Investors Shouldn't Fully Rely on Economic Predictions, Says GenWealth Financial Advisor

With economic predictions varying about the Federal Reserve 's decision to cut interest rates ahead of the jobs data set to be released on Friday, GenWealth Financial Advisors' Scott Inman joins Yahoo Finance Live to discuss why investors shouldn't always fully rely on economic predictions .

Inman acknowledges that economic predictions are"valuable to some degree"; however, he notes that basing an investment strategy solely on predictions is"a fool's errand," as they often turn out to be inaccurate. He advises investors to adopt a long-term strategy, suggesting"ten years and longer." Inman cautions that making"a drastic change" to one's investment strategy based on short-term predictions may lead investors"to do the wrong thing, at the wrong time, for the wrong reason."Host points out that investors frequently make decisions driven by emotions, stating:"Qe as humans want to be able to control our futur

Source: News Formal (newsformal.com)

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