I will admit it, this article is written purely out of recent frustration. After having lunch at Panera Bread, I was asked no less than 8 questions to complete a simple order. Afterward, I had decision fatigue from the ordering process alone. Cup or bowl; special salad dressing; try a special lemonade, chips, apple or bread; if bread, French bread or sprouted grain roll; add a cookie for a dollar; do you have a MyPaneraCard; would you like a receipt… ENOUGH. I’m going to skip Panera next time I go out to lunch purely because of the options and upselling.
Taking a step back, I can’t help but see how this is happening in the investment universe as well. There are now super specialized ETFs and mutual funds that target such a small percentage of the market. Argentina only investments, we can do that. Timber and Forestry, done. Investing in the rare earth metals mining companies, easy. Unfortunately, the ever-expanding investment options create decision fatigue and detract from the purpose of investing.
This is where a financial advisor is more and more important today than ever. We help our clients filter through the myriad of investment options and focus on what matters: broad market diversification and low investment costs. In addition, other financial planning items can be just as important as investments.