It’s really easy to get caught up in someone else’s investment plans. They’ve done the research, talked to people involved, seen the numbers, reviewed the forecast returns and listened to the spiel. It all looks great. They’re impressed and excited by the prospect.
So do you jump on the bandwagon and follow their lead? If it sounds great, why not?
The reason why not is that it may not be great for what you want to achieve. It may not suit your investment level, your timeframe, the returns you’re aiming for or the asset you want. And, it’s always far better to do your own research than rely on someone else’s.
Creating a well thought out, well-researched plan is the best way to achieve what you want in life. Of course, you have to put the plan to action. But you need to have a starting point, an end goal, a timeframe and some structure in the middle.
Investing in someone else’s dream may not get you to where you want to go.
Listen to their excitement, cheer them on, but make sure it fits with your own plans before you join them.
How’s your financial plan looking? Do you know where you want to get to and how you’re going to get there?
We’d love to help if we can.