We all want to do what’s best with our money.  Figuring out what’s best is a little more difficult.

For sure, no-one wants to be left feeling they made an investment that won’t perform.  But it’s just as important to avoid waiting forever for the “perfect” savings opportunity to come along.

The trouble is, perfection doesn’t exist in the world of saving, investing and pensions.  If it did, we’d all be billionaires.

Are you wasting your time?

In fact, searching for perfection holds you back, because it uses up time.  That time could be spent putting your money to work with the power of compounding.

And it leads to procrastination and missed opportunities.  ‘Still haven’t found what I’m looking for’ is a pretext for not getting your finances in shape.

Perfection is a false hope

By its nature, investing your money for growth is not completely predictable.

There are businesses in Ireland which advertise perfect investment opportunities.  But in the world of finance, everything has its price.  For example, a capital guarantee will reduce the growth prospects of your investment.

What’s more, any investment that seems perfect today could look less good tomorrow.  Your investment is a moving target, changing all the time.

Yes, investing involves taking a risk.  But so does not investing.

Good enough is good enough

It’s time to embrace that risk.  That means giving up on the search for a perfect investment, and identifying some options that are right for you.

It turns out that the smart (perfect?) thing to do to improve your chances of growing your money, or building your retirement plans, is make a sensible start.

Give up searching for perfection.  Far better to look for a good investment, suitable for your needs, and give it time to work for you.

 

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