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| Kelly Ruggles | Image credit: yourmodernliving.com |
Today, many people are being bombarded with overly sensationalized investment fads based on hype and short-term gain rather than sound and intelligent planning. Kelly Ruggles notes that this faddish behavior has no place in a person’s long-term financial plan, which must be grounded on well-thought-out investment choices. He notes that there are many common mistakes committed by many investors as a result in investments based on spur-of-the-moment fads, which can often do more harm than good financially.
Many first-time investors base their investments on fleeting, faddish behaviors that may seem sound at first glance (such as investing in a company that is currently a major player in the industry) without thoroughly analyzing the risks involved. These often lead people into investing in large companies from similar industries based solely on fleeting factors like past performances, causing them significant losses when these businesses underperform.
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| Kelly Ruggles | Image credit: munknee.com |
For Kelly Ruggles, “beating the market” is an impossible and illusory goal that usually leads to more ill-informed investment decisions. Realizing that a person has made bad decisions in the past and is willing to take time to understand his investments is the best way that an investor can turn a bad financial situation around.
Financial planning should be an activity reliant on thoughtful, well-informed decisions based on sound financial advice rather than sporadic guesswork based solely on poorly analyzed current trends.
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| Kelly Ruggles | Image credit: allaboutmoney.com |
More information on common financial and investment follies and more can be accessed from Kelly Ruggles’ official website.
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