What is the purpose of your investment account?
While you may think everyone’s answer to this question is “to make money,” asset growth is not the only purpose of an investment portfolio.
It’s important to clarify your portfolio’s purpose, because certain investments are more suitable for achieving a particular goal than other investments…. Read more
The end of the year is a good time to review your financial plan. If your savings plan or the market as a whole has swerved off course, now is an opportune time to adjust accordingly. Here’s what to look for:
Saving Goals
Are your long-term and short-term goals the same as they were last year?… Read more
A client recently called me to discuss the stocks in her IRA (Individual Retirement Account).
“I know an IRA account is a good place for growth stocks,” she told me, “since any taxes on the growth are deferred until I withdraw the funds. I chose the individual stocks in the account because I believe in the strong fundamentals of the company and that the company will grow…. Read more
If you receive an inheritance, make sure that you only receive financial assets. Just because you inherit assets, doesn’t mean that you need to use the same financial advisor as the deceased did. Before you inherit someone else’s financial advisor, consider the following points:
Put everything under one umbrella
Consolidating your assets,… Read more
Bonds are a very popular investment, but before you buy any, let me tell you waht I share with my clients about them.
Think of a bond as a loan between you and a company or government. Assuming all goes normally, here’s how it looks:
1. You lend them a sum of money…. Read more
Recently, a retired widow met with me to discuss her concerns about having enough income from her investments. I reviewed her portfolio and made some suggestions about restructuring her investments to get predictable income. Here are some ideas I brought up:
Consider bonds
Bonds pay a set amount on a fixed schedule,… Read more
Have you thought of giving someone power of attorney over your finances?
Contrary to the popular myth that a power of attorney (POA) is only necessary for old people, there are times when you may need to give a trusted individual discretion over your finances regardless of your age.
When do you appoint a power of attorney?… Read more
Investors frequently diversify their portfolios between stocks, bonds, and cash in order to find the best tool for making money. Some people also diversify between different sectors of the economy, and invest in different countries around the world. However, an important but often overlooked type of diversification is active and passive management. … Read more
My clients often ask me how I manage my own money. I’m happy to answer this question.
Not everyone should invest the same way
Investments aren’t a matter of “one size fits all.” All folks have their own personal circumstances, risk tolerance, and goals. Therefore, I wouldn’t recommend you copy my portfolio because my needs are probably different from yours…. Read more
Though there are many questions you should ask when selecting someone to help you handle your money, consider these three:
#1 Who is the subject of the first meeting
At your initial meeting, the advisor should spend much more time asking you questions than lecturing about who he is…. Read more
