Watching Paint Dry…
“Investing should be more like watching paint dry or grass grow. If you want excitement take $800 and go to Las Vegas.”
— Dr. Paul Samuelson (the first American to win the Nobel Prize in Economics)
“Investing should be more like watching paint dry or grass grow. If you want excitement take $800 and go to Las Vegas.”
— Dr. Paul Samuelson (the first American to win the Nobel Prize in Economics)
Why are people reluctant to hire financial advisors? They often think investment managers are for the wealthy, not for the middle class, and many people don’t know where to find an advisor they can trust.
What happens when you have advisers bound by fiduciary oaths working at firms that only commit to providing “suitable” services to their clients? Answer: ambiguity.
In my opinion the risk of outliving your assets is far greater than the risk of loss on your investments — Roger Wohlner (CFP)
“Bear markets have always been temporary and so have bull markets”
— Sir John Templeton (one of America’s most famous mutual fund managers).
Whatever is happening on the upside is not going to go on forever so don’t invest that way. Similarly, when we have a bear market avoid the trap of thinking it will go on forever.
Considering equity-indexed annuities? Perhaps think again. Downsides include heavy front-end fees (5%-8%) for the salesperson, an upside cap that is adjustable at the insurance company’s discretion and you generally can’t acess your money for 10 years.
Generation Y investors, like Robert White, are far less eager to take on risk, and experts say may be doing themselves a disservice.
“Risk comes from not knowing what you’re doing” — Warren Buffet
Don’t invest on a hunch.
Don’t invest based on hope.
Don’t invest based on emotion.
The less emotion in your investment process, the less the risk.
Advice that financial planners have for members of Gen Y.
What if your financial adviser is not a fiduciary? Other types of advisers, most notably people acting as brokers, must adhere to a lower “suitability standard,” meaning a recommended investment merely must be suitable, rather than “in your best interest.”