Editor’s note: This is a transcript of the audio file.
For right-brained, creative, big-picture types, investing can seem too boring, too complicated … too … mathy. But it doesn’t have to be.
I’m Sheyna Steiner with the Bankrate.com Personal Finance Minute.
Right-brained thinkers are typically in touch with their intuition and that can come in handy. The right-brain is good at assimilating information and then delivering an answer in the form of an epiphany.
Right brain thinkers are also usually better at thinking in broad concepts rather than fine print. That’s perfect for planning out an investing strategy because it should start very broadly with your time frame and risk tolerance.
Next comes the general asset allocation plan, for instance the percentage of your investable assets distributed to bonds and stocks and then within those categories, for instance, large companies, international stocks and emerging markets. Individual investments will fill in the blanks later.
Simply by avoiding common mistakes such as chasing returns and not planning, people who believe they’re hopeless at math or anything numbers-related can look like an investing genius.
For more on this and other personal finance issues, visit Bankrate.com. I’m Sheyna Steiner.