They’re Paid to Get it Right… But They Got it Wrong. Again.

Picture of by Dr David Phelps

by Dr David Phelps

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hile the political pundits are still trying to figure out if the election votes were counted correctly, what I do know is this:

 Someone who was paid a lot of money got it completely wrong..

Pollsters are professionals paid to gather data, use algorithms, and predict what election results will look like. They got it wrong in 2016, and terribly wrong in 2020.

The whole world is complex today – election systems, how people behave and think, what they will and won’t say. It’s very difficult to pin this stuff down. And obviously the professionals paid to do that didn’t do a very good job.

Look at the difficulty that well-respected, educated epidemiologists have had figuring out how the coronavirus pandemic would play out, and what course of action to take.

What about the economic models people try to predict? Are we going to have inflation, deflation, low interest rates, up or down Real Estate and stock markets? What traditional retirement and economic models have you been following?

You can listen to people who are well-educated and well-paid to make their predictions. But the bottom line is: Who do you trust? Where do you get your information? Some of these people don’t know much more than you do. And some of them are paid to create a narrative around an agenda.

I don’t know what was what in this election, but my point is, following people who presume to know how to make predictions is probably not a good idea. Just because you pay someone and they’re supposed to know what they’re doing, they still can get it wrong – whether they have an agenda to sell you something or not.

You have to be the architect of your own future, financial security, and economic freedom. You’ve got to take it on yourself, but you’ve also got to be connected with a group of people who have a pulse on the investment marketplace you want to involve yourself in.

Advisors with outside eyes will do their best, but they just aren’t going to get it right any more than you are. Are you willing to step up and take responsibility for your own destiny and future? 

Be careful who you rely on - people are fallible, and they’ll get it wrong more than they get it right.
To your freedom!

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