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Hi,
I think the main reason for the failure is due to Mr. GREED.
1. People don’t diversify because Mr. GREED wants them to earn more out of the fastest growing company
2. Some of them knew it is too good to be true, but Mr. GREED tells them this is really your dream comes true
3. They did their homework with Mr. GREED.
4. People don’t diversify because Mr. GREED wants them to earn more out the fastest growing asset class.
5. They spoke to Mr. GREED about their investment.
Rendell
The Brandless Blog
Yes – seek out some professional help to advise you on how to manage your money. You don’t have to do it along. However, you can be smart by hiring an adviser who works on a flat fee or an hourly fee, so you know that he or she is working for YOU and not for a commission. And Try to find a planner who is at about your same life stage so that they have a good understanding of where you are and where you want to be. For instance, I have two young children and my whole practice is geared towards new and expectant parents. I am highly tuned into the challenges that come with a growing family and can closely relate to my clients. On the other hand, I wouldn’t take on a client who is nearing retirement, since I don’t have as much insight to their goals and worries.