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Be A Control Freak (sometimes)!

December 2, 2016 by Michelle Morris

Hello!

Your financial success depends on a lot of factors. Some of them you have no control over. But the good news is many you do.

Be a control freak on the things you CAN control. And forget the rest!

Best,

Michelle Morris, CFP®, EA
BRIO Financial Planning

 

person-at-control-panel-page-001

Recently I got a gem of a book from  Dimensional Fund Advisors, (DFA) a mutual fund company I use, titled “35 Quotations On a Better Way to Invest”.

In the coming months I will feature a few of my favorites.

Today we review #27, pictured here: 

 

control-image
Dave Butler, a DFA executive, goes on to say “no one controls how capital markets behave”. I would add that no one can consistently predict how they will behave either!

You also don’t control economies, elections, or the weather. Presidents come and go as do hurricanes! (Any suggestion that past, current, or future presidents are hurricanes is purely coincidental)

But the list of things you can control regarding your investments is lengthy:

  1. Having an investment philosophy you can understand and stick with
  2. Staying diversified among multiple asset classes
  3. Minimizing investment fees and costs
  4. Your savings rate
  5. Asset allocation

You control many aspects of your financial success outside of the investment arena as well:

  1. Your spending/debt levels
  2. Minimizing taxes
  3. Protecting your loved ones and assets with appropriate insurance coverage
  4. Social security timing decisions
  5. Buying the right size house and using a mortgage appropriately

So be a control freak on the things you can control!   And try to forget the rest.

 

Topics: Filed Under: Investing

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From the Blog

  • Capture Those Dollars!
  • Good News for Savers in 2023
  • How Will You Pay Your Taxes in Retirement?

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Investment advisory products and services are offered through advisory representatives of BRIO Financial Planning, an investment advisor registered with the Commonwealth of Massachusetts.

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Contact Us

Michelle Morris, CFP® EA
BRIO Financial Planning
1073 Hancock St. #101
Quincy, MA 02169

michelle@briofp.com
617-934-0419 (phone)
617-934-1933 (fax)

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