Find,Methodology,and,Minimize, finance, share, loan Find a Methodology and Minimize Investment Madness
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There are many reasons to be investing these days, and toomuch opportunity to not have your money working for you.However, I believe the majority of people dread having to dealwith investment matters, and tend to jump into purchases andthen hold their breath hoping for the best. After a long dayat work and taking care of the family, it's hard to getexcited about reading up on your 401(k) options, Morningstarratings and fund performances. If this sounds like you, there are basically 3 choices. You can have your investments professionally managed, you cancontinue as you have in the past & keep your fingers crossed, or you can find a methodology that objectifies the investingprocess (that's buying and selling investments) and helps youmaximize your long-term results. To determine if you need help managing your investments(andthis doesn't necessarily mean having to pay for advice) youmight want to ask yourself these questions: => Do I really have the time and interest to follow the marketclosely on a daily basis? => Have I done well in the past managing my own investments? => Do I really want to add another layer of work andresponsibility onto an already busy schedule? If you're like most people, you would answer yes to some andno to others, so how do you decide? If you think you couldhave or should have done better with your investments, thenyou need some help. Don't feel bad. Having counseled hundredsof people over the past 15 years I can honestly say thateverybody needs some help, whether they are aware of it ornot. Why? This could come as a surprise, but, in fact, yourfinancial life is a lot shorter than your physical life? Most people who end up investing don't really start workingand making money until they are about 25 years old.Considering the average retirement age of 65, this gives youonly 40 years to save and invest wisely. If you make a poor investment decision, such as trying to stayfully invested during a bear market, you could lose big bothin terms of diminished dollars and wasted time. To drive home this important point, let me give you an actualexample involving my own portfolio. For ease of illustration Ihave adjusted the beginning portfolio balance to $10,000. During the period from 1/25/91 to 10/13/00 my $10,000investment grew to $37,840, which is a 14.67% compoundedannual return. On 10/13/00, based on a methodology I was following, Iliquidated all of my domestic mutual fund positions and moved100% to the safety of my money market account. Thanks to thismove, my portfolio retained 100% of its value on that date. As we now know with hindsight, most people held on to theirinvestment positions and have so far lost on average 50% to60% of the value of their portfolios. For this example let ususe 50%. If I had held onto my position, my portfolio would be down to$18,920. Last time I hit that level on the way up was in 1995. In other words, not only would I have lost 50% of my portfolioI would have lost even more by having used up 20% (8 years) ofmy total financial life. How can you avoid mistakes like that in the future? Spend alittle of your valuable research time looking for investmentmethodologies that allow you to side-step bear markets and letyou move back in during bull markets. In other words, investyour time looking at methodologies instead of investmentsthemselves. This will lay the foundation for more effectiveuse of your money and time. If you find a methodology that you like, and it matches yourinvestment philosophy, stick with it for the long term. Itshould have the aspect of telling you when to get out of, aswell as when to get into, an investment. I suggest you follow these broad guidelines: Don't be afraid to take a small loss to avoid biggerdisasters. Stay away from commissioned sales people (because they haveincentives other than your best interests), and if you use anadvisor, be sure he or she is fee based. Above all, don't get overwhelmed by news, rumors andpredictions that are irrelevant to your strategy. If you take this advice, I guarantee that pretty soonsleepless nights will be a thing of the past and you'll be onyour way to more confidently and successfully (that meansprofitably) managing your investments.
Find,Methodology,and,Minimize,