Today’s post is part of the Blog for Financial Literacy campaign spearheaded by Glenn Cooke of Life Insurance Canada.com. Glenn encouraged dozens of bloggers to devote their November 15 post to sharing their “single best financial tip,” in recognition of Financial Literacy Month.
Long-time readers of Canadian Couch Potato know I occasionally explore some pretty arcane facets of index investing. I hope this advanced information has helped serious index investors make better decisions, but I recognize it may have left some readers scratching their heads. With that in mind, here’s the single best financial tip I can offer: keep your investing strategy simple.
We need to get rid of the idea that successful investing has to be complicated. If you’re naturally curious like me, you’ll genuinely enjoy spending time and effort to learn the subtleties. Gaining a deep knowledge can be empowering, but it’s not essential. What’s more, it comes with the risk of analysis paralysis and the tendency to second-guess your decisions.
Do you disagree with one of the ETF choices in my model portfolios and want to substitute another?