It’s important to be flexible in your thinking, especially if you are presented with new information… (and even more so if you were mistaken in the first place!)
3 Retirement Topics I’ve Changed My Mind About [Morningstar] – “But I believe that it’s valuable to stay open to new information and be willing to change my mind from time to time. That applies to life as well as investing. As much as there are immutable truths in investing and money matters—costs matter and getting started earlier is best, for example—many of the other precepts we hold true as investors are dependent on the data. Over time, we receive more, and more current, data about the risk/reward characteristics of investments and how well investors use them. The industry and its product offerings change, too.
Here are three retirement-related matters that I’ve altered my thinking on, either because I was off-base in the first place or gained new information along the way.”