The Investment Scientist

What Actually Matters

Posted on: August 28, 2013

This is the title of a newsletter by my peer and friend Russ Thornton.  It is fabulously written. I asked his permission to take out a large excerpt:

A recent Onion headline caught my attention. I think I saw it on Google+.

It read . . . Report: Only .00003% Of Things That Happen Actually Matter

The article references a fake Pew Research Center report, and while clearly this is an extreme (and artificial) claim, I think there’s more truth here than fiction.

Especially when it comes to your money and your financial decisions.

Whether it’s the financial media, friends, family, advisors or your psychic, you don’t have to look far for people and organizations eager to tell you what matters with your money. And why.

Interest rates. The price of oil. Trouble in the middle east. Trouble in Washington, DC. Fed tapering. Gold going down. Silver going up.

And the long list goes on.

However, I’d like to suggest a couple of alternatives . . .

A comfortable & confident retirement. Time spent with those you care about. Time and/or financial contributions to organizations that are meaningful to you. Educating children or grandchildren in the manner you desire. Taking less investment risk. Saving less. Working a couple years longer if it means you can accomplish other, more important things in your life.

And the long list goes on.

What’s missing in The Onion article along with all the time, money and hot air spent talking about your money and what’s important is . . . your life.

Your life is what gives your money context.

And without the context of your life, I’m not sure much else is really that important. Especially when it comes to your money.

Okay, maybe it’s more than .00003%. But then again, maybe not.

1 Response to "What Actually Matters"

Thanks for sharing this with your audience, Michael

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Author

Michael Zhuang is principal of MZ Capital, a fee-only independent advisory firm based in Washington, DC. He is also a regular contributor to Morningstar Advisor and Physicians Practice. To explore a long-term wealth advisory relationship, schedule a discovery meeting (phone call) with him.



You may also get his monthly newsletter, or join his Facebook page for regular wealth management insights. Michael's email is info[at]mzcap.com.

Twitter: @mzhuang

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