MMP142: Financial Fads and Fashions
In any sphere of life, there are things which are big news one day, then fade away the next, and then there are the timeless things which stand the test of time. This follows in personal finance too, and today I’ll be looking at some financial fads and fashions, as well as some timeless truths for those looking to increase their wealth.
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In this session:
There is so much marketing in personal finance, and so many conflicting voices telling you what you need to know and what you need to do, ahem, that it can be hard to know what is true and permanent.
You want to avoid these short-term financial fads and fashions, and I’m here to look at some examples and show the timeless alternatives which have stood the test of time, and crucially, how to tell the difference.
In this session, you’ll discover about financial fads and fashions, and:
- What constitutes a ‘hot’ investment and why they come and go
- We we often fall for these marketing messages
- The difference between a legitimate tax-saving scheme, and one which will be scrutinised by HMRC
- My pet-hate funds of the moment and why they’re not delivering on their promises
- The two common-sense rules of thumb which will help you avoid being taken in
- Why it is essential that you know what you’re really invested in
You are responsible for your own wealth. You might hire an adviser – a good idea – to help you make big decisions, but it’s your money at the end of the day and you have to take ownership. Do your homework and take you time with all decisions. If you’re concerned about anything – either email me or leave a comment below.
Join the conversation
I love to read and respond to your comments, so please do join in and share. Question: Have you invested in any of the fads and fashions I talk about this week?
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Hugs and kisses to Philh56, Kellaher and Thezoofox for their reviews this week – much appreciated folks!
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