The Good News "For I know the plans I have for you, says the Lord. They are plans for good and not for evil, to give you a future and a hope." Jeremiah 29:11
When people come to me for investment advice, they usually start with one question: “What should I invest in? Occasionally I get, “Which investment strategy is best for me?” You may have asked the same question in the past. So, what answer did you receive? If you were asking a responsible financial professional, they probably responded as I do: “It depends!” I get it. “It depends” is not a very satisfying answer because you did not get an actionable answer. But the truth is that this vague answer should be music to your ears. It means the financial advisor cares about you and wants to know more about you, and your situation, before making a recommendation.
I don’t say “It depends” lightly. It really does depend! There are a host of factors to consider, including your risk tolerance (how long can you wait for an investment to turn around?), what other assets you own, when you will need funds from your investments, and what your financial goals and lifestyle aspirations are. Without this detailed information, any recommendation is mere speculation. Speculation is how the Bernie Madoffs of the world make millions of dollars off of unsuspecting investors. They offer investments that are too good to be true. Don’t be fooled into believing a quick, specific answer means YOUR best interest is being considered. These people are counting on quick money in their pockets at your expense. To avoid unhappy outcomes, interview a few advisors to see who listens to you and explains things to you in a way that makes sense to you. If you are looking for financial guidance, we would love to be one of those you interview. (Call me at any of the phone numbers listed in this newsletter to learn more about this service!) And remember, “It depends” means someone is waiting to listen to your needs before prescribing a solution.
BRAIN BREAK
3 DLJTAXSERVICES.COM • DLJWEALTHSERVICES.COM Advisory services are provided by DLJ Wealth Services, LLC. DLJ Wealth Services, LLC is a registered investment advisor. Tax advice is provided through DLJ Tax Services, LLC, a separate legal entity, but both companies are owned by Deb Matz. DLJ Wealth Services, LLC 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, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial advisor and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
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