There is no shortage of financial news. You can read an article, watch an interview, or listen to a podcast whenever you want to know what is happening in the economy or markets. But having more information does not always mean you have the full picture.
The Bias of News
A news story can contain accurate facts and still give you a misleading impression. The facts a reporter chooses to emphasize, the experts they quote, and the information they selectively omit influence how you understand the story, and the conclusions you draw.
The financial media often share “expert forecasts.” These forecasts tend to be confident, and include select evidence to back up the forecast, but don’t confuse confidence with accuracy. There is almost always another side to the story.
Media outlets compete for your attention. They want you to keep reading, watching, and clicking. That does not mean you should ignore financial news. It does mean you should be careful about how much weight you put behind the information and whether you allow it to influence your financial decisions.
A Resource Who Knows You
A better approach is to question the incentives of the resource and rely more on the one resource that knows you and has your back. Me.
The media may be 24/7 and promote many tantalizing headlines, but I am your best and most reliable financial resource. Not only do I understand your unique situation, your goals, your plan – I also have your best interest at heart.
Whenever you have a financial question or concern, please share it with me. I love hearing from clients because it gives us a chance to talk through what they’ve read or heard, consider information that may have been left out, and put it all in the context of their plan and goals. That is what I am here for!
The Hatlestad Group is an independent wealth management firm based in Edina, Minnesota, primarily serving successful head-of-household women, late-career executives, and pre-retirees. With a tailored approach to fee-only comprehensive wealth management, they empower clients to live out their next chapter with vision, wisdom, and resources, creating a purposeful and meaningful future. They can be reached by phone at (763) 259-3637, via email at info@thehatlestadgroup.com, or by visiting their website at thehatlestadgroup.com.
© The Behavioral Finance Network
The information presented is based on sources believed to be reliable and accurate at the time of publication. This material is for educational purposes only and does not necessarily reflect the views of the author, presenter, or affiliated organizations. It should not be construed as investment, tax, legal, or other professional advice. Always consult a qualified professional regarding your specific situation before making any decisions.