The “best” syndrome: best for what?

The “Best” Syndrome!!!

We are always looking for 'the #Best'.

The Best #CreditCard.
The Best #MutualFund.
The Best #School.
The Best #Investment.
The list goes ON!

But ask one simple question:
Best for what?

And suddenly, the answer becomes complicated.

For one person, the best credit card means cashback.
For another, it's rewards on travel.
For someone else, it's lounge access or zero forex.

Same with mutual funds.
One person wants safety.
Another wants maximum returns.
Someone else cares about low costs.

And that's the point.
There is rarely one “Best”!
There is usually only what is best for you.

But there is another problem.
Sometimes, we only know what was “best” in hindsight.
Like the best-performing mutual fund or the best School!

The best credit card?
Today's winner can become tomorrow's ordinary card after a #devaluation.

So perhaps instead of asking:
What is the best?

We should ask:
“What is best for me, given my needs, priorities and constraints?”

Three things I keep reminding myself:
Best varies from person to person.
Best today may not be best tomorrow.
And sometimes, we only know what was best in hindsight.

#MoneyMinusNoise
So next time someone asks for the “best” product, ask them to define “best” first.
Before jumping in with a list of options.

I work with individuals seeking clarity on #PersonalFinance, #Taxation, #CreditCard Optimization, and #FinancialIndependence.

If you're trying to make a financial decision and want to evaluate what is 'right for you', rather than simply what is called “best”, feel free to send me a message.