
It is ironic then, that in the field of money or investment...on t.v. one is presented with investment ideas as if they were "good ideas" for everybody....Nothing could be further from the truth...the very basis of all doctrine about investments is that they must be "suitable" for the investor...Thus, Investments like clothing are for you...and are personal...and they can be modified over time as one gains weight etc....they are not uniforms.
The little book of Money explores this "fishing pole" of investment...in that the knowledge of investing is a fishing pole that can yield a treasure over a lifetime....this book is not the fish...you must catch fish yourself with the pole...and your skill in doing so can take a lifetime...it cannot be purchased quickly...it cannot be delegated out to an investment advisor and left on the shelf...that is just an unrealistic expectation...a way of avoiding self knowledge...and a wonderful way to fail...