After all my years in this profession, I still don’t really know what makes someone or some group “Smart”. There is no standard definition. As a matter of fact, their confident predictions are wrong more than half the time.
“Smart money” generally refers to a person/institution with a lot of money. We might think of them as experts. Historically, the “Smart Money/Expert” has not translated into outsized returns.
I’ve heard it said that the only smart money is the money that knows its own limitations. In other words: You Don’t Know What You Don’t Know!
Even if you are a very smart, intelligent person is other aspects of your life, it is perfectly okay to recognize that you don’t know everything about planning and investing. Neither does the “smart money/expert”. Once we define the limits of our knowledge and understanding, we can focus our time and energy on what matters most – those things we can control.
We can control: our decisions and reactions to uncontrollable market events. We can follow a disciplined and deliberate decision-making process crafted with our financial advisor.
We are here to help. Let’s have a conversation about your decisions, reactions and process. Schedule a conversation online today at www.financialplanpartners.com or call us at 612 436-3733.