Investing is Overrated - Old Peak Finance

Investing is Overrated

June 26, 2016

warrenbuffett

Investing is Overrated

June 26, 2016

People in our industry spend almost all their time on investing — forecasting the market, gauging what a client should own, calculating risk vs. return, etc. Yes, investing is important. That’s why we devoted considerable effort to selecting our fund managers – who, I believe, are among the world’s very best.

But anyone who thinks investing is the sole driver of financial success will be in for a surprise.

A recent article outlined Warren Buffett’s 10 keys to financial success. Precisely three of them had to do with investing. And that’s from the world’s greatest investor. The other seven?

  1. Save … a lot
  2. Avoid debt, especially the expensive kind (credit cards)
  3. Keep a cash cushion
  4. Invest in yourself
  5. Learn about money
  6. If you can, give back
  7. Think long-term

Buffett did have three investing suggestions: don’t lose money, look for under-priced investments and use index funds to minimize fees.

But the key take-away: despite Wall Street’s endless prattle on the stock and bond markets, investing alone won’t get you where you want to go.

So, whether you manage your finances on your own or hire a financial advisor, adopt a holistic view. Take it from a gray-hair in Omaha who knows a thing or two.

This article is not intended to provide tax, legal, accounting, financial, or professional advice. Readers should seek advice from qualified professionals who can review their specific circumstances. Old Peak Finance endeavors to provide information that is accurate and current. However, we cannot guarantee that this information has not been outdated or otherwise rendered incorrect by new research, legislation, or other changes. Old Peak Finance has no liability or responsibility to any individual or entity with respect to losses or damages caused or alleged to be caused, directly or indirectly, by the information contained on this website.

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