My Best Investment Advice

 

This is a question I have heard countless times over the years when a conversational topic turns to my career as an Investment Professional.  The answer, in my opinion, rarely changes. 

The best piece of investment advice, my best idea in fact, is not a new one.  It involves traditional concepts of healthy financial behavior:

  • Spend less than you make.
  • Save regularly and repeatedly, from a young age, if possible.
  • Anticipate a rainy day.
  • Plan for life’s journeys including retirement, education, and your personal ambitions.

Only after you have properly prepared to accumulate money to invest does investment strategy change from the lottery-ticket dreams of a hot stock tip to disciplined, long-term investment approaches that can truly create ultimately result in financial independence.

I look forward to contributing to Money Centered in the coming weeks and months and discussing specific investment concepts and the current market landscape.  As I tackle these topics, keep in mind that focusing on investing without a broader financial plan is putting the cart before the horse.