Cornerstone Wealth Aug 2017

The First Spot Is the Best Spot Why Parking in a Prime Spot Isn’t Worth It

in common: They offer convenience, a convenience many drivers are willing to fight for.

When it comes to scoping out the best spots, has identified two types of drivers. Upward of 38 percent of drivers are “vultures.” These drivers circle around the parking lot at least twice before settling on a spot. Another 24 percent of drivers are “stalkers.” These drivers follow people carrying bags or pushing carts toward their own cars. Stalkers can be particularly troublesome for other drivers who only care about getting in and out. They are notorious for pulling near their target spot and waiting. This can cause traffic jams and hamper the parking process for others. Are parking tactics like this really worth it? If you value your time, the answer is a resounding no, according to the Southeastern Psychological Association. Drivers defined as vultures or stalkers “spend significantly more time on the lot” compared to virtually all other drivers. If you value your time, parking in the first available spot you see will get you in and out faster than parking anywhere else.

But is it worth it?

hour or day to day can be an emotional roller coaster. For some investors, this emotional factor can directly impact their behavior, leading to snap decisions. Financial markets are not suited for anyone looking for instant gratification. Those who dedicate themselves to the long-term mindset, remain immune to emotional upheavals, and stay consistent in their approach are likely to find success. Setting emotion aside can be difficult, but it’s essential. The market can shift considerably over a single day, let alone a week or a month. These ups and downs are minor fluctuations over the course of a year, five years, or a decade. Let’s look at the parking spots near and around the entrance of the store. In an ideal world, parking in these spots ensures you get in and out quickly. But we don’t live in an ideal world. In reality, the spots closest to the store entrance are often the least convenient spots in the entire parking lot and almost never worth the hassle or aggravation. Foot traffic dominates the area around a store entrance. During peak hours (and peak shopping days), you may spend more time waiting for people to filter in and out of the store than it would take to park farther away and walk into the store. Areas near store entrances are routinely congested, and when drivers compete for those “best” spots, traffic jams are guaranteed.

We are all guilty of circling the parking lot at least once in search of the perfect parking spot. There are spots we consider more valuable than others — spots where we desperately want to leave our vehicles. For some people, the prime spots are nearest the store entrance. For others, the best spots are under trees, or spots that give you optimal door-opening space. All of these “perfect” spots have one thing

AMatter of Time Why Long-Term Investing Makes Sense

There are many misconceptions about how and when to invest. Many investors look for trends and hope to invest at just the right time in order to reap the rewards. When it comes to timing, however, following trends may not be in an investor’s best interest. Take, for instance, the attributes of a successful investor. There are two major attributes shared by all successful investors. First, their behavior is not unduly influenced by their emotions. Second, they maintain a deeply consistent and methodical approach to investing. It’s critical to remember that financial markets are inherently unpredictable. This is particularly true in the short term. Observing market performance hour to

A 2014 study by DALBAR confirmed the notion. The study found that the overall results of an investment rely more heavily on an investor’s behavior than on individual investment performance. The study also revealed that investors incurred the heaviest losses following market decline. Investors were largely reactive. They reinvested once the market had already started recovering. This is emotional investing.

2 | 866-485-8505

Made with FlippingBook flipbook maker