July 8, 2013
When looking for help with investing, what should you be concerned about? What have you learned?
When looking for help with investing, what should you be concerned about? What have you learned?
You should be concerned about whether or not the people/person “helping” you have a conflict of interest. I have learned to avoid financial firms; to avoid individual stocks, commodities, life insurance, annuities, load mutual funds, ETF’s, and no-load managed mutual funds; to avoid salesmen (investment brokers, life insurance agents, bankers, and financial advisers); to never pay commissions when investing my money; 5.75+6.2=0; to educate myself on the history of the markets; to keep emotion out of my investing decisions; to understand Modern Portfolio Theory and asset allocation; and to further my education by learning from the investing TEACHERS. Finally, when I am ready to invest, I will be going to Vanguard.
Well said, Katherine. You covered plenty. Let’s see what this teacher has to say.
You don’t need 99.9 percent of what Wall Street is selling. It’s expensive, unsuitable, or stupid. Most investments are designed to profit the brokers, banks, and insurance companies, not you. They should carry a warning label, “Beware! This financial product may be injurious to your wealth!” – Jane Bryant Quinn, Teacher