Chuck Jaffe at Marketwatch writes about his father-in-law's financial path in life (article).
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... people worry about getting the absolute most from their money, about getting optimal results from each and every purchase and transaction.
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The moral of his financial story is a simple one: Financial goals are about more than just money. Factor in the time, worry, personal values, hopes, dreams, and anything else tied to money, then take a path that allows you to reach your goals, not just by the number but in keeping with your personal attitude.
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When young people ask me about investments, I ask how much time, effort do they want to spend? How much do they enjoy the process of picking stocks or funds? For many the answer is that they don't have much interest, and don't want to spend much time. For them, the best path may be what some call "lazy portfolios," using ETFs and/or index mutual funds.
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