Why diversification, patience and consistency are essential for the smart investor. Download the 8 Steps to Organize & Optimize Your Financial Life: http://bit.ly/OrganizeAndOptimize. Scott Weiss is a Fee-Only Certified Financial Planner. Subscribe to my channel: http://bit.ly/scottweisscfp ******************************************** Learn more about working with Scott at Weiss Financial Group Here: http://www.weiss-financial.com ******************************************** Subscribe to my blog: http://www.mahopacmoney.com ******************************************** Get Social -------------------------------- LinkedIn: https://www.linkedin.com/in/scottgweiss Facebook: https://www.facebook.com/WeissFinancialGroup Twitter: https://twitter.com/_scottgweiss ******************************************** Video Notes: ---------------------- Essential #1: DIVERSIFICATION The saying “don’t put all your eggs in one basket” has real value when it comes to investing. That’s why essential #1 is diversification. In a bear OR bull market, certain asset classes may perform better than others. If your assets are mostly held in one kind of investment, you could be hit hard by stock market losses, or alternately lose out on potential gains that other kinds of investments may be experiencing. This is why asset allocation strategies are used in portfolio management. You need to consider your goals, tolerance for risk, and assign percentages of your assets to different classes of investments. Essential #2: PATIENCE Impatient investors obsess on the day-to-day doings of the stock market. Have you ever heard of “stock picking” or “market timing”? How about “day trading”? These are all attempts to exploit short-term fluctuations in value. These investing methods might seem fun and exciting, but they could add stress and anxiety to your life, and they may be a poor alternative to a long-range investment strategy built around your life goals. Essential #3: CONSISTENCY Most smart investors invest a little at a time, within their budget, and with regularity. They invest monthly in their 401(k) and similar investments through payroll deduction or automatic withdrawal. In essence, they are investing on “autopilot” to help themselves build wealth for retirement and for long-range goals. Investing regularly (and earlier in life) helps you to take advantage of the power of compounding as well. ----------- Sources 1 - This material was prepared, in part, by MarketingPro, Inc. Disclosure: ------------------- Weiss Financial Group is a registered investment advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities product, service, or investment strategy. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser, tax professional, or attorney before implementing any strategy or recommendation discussed herein. Insurance products and services are offered through individually licensed and appointed agents in all applicable jurisdictions. The advisers at Weiss Financial Group are not attorneys of a law firm but can provide guidance to the client’s other professionals. Leave me a comment to ask any question or contact me through my website if you'd like to see if I can help you.
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