Today a little creature named Punxsutawney Phil will come out of his burrow in Pennsylvania and let us know whether to expect six more weeks of winter or an early spring.
Tradition has it that if Phil sees his shadow then he'll get scared and we'll see six more weeks of winter.
But if he he doesn't see his shadow, then we'll have an early spring.
According to one webstie if you go back over 100 years, Phil's only been right in predicting the weather about 39% of the time. Not a great track record if you ask me.
While no one actually takes Phil very seriously, after reviewing many physicians investment portfolios--many of which are managed (or maybe I should say mismanaged) by financial advisors--I'm convinced that many of you invest like groundhogs.
Your investment strategy, or your financial advisor's investment strategy, revolves around one thing-- making predictions.
Take 3 examples I've seen after reviewing many physicians retirement portfolios during my second opinion financial consultation:
1. Most of your portfolio consists of individual stocks
I suppose there's a chance that you'll pick the winning stocks ahead of time, but if that's the case then why haven't you quit practicing medicine yet?
I mean seriously.
Why even show up to your clinic or the hospital or the operating room or the ER if you can strike it rich by picking the winners?
2. You or your financial advisor only invest in actively managed mutual funds
This is really just an extension of point #1 above, except that now you are predicting which mutual fund managers will beat the market.
What that really transalates to is that you're predicting which mutual fund managers can pick the winning stocks.
It's like saying "Let me predict who can predict."
Think that's silly?
Open up your portfolio once in a while and tell me if I'm wrong.
3. You got out of the market in 2008 or 2009 and didn't get back in during the recovery
Well, if you did that then no wonder you're still working your butt off in the hospital or clinic.
No wonder you haven't retired yet.
No wonder you're stuck on the hamster wheel to nowhere.
You only missed out on about a 100% stock market gain since March 2009.
Oh, and in case you're wondering, even if you caught the downturn at the worst possible time, you should have gotten your money back and more by now.
Now I'm gonna really make you mad.
If you had a disciplined investment strategy at all--and especially if you hired a financial advisor--you should have been rebalancing your portfolio into stocks during the downfall.
How many of you did that?
So you can continue to invest like a scared groundhog whose predictions have been dismal, or you can take action right now and get your investment portfolio and retirement in order.
The first step?
Schedule your second opinion financial consultaiton right now by clicking here:
But I've got to warn ya. The consultation ain't for weasels if you know what I mean. It's only for physicians who actually care about their financial lives and take this stuff seriously.