People all over the world quote William Shakespeare daily. Investment advisors are no strangers to the plays of the “bard from Avon,” either. It seems fitting given the number of times Shakespeare mentions terms that befit the investment industry. Some college professors have engaged their students in courses of economics study with an underlying theme of Shakespeare plays.
What dynamic investing advice can we derive from the words of the world’s most famous playwright?
Leave the studying of investments to the pros. In the “Taming of the Shrew,” Shakespeare offers us some advice through the character Tranio: “No profit grows where is no pleasure ta’en: In brief, sir, study what you most affect.” This quote might work better for an investment advisor than for the everyday investor. Too many people listen to the “advice” they find in magazines, television shows and Internet sites that guide them one way or another, eventually leading to an unwise investment. The process of investing is not a game, which all good investment advisors know. Why? Because they study what most affects their clients.
Let an investment advisor determine what’s legitimate. Shakespeare’s most famous play, “Romeo and Juliet,” features a well-known quote from Romeo as he speaks of his beloved Juliet: “What’s in a name? That which we call a rose by any other name would smell as sweet.” Some people refer to their research into an investment as a “sniff test” to make sure the thing they are interested in smells as sweet as it sounds. Investment advisors know that terminology can be deceiving when it comes to financial matters, which is why they can be trusted to ensure that what you call a rose is really passing the sniff test. (This concept of “what’s in a name” is also true of the numerous credentials professional advisors can place after their name… in this case, indeed do your homework on what the credentials mean and how advisors earn them.)
Keep yourself out of the hole whenever possible. “Hamlet,” another of Shakespeare’s most famous plays, includes some sage advice from Polonius: “Neither a borrower nor a lender be; For loan oft loses both itself and friend, and borrowing dulls the edge of husbandry.” There are several take-aways from this, but the most important being – stay out of debt, either from giving away to friends or unwise investments, or by taking out loans with high interest rates that will keep you from getting ahead.
Don’t put your wealth where it may not do anything for you; instead, let a professional advisor make some calls for you. Dynamic investing is something best left to professional investment advisors. One of the biggest mistakes risk-averse people make is socking their money away in places that do absolutely nothing. From “Venus and Adonis,” we find this nugget: “Foul cankering rust the hidden treasure frets; But gold, that’s put to use, more gold begets.” An investment advisor can help you place your “gold” in places that will gain you more “gold.” Socking your riches away in a low-yielding savings account is typically not a wise investment, for example.
The professionals at Family Investment Center may not be thespians by trade, but you don’t really want dramatists managing your money. They are, however, quite adept at helping you invest your money wisely and understand the steps you need to take for your future – because that’s all they do, day in and day out, for clients from all walks of life. Contact Family Investment Center today and find out what dynamic investing options are available to get started on your own great storyline.
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