There is no shortage of news. Television, radio, newspapers, magazines and of course, the internet. 24/7/365 information is coming at you. Whoever named it the ‘information age’ sure got it right!
Ignore It
Most savvy investors have learned to mostly ignore the news. Especially news about the financial markets. They have set up systems to limit the amount of information they take in on a daily basis. Why is this? Most of the information in not meaningful or actionable to them.
Have a Plan
Smart investor have financial plan. This can be as simple as writing it on a cocktail napkin or much more complex. Simple works better for most. Either way, they have a plan that works for them. Sure, it will need to be tweaked time marches on. That’s OK. Most investors know there will be pot holes, speed bumps and dead-end streets along the way. They will merely adjust accordingly.
Trend Watching
That’s not to suggest smart investors will totally ignore the news. They won’t. It’s just that they will take in select information in small bites. And then they will usually just focus on the macro trends. They have seen interest rates falling for the past thirty years. They understand that China, while still growing strong, is slowing down. They also know that the U.S. is no longer energy dependent on other countries. In other words, they keep an eye on the major trends and ignore the day-to-day ‘noise’ generated by the media.
The information contained in this report does not purport to be a complete description of the securities, markets or developments referred to in this material. The information has been obtained from sources considered to be reliable, but we do not guarantee that the forgoing material is accurate and complete. Any opinions are those of Thomas F. Scanlon, CPA, CFP and not those necessarily of RJFS or Raymond James. Expressions of opinion are as of this date and are subject to change without notice. Tax preparation and accounting services are provided by Borgida & Company, P.C., not as a service of Raymond James. You should discuss your tax and legal matters with appropriate professional. Any information in not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation.
Tom Scanlon has over thirty years experience in public accounting with an extensive background in the areas of financial, tax, and estate planning. He prides himself on providing in-depth and customized solutions to privately held businesses and their owners. He is a Certified Public Accountant and Certified Financial Planner®. Tom is a frequent speaker for area organizations and has recently been quoted on CNBC, Fox 61 News and AARP's blog. Tom also has been a guest columnist for numerous publications including The Wall Street Journal, Barron's, Money Magazine, The Hartford Courant, The Hartford Business Journal, and The New Haven Register. He is a member of the American Institute of Certified Public Accountants, the Connecticut Society of Certified Public Accountants, and the Financial Planning Association. Active in the community, Tom supports a variety of not-for-profit organizations.
