Why Are People So Willing To Let Someone Else Control Their Investment Accounts

Category: Finance.

When I was an accountant, I was frequently amazed by the choices of my clients. When it came to buying an appliance, they spent hours trying to save$ 5Would they trust the appliance store salesperson to tell them if they were getting a good deal?

They spent more time choosing a household appliance than they did learning how to handle their investments. Nope, they would do the comparing on their own because the salesperson has a conflict of interest- commissions! Why are people so willing to let someone else control their investment accounts? However, when faced with investment decisions, they leave the major decisions up to the investment salesperson( broker, banker, insurance agent, etc) . The reasons might surprise you: It s human nature to follow others- parents, siblings, fellow employees, best friends, etc. Leave the decisions in our hands, we can handle it for you" . It is easier to follow the lead of others, and some people feel safer by staying" in the group. " It s easy to rely on the" professionals. " They have spent years saying" it s too complicated for you.

It is amazing to see how powerless people have become by letting other people make their investment selections. Most people feel that they lack the education and the practical experience( and they are probably correct) . It s scary to consider making investment choices. It takes education and practice to become a good trader, but it is well worth the effort. So what! It takes time and effort. If you could double your profits by learning a few techniques, would it be worth the time?

It s easier to let someone else choose the investments, that way someone else can be blamed if something goes wrong. YES, especially when you realize that you can earn money over and over as you use those techniques. I call this" security through blame. " Meaning that people seem to feel safer if they can blame someone else for the mistakes. Your broker received commissions whether you win or lose! However, when it comes to investments even if you can blame someone else, you alone are the injured one- you are the one with less money as a result of it. Nobody cares about your money more than you, nobody.

It can be a rewarding form of work as you learn basic strategies and successfully apply them. Therefore, nobody but you should control the destiny of your investments. If you wanted to, you could become a professional too! I am being a little obnoxious intentionally to make an important point. Just go take a three day cram course to pass the exam, pay the license fee and if you pass go get your business cards printed! Don t be fooled by letting someone else manage the precious funds you critically need for your future. You can handle your portfolio in a way that is right for you, with safety nets and sensible trading techniques.

You are the best one to appreciate how hard you worked for your money, and how important it is to avoid losing it. I am an expert in this field. Come to my two- day seminar" LIFESTYLE TRADING WITH LEAPS" , let me help you profit as you gain confidence by applying powerful trading techniques, and by using" safety nets" and" insurance. " Darlene Nelson with BetterTrades I know how to trade successfully and I know how to teach others so they can do the same.

Read more...

Changing Your Spending Habits Will Be Even Harder - Finance Blog:

Budgeting isn t rocket science.

Debit Cards Defined - Marisa Olsson's Finance blog:

If you are new to credit cards and banking, you may have heard of debit cards but be unsure of their exact features.

The Concluding Thing Whenever Watching How To Start An On Line Enterprise Is How You Arrange To Promote Your Website - Willa Ihle about Finance:

In this commentary today on how to initiate an online business, we will look into whatever must be finished to succeed on line. By explaining whatever to hunt for online, this should be a first- class method now for you to discover how to launch an online enterprise.