Tread Carefully into DIY Investing
By Gary Silverman, CFP®
Most of my writing here has been looking at how I invest money for my clients. The hope was that you would glean the basics of how to go about building and managing your own portfolio.
What has been presented up to now I would consider a prelude. From here, you could take some initiative and learn how to become me. But since I’ve been told that one of me is enough, and the kinds of knowledge and skills I have in the investing area are a bit of overkill for most of you, at this point I will begin to explain what I believe is a very good, manageable, and (relatively) easy-to-follow way for you to invest your money without having to go to a professional for help.
But first, a warning.
There are the magazines, books, video series, seminars and workshops; all of which tell you that they will give you the tools, the information, to be able to wrest control from Wall Street and beat them at their own game.
After all, who wants to just do average? That’s why you see all the ads purporting that with their technology, techniques, or “secrets Wall Street doesn’t want you to know” you can get a leg up on the market. Anyone can equal the market by just buying an index fund; but you are special. With those special tools at your disposal you’ll see trends and data in such a way that you’ll spot the winners and navigate past the losers. You’ll be able to come out on top. At least that’s what you are led to believe.
Yet for the vast majority of people out there, do-it-yourself investing is not the way to riches, but rather to mediocrity—if not worse. Still, I’m gonna try to get you there. First though you’ll have to put up with one more week of warnings.
But before I let you go for the year, I want to let you know of an opportunity starting in January. Many of you commented on my article talking about my having started running this year and a few of you wanted to know when the next C25K (couch to 5K) program is being run. You are in luck, Endurance House is sponsoring this 2-month program to start on January 2nd (just in time for a New Year’s resolution). Best news: It’s free!
The runs will be Tuesday & Thursday nights and Saturday mornings. Don’t worry if you can’t make all the runs or have to start a week or so late…they can catch you up. Trust me, you can do this. Find out more information by calling Endurance House at (940) 234-7946.
See you next year!
Gary Silverman, CFP® is the founder of Personal Money Planning, LLC, a Wichita Falls retirement planning and investment management firm and author of Real World Investing