When it comes to saving, are you doing the hokey pokey or the cupid shuffle?

Depending on your current age and interests, having read the above and the title of this article you might assume that you have some idea what this article is going to be about — or absolutely no clue.

In either case, if you have read this far, I’ve got your attention. That’s the interesting thing about titles, in a sea of words a writer has about a nanosecond to capture your attention and entice you to look further.

Being well known, or a trusted authority on a subject may count for something, but it is not enough on its own to land you readers, or customers, or followers.

You have to follow that up with a steady stream of reliable, accurate trustable information. The question is — in the current era of “fake news” where anyone can start broadcasting online from their living room — who can you trust? Can you be sure that just because your favourite vegan blogger’s Instagram feed is full of artistically arranged healthy home-cooked meals that they even prepared the food you are looking at?

Now let’s consider who to turn to for stock tips and financial advice.

On the one hand it might be tempting to trust the source with the largest number of posts or likes or followers. After all, they must have good ideas if everyone is paying attention to them right? Equally, you might assume that because you saw an item on a network television station it must be true. After all, they check all the facts before they run a story don’t they?

On the other hand, it might be best to ignore the noise and just stick with what you know. Why change a savings system, idea, or spending behaviour that has always worked for you? If it ain’t broke, don’t fix it right?

Let’s think about this for a moment. If you were heading out for a night of dancing with friends, would it be better to ask your granny to remind you how to do the hokey pokey or check out the steps to the cupid shuffle on YouTube?

Trick question! The correct answer is neither. The cupid shuffle hasn’t been the hot new dance for more than ten years. My point being, that regardless of whether the hokey pokey or the cupid shuffle was the latest dance craze the year that you set up your long-term savings goals and investment strategy, things change. The market changes, interest rates change, investment strategies change and your long-term savings needs change.

The only way to be sure whether your money is invested safely and correctly for the long haul is to have your portfolio, ideas, strategies and objectives reviewed annually. The only way to be sure that you are getting good investment advice from someone you can trust is to meet them in person and ask questions regarding the way your money is invested, the performance of the investment vehicles themselves, the company or banking institution, and the individual that you are consulting.

Reading about market trends and stock tips online might be fun, but unless you are an experienced investment professional don’t blindly believe what you read. Gather these ideas and theories and discuss them with an expert.

• Robin Trimingham is an author and thought leader in the field of retirement who specialises in helping corporate groups and individuals understand and prepare for a new life beyond work. Contact her at www.olderhoodgroup.com, 538-8937 or robin@olderhood.com