Core Principles Series – Principle #2
If it sounds too good to be true, it probably is…
We all like a great deal and there is something a little twistedly pleasing to feel like you got a better deal than anybody else. The reality though especially in the finance world and when thinking about your money is that – too good to be true is too good to be true.
Thinking about the three scenarios that have been posted over the last few days – each of those people dedicated all they had to a single investment type and each of them did so because they felt like it was a deal they couldn’t pass up.
Sound investing and good planning takes time and thoughtful review. Send me a message and let’s review your situation.
As a reminder, the 10 principles of smart investing are:
- Don’t put all of your eggs in one basket
- If it sounds too good to be true, it probably is
- Urgent and only available today = wrong
- Follow the money
- Buy low and sell high
- The balance of risk and reward
- Fail to plan, plan to fail
- The endowment mindset
- Whose money is it?
- Fact based on an observation of one is not meaningful
If you’d like to set up an appointment to talk, please send me an email – Todd@ColwynInvestments.com