We already have Snappy Answers to Stupid Questions (the financial edition), but here are some more fun frustratingly correct financial answers to give folks, that will cause them to comment, “Well that is obvious”, but remember that just because an answer is obvious, doesn’t make it any less correct.
Question: When is the best time to sell my stock?
Answer: When it reaches the highest price.
Isn’t that annoyingly correct? No, it isn’t actually answering the spirit of the question being asked, but it is giving a very correct answer.
Question: Any tips on how to win the lottery?
Answer: Yes, buy the winning ticket.
Yes, Captain Obvious is hard at work here, but I enjoy giving these kinds of answers because folks keep asking me questions like this assuming I might have some amazing insight or karmic understanding about how lotteries work. Yes, I did work in the industry briefly over 25 years ago, but no, I have no idea how to make money on lotteries (unless you can run one, then there is a lot of money in that).
How about some investing advice. This is a constant query:
Question: What are the best places to invest money in our {RRSP|RESP|etc., etc.,}?
Answer: In places that will make you the most money, and make sure that you sell before the price of them drop in value
Great answer, isn’t it?
One Final Snarky Answer
The final one you have seen me answer so many times before, but, it is still very correct
Question: Is there such a thing as good debt?
Answer: No. If you owe money, you owe money, which is bad.
Did I miss any?
Q: Is there such a thing as good debt?
A: Depends on which side of the debt you are on.