We asked the Invstr community who made most of their investment decisions, and boy did we get our answer!
- 76% You
- 10% Family member
- 1% Employer
- 6% Financial advisor
- 7% The pet!
Well, that was unanimous! In times of great peril, the only person you can trust is yourself. After being paid at work, nobody wants their manager to remain the boss of their money, and family members should apparently mind their own business!
Without self-belief, the Invstr community couldn’t routinely bet against the crowd and earn outsized returns. “The little guy” has been empowered to take control of his own finances and not leave them in the lap of the Gods, or indeed the lap of a financial advisor (FA). The community has more faith in its animal companions to properly manage a 401k than it does an expensive professional! FAs have the book smarts, but they could also make you pay for things you could easily do yourself. Your pet would never do such a thing!
Ultimately on the stock market, we’re turning far-away business leaders into the true wardens of our invested money. They’re sat in the driving seat of our destiny, and most investors passively accept that. However, the growing popularity of dividend-paying stocks and increasingly short-term investing back up our poll. Folks want control what’s their. Is this rational?