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The boardroom erupts in chatter as the announcement is made. You’ve heard enough talk and you’re ready to move. You know your end goal and you have no problem taking the lead on this one. So you make the decision and hand out the marching orders – but did you make the right choice?

If you’re a risk-taking go-getter who believes that done is better than said, then you’ve definitely been in this situation more than once. How often, though, have you stopped to wonder if there isn’t a better way? And how often have you needed to correct course later because the initial option ended up being less than great?

When it comes to life and money, being a confident investor can sometimes lead to financial missteps. Luckily, there’s a simple solution that can improve results in many cases. The next time you’re faced with a big decision, slow down and take the following steps.

Hit the Pause Button

It's tough to see the upside of long deliberations. You know what you want and you’re ready to act before the opportunity passes you by. Conversely, you’re prepared to quickly dismiss any option that you're certain is wrong for you. But when it comes to important matters of life and finance, there's merit in slowing down the decision-making process. A good rule of thumb is to wait at least two days before making any major financial decision. Use that time to gather more information and evaluate your options more thoroughly.

Think Long Term

With your penchant for making quick choices, you may pride yourself for living in the moment. You get most excited about accomplishing short-term financial goals but may find it difficult to stick with long-term financial planning when the payoff is so far in the distance. But planning for things like your retirement or your kids' college education requires an ability to think beyond what's grabbing your attention now. Keep your sights on long-range financial goals so that you'll stay motivated to make the spending and saving choices that enable you to reach them.

Question Your Gut

You believe that your best decisions happen when you listen to your gut. But money management and financial planning usually turn out better when they’re based on data, not emotions. Check out the neighborhood quality and property values before you buy the house that you fall in love with at first sight. Compare fees and historical performances before you pick an investment firm or a stock, even if your favorite TV financial guru is singing its praises. You don’t have to ignore your intuition, just make sure you get some solid information first, in order to make sure they’re steering you right.

Seek the Advice of Experts

One of the hallmarks of people like you is a steely confidence in your ability to determine your own best course. That’s an empowering characteristic that can drive success in many areas, including finance. But there’s also great value in seeking the counsel of a trusted financial advisor whose experience and expertise can inform your decision. A financial planner can be a good person to check with before making a big purchase that may not align with your long-range goals, or when your fear or your enthusiasm might be causing you to overlook important facts.

Worth the Wait

While the delays and debates may feel arduous at first, the increased confidence and heightened results that come with strategically delaying decisions will prove it’s worth the wait.

So take the first step and turn the power of waiting into your new secret weapon for success. After all, the future is yours for the making.

This information and recommendations contained herein is compiled from sources deemed reliable, but is not represented to be accurate or complete. In providing this information, neither KeyBank nor its affiliates are acting as your agent or is offering any tax, accounting, or legal advice.

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