Why You SHOULDN’T Want to be Financially Popular

Why You SHOULDN’T Want to be Financially Popular

In all my years of financial practice – meeting and talking with folks from all walks of life – I have yet to encounter anyone whose financial goal is NOT to make the most gains they possibly could, not a single soul. Makes perfect sense, because a person with that goal would obviously not be sitting in my office, or in front of any other financial professional for that matter.

That thought has led me to a question: Why aren’t the majority of investors financially successful? It seems to me that most folks, after a lifetime of hard work, saving, investing, end up spending their retirement years in an inadvertent cycle of financial nervousness – often wondering what went wrong.  

On the other hand, it’s not a secret that only a select few (and I mean, a tiny, itty-bitty percentage) investors are able to retire with complete financial success and the associated peace of mind.

Here’s My Unofficial Observation

Unfortunately, the overwhelming majority of investors follow what amounts to nothing but complete myths. The thing is, when it comes to money, intentions and/or following the majority isn’t enough. You’ve got to get it right! The simple fact that the majority is pursuing something doesn’t endorse it as financially prudent, does it?  Let’s face it, in reality isn’t the exact opposite the case? As in, only the few who seemingly are NOT doing what everybody else is doing achieve meaningful success.

If you are a regular reader of my columns you may have noticed that I love telling stories. Here’s one history lesson I want us to ponder. Mind you this actually happened!

Once upon a time, way back when, virtually everyone in the world thought and believed that the Earth was the center of the Universe – and that the sun, as well as all the other planets in the solar system, revolved around the Earth. Then one day, a guy by the name of Galileo Galilei came along and argued that his evidence proved the complete opposite. You know what happened to him? He was asked to “stop it,” as in “shut up or else.”

You see, to the overwhelming majority, that issue was already settled! After all, everybody had already accepted the conclusion that the Earth was indeed the center of the universe. In fact, Galileo was arrested and imprisoned for standing his minority ground. Unfortunately, he died in 1642 as a prisoner under house arrest.

That’s unbelievable, isn’t it? For those of you who may be geographically challenged, Galileo was 100 percent correct, meaning that “everybody else” in the world was dead wrong.

That said, when it comes to your finances, take a page out of Galileo’s book. The minority and unpopular perspectives are precisely what you should be seeking if you really want to hit a financial home run. Unless, of course, you want what everybody else has. In that case, follow the popular advice and you’ll end up exactly like them – mostly struggling and facing an insecure financial future.

Personal finance is the one area of your life where I can tell you with 100 percent specificity NOT to follow the majority – because I don’t believe you’ll like the outcome. Think about it!

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Contact a financial professional at Laser Financial Group TODAY to schedule your complimentary appointment that you can discuss a potentially unpopular – yet fiscally rewarding – financial solution for your future. 301.949.4449 or LaserFG.com.