Behaviorial Biases

The last two weeks is a perfect example of why you must not panic and sell when the stock market goes through a period of volatility. If you panic and sell, then you miss out on the rebounds. If you did that, then guess what? You've just discovered two things. One is that you are not a savvy investor and the other is that you need a professional money manager. Trying to skimp on paying a financial advisor just got blown to smithereens by you selling out in a panic. You didn't save anything. Instead you lost money. If you had a professional money manager, then you would not have lost anything and most likely, you would not have created a tax liability either.

The truth is that your knowledge of stock markets, financial planning, understanding investments and the like does not hold a thimble full of knowledge compared to my 31 years of experience. I know that sounds egotistical, but the truth is that if you were a CPA or an attorney for 31 years, then odds are that you would know more about your profession than any outsider using TurboTax or Legal Zoom. Think about it. Can you really disagree with me? Even if you worked construction for 31 years, or were in real estate for 31 years, then the odds are that a first time house flipper, or someone selling their house on their own could not hold a candle to these professionals. Consequentially, I am not really being egotistical when I say that you cannot hold a candle to my level of expertise.

The value of someone like me is the knowledge and experience that they have built over the years and this benefits you. If you choose to take advantage of it.

www.firstcoastplanning.com.