The 7 Types of Financial Procrastinators: Which One Are You?

The pursuit of investment perfection drives far too many people into getting nothing done, and that comes at a cost.

A woman looks at a clock.
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Over the years, I have had no shortage of reasons from investors as to why they can’t get their financial house in order. While the art of procrastination takes many forms, a common theme I’ve noticed is the quest for perfection. Investors typically looking for the ideal set of circumstances, which never seem to materialize, keep putting off the important planning that needs to get done.

This search for perfection is similar to the world of dating, where searching for the perfect mate can be a hopeless endeavor. Every person has flaws, and no relationship comes without its wrinkles. Embracing this truth can ultimately lead to courtship and a successful marriage. While denying it may lead to years of unintended singlehood.

In many facets of life, the quest for perfection is the enemy of progress. This is especially true in the world of personal finance. The below list highlights several areas within the search for perfection that prevent people from pulling the trigger on a financial strategy. Investors should be aware of these traps and not let them inhibit their ability to achieve their financial objectives.

This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

Jonathan I. Shenkman
Associate Director - Investments, Oppenheimer and Co. Inc.

Jonathan Shenkman is a financial adviser, portfolio manager and the founder of the Shenkman Private Client Group of Oppenheimer & Co. Inc. He is experienced in developing creative strategies that allow his clients to achieve their retirement, estate and philanthropic objectives.