Dumbfounded by Diversification
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Growing up, I didn\\u2019t know the difference between salad and lettuce. I\\u2019d always asked my dad to put salad on my sandwich. Luckily, dad knew what I meant.
\\nAll this to say, words have meaning, and they can often get lost in translation. There is a lot of vocabulary when it comes to finance, and there is a language of finance. You need to be careful not to misuse these financial terms in a fashion that would mislead your portfolio or financial plan.
\\nIt\\u2019s helpful to have an advisor. They can be your guide; they can be your translator. My dad was a great advisor; he didn\\u2019t pile a salad onto my sandwich. Our waiter just took our order and gave us what we asked for (nachos); he was not much of an advisor. You need an advisor, as these mistakes in the realm of personal finance can be costly.
\\nBecause maybe, just maybe, diversification doesn\\u2019t mean what you think it does.
\\nLinks mentioned in this episode:
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