A second set of rocks to avoid on the Sea of Money is associated with our trust in planning: a belief that purchasing particular financial products will provide the financial protection you need.

You may not own any of the following products. If you do, or if you are considering purchasing any, you should scrutinize the implicit promises (italicized in the following list).

• Annuities − Guaranteed income for life.
• Mutual Funds − Protection through diversification.
• Stocks and shares − Know what you own.
• Bonds & Bond Funds − Safer than stocks.
• Real estate − Real assets with real security.
• Insurance − The ultimate safety net for you and your family.

For a list of the questions or observations that you should offer as a response to such promises, click here.

How many of these products do you already own? How much unearned trust have you placed in them? You may wish to reassess any or all of your investments. Set up a task to do this work.