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Though there may be little you can control in the realm of investing, there are at least four things that you can. They include knowing your risk tolerance, being aware of how tax rules affect your investments, being mindful of the fees you pay, and looking for conflicts of interest in your advisor. Tending to these four considerations will increase your chances of success.
Are we on an investment cliff? Itâ€™s in our nature to assume that current trends â€“ whether good or bad â€“ will continue. But itâ€™s important to keep in mind that the market is random. Predicting its future from the recent past is less than accurate. Thatâ€™s where the statistical principle, regression to the mean, comes in.
Medical professionals are among the millions of Americans who confuse the financial products they own with having a retirement plan.Â Unfortunately, most individuals donâ€™t have a plan. Instead, they own a variety of products theyâ€™ve been sold by a commission-based financial advisor, broker or insurance representative â€” who often is a salesperson masquerading as a financial planner.