They say the early bird catches the worm. Most interpret this adage as suggesting if you seek to increase your odds of success – the chance of discovering that pot of gold – avoid sleeping late. But this is only from the perspective of the bird. What if the maxim were taken from the worm's point of view? Then it would imply the best way to achieve life's basic objective (in this case, survival) is by sleeping late.
When seeking advice, it's always best to understand the perspective and history of the one giving the advice. Many 401(k) participants who look for suggestions pertaining to the how-to of their plan will often first turn to an investment advisor. This is not a bad thing, but it can also be a misleading thing. Why? Because, as I've written so often before, the primary focus of 401(k) investors should be saving for retirement, not worrying about how to invest.
Still, there are those few investors that have the time, talent and treasure to learn about investing. It is important they understand the most elementary ideas of investing. And, where do they go for their lesson? Usually (and hopefully) a registered investment advisor.
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Christopher Carosa
Chris Carosa has been writing a weekly article and monthly column for BenefitsPRO online and BenefitsPRO Magazine since 2011 and is a nationally recognized award-winning writer, researcher and speaker. He’s written seven books, including From Cradle to Retire: The Child IRA; Hey! What’s My Number? – How to Increase the Odds You Will Retire in Comfort; A Pizza The Action: Everything I Ever Learned About Business I Learned By Working in a Pizza Stand at the Erie County Fair; and the widely acclaimed 401(k) Fiduciary Solutions. Carosa is also Chief Contributing Editor of the authoritative trade journal FiduciaryNews.com and publisher of the Mendon-Honeoye Falls-Lima Sentinel, a weekly community newspaper he founded in 1989. Currently serving as President of the National Society of Newspaper Columnists and with more than 1,000 articles published in various publications, he appears regularly in the national media. A “parallel” entrepreneur, he actively runs a handful of businesses, including a small boutique investment adviser, providing hands-on experience for his writing. A trained astrophysicist, he also holds an MBA and has been designated a Certified Trust and Financial Advisor. Share your thoughts and story ideas with him through Facebook (https://www.facebook.com/christophercarosa/)and Twitter (https://twitter.com/ChrisCarosa).
