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Information Overload (how we sort and process information) Thumbnail

Information Overload (how we sort and process information)

Building and running a wealth management practice for over three decades, we have seen many interesting things. This includes war, global pandemic, economic meltdown, the resurgence of inflation, government uncertainty, etc. However, as I like to say, we work in all weather and don’t get to choose the economic environments in which to wade through. With that said, I believe one of the most interesting items that have appeared over time, although not necessarily a single event, is the sheer amount of information we, as humans, take in daily. It has changed how we think and live, and this is something that has filtered into the world of financial planning.

We probably don’t need to discuss the fact that technology has changed how much and what kind of information we receive. We all have our anecdotes. What’s interesting is the human science behind these changes. After all, our brain can only have one thought at a time. And more importantly, when it receives information, it must process it into something that makes sense. So, when we receive such an increase in data, it changes how we process. In addition, we are bombarded with stuff that has nothing to do with our lives but is made to feel like it is. This adds to the situation because we gain a mixed feeling of emotional importance and confusion, and ultimately, we become overwhelmed.

Let’s tie this into wealth management. We believe this is a valuable discussion for two reasons. First, each client we work with comes into our office from their personal world and all we discussed above. There has been a change in the way we all communicate, what we expect, and how we process information. We are directly adapting to that through client service, meeting agendas, marketing events, etc. On the second level, the complexities of the financial world can often cause information overload due to the sheer amount of data surrounding investments, taxes, economic cycles, and global politics. This matters greatly because financial planning is not just about the latest clever recipes or tricks, but our life meaning, what our legacy looks like, and how we spend our wealth.

We want you to know that at Lee Stoerzinger Wealth Management, we completely understand how our world has changed and seek to help bring clarity to the lives of all we are blessed to work with. Our goal is to turn information into knowledge and help our clients apply it directly to their lives. After all, in so many ways, we all just want to know that we are going to be ok. We cannot and do not want to change progress or history, but we are armed with the tools to help people understand and gain certainty. And we believe that’s what really matters.

Investing involves risk. No investment strategy can guarantee positive results. Loss, including loss of principal, may occur. Material discussed is meant to provide general information and it is not to be construed as specific investment, tax or legal advice. Keep in mind that current and historical facts may not be indicative of future results. Diversification is an investment strategy that can help manage risk within a portfolio, but it does not guarantee profits or protect against loss in declining markets.

This content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. (C) Twenty Over Ten