Overwhelmed by financial noise?

Noise. Information. The tidbit that may actually be useful. How do you tell the difference? How do you sift through noise and information to find that tidbit that you are actually seeking?

Carl Richards, the author of the book Behavior Gap, provides some insight in his NY Times article called Try to Focus on Your Personal Economy.

Carl discusses first the volume of information on the internet, which grows each and every day. When you read about that explosion of data it is simply astounding (e.g., there are as many bits of data as there are stars in the universe)!

People need to become more and more responsible for their own financial decisions at the same time the volume of data meant to help them explodes. So how do you keep your sanity while trying to decide actions you take about money?

Carl’s article suggests moving away from the distracting questions and issues about current events. Instead, focus on your specific situation and what you can control. When you do that you sift out the noise and useless information and quickly arrive at stuff that is actually useful specifically for you.

 

About Larry Frank, Sr.

Larry R Frank Sr., MBA, CFP®, is an experienced financial advisor and a published author on Retirement Planning Research. Have a financial question? Click Here to Ask Larry

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