At this time of year, it’s common for predictions to emerge about the economy. While they are interesting, I don’t think they provide us with much useful information.


Why? Because experts really don’t know anything more than the average investor. They just spend more time analyzing and reporting on available data.


But it got me thinking…what advice would my future self give clients today if we were meeting 10 years from now? Here are my top 5 tips from the future:


1.Stop thinking about stocks like gambling. Today, we worry that stocks might be a bad investment. Thirty years from now, we’ll wonder why we owned anything else. For perspective, if the DJIA averages the same thing it has for the past 90 years over the next 10, the Dow will hit 52K in 2027 and 100K in 2033.


2.You won’t beat the market over a lifetime of investing and the harder you try, the worse your results may be. The market may appear easy to beat at times (and there may be spurts where averages can be outperformed) but costs are hard to overcome, and lucky investors are indistinguishable from ones with potential skills.


3.Nobody will care that you didn’t get that Sometimes our biggest setbacks end up being a catalyst for our greatest leaps forward. Michael Jordan was cut from his 8thgrade basketball team. The rest, as they say, is history!


4.That thing you desperately want to buy right now won’t transform your life like you think it will. After you part with your hard-earned money, you might barely notice this purchase, or even regret making it. Relationships are infinitely more important than stuff; that’s the best place to invest your resources.


5.You have one shot at being a good custodian of your wealth. The money you have now will exist when you’re gone. If you’re in charge for just a short period, what does being a good custodian look like for you? Don’t wait to do the right thing.


I really enjoyed this exercise; you might want to try it.


What are your top 5 tips from the future? Share your list with me at dgaynes@intfingroup.com

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